Renters optimistic despite coronavirus concerns

Mark Prado

Renters who are already involved in the process of finding a new apartment are continuing their searches despite the COVID-19 issue, according to a new report from RENTCafe.

RENTCafe surveyed 6,000 people searching for rentals on RENTCafe.com. The responses were optimistic across the board for a majority of respondents.

Here are the most interesting numbers:

  • For 56% of respondents, finding an apartment remains a priority. However, there is a 17% share of renters who decided not to move, while 8% plan on postponing the moving process.
  • Renters' concerns included: 13% of respondents worried they may not be able to pay the rent in the near future, while 18% are concerned about their lease expiring and having to move regardless.
  • Almost half of the respondents reported no changes in their renting preferences. However, a notable 28% are considering something cheaper than what they looked for initially.
  • For 49%, the current situation has altered their apartment selection process, with 17% now relying on online pictures or virtual tours, while 12% decided to pick whatever is easiest to speed up the moving process.

Full results and methodology are here: https://www.rentcafe.com/blog/rental-market/real-estate-news/survey-of-renter-perception-on-moving-during-covid-19-pandemic-indicates-surprising-optimism/


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