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Everything You Need To Know About Today’s Tenant

It is important for renters, such as Denver Property Management Companies, to keep themselves informed of the latest trends concerning tenants. While generally maintaining the same characteristics over time, tenants today do actually differ from the tenants of 20 years ago.

According to recent surveys, single family renters tend to be younger than owner-occupants, with 35 to 64 year-olds accounting for roughly 60% of all single family renting households. This means that landlords can expect more younger people to be interested in their properties than older persons. Statistics also show that 43.8% of renters will end up spending as much as 35% of their gross household earnings on rental expenses. This is a substantial amount of the income but is affordable for such persons. It has also been recorded that the largest share of single family households, which accounts for 25.6% of households in general, have a maximum of two members making up that household. Landlords should also note that the issues that often displeases the tenants today include delayed repairs to the home, and troublesome neighbours. These matters should therefore be dealt with promptly to keep tenants contented. Tenants are also more likely to rent a home that is located in a decent community, has a clean interior and has reasonably-priced rental charges.

Source: biggerpockets.com