Renting has become much more popular in Middle Tennessee in the last decade.
Especially for millennials, or those between the ages of 18 and 35. Recently, a thousand renters in this age bracket were surveyed to find out why renting is the lifestyle of choice for them. Understanding the minds of these renters can help Middle Tennessee property managers attract these renters to their units and keep them happy in long-term rental contracts.
Top three reasons people prefer to rent:
1. No-Worry Maintenance
A top reason for someone to choose renting a home over purchasing is the no-worry maintenance. When you don’t have the skills or time to fix problems around the house, it’s great to call your landlord to take care of it free of charge. Renters revealed that they felt less pressure about fixing serious repairs on things like furnaces, appliances, and water heaters. They preferred to call someone to handle it for them. It’s simply easier to make a phone call and let their property management company take care of the problems and not have to foot the bill. Real Property Management Rental Solutions has the resources for group discounts for maintenance supplies and equipment. This creates a win/win situation for tenants and property owners when a repair is needed.
Many of the renters who were surveyed indicated that they didn’t think they would be making a home purchase anytime soon. Though most responders did not grow up in a rental situation.
Renting means less commitment and more freedom. Real Property Management Rental Solutions can help with varying lease options for people in uncertain situations. Job relocations, relationship changes, financial shifts, and even neighborhoods can all cause people to move. Renting gives peace of mind when your life situation changes.
3. Money and Convenience
One of the top reasons given by renters for choosing to rent over signing a mortgage is that the bottom line cost is often cheaper. Even though renters know they aren’t building equity with property ownership, renting can be less expensive than a monthly mortgage payment on top of insurance, property taxes, and maintenance.
Murfreesboro area property managers can be assured that the population of renters is not declining. At Real Property Management Rental Solutions, we love helping match investment rental property owners with tenants. We locate tenants who are looking for that perfect home in just the right neighborhood where they can put down some roots at least for a while.