Characteristics of a long-term renter

by Kyra Rollins


Posted on 2017-10-03 08:35:20


Characteristics of a long-term renter

 

I read through multiple landord and tenant blogs, chat posts and statistics to find out what characteristics are shared among long-term renters. I have gathered a small amount of information to help you recognize that valuable long-term tenant.

Landlords, feast your eyes on this brief explanation of a tenant that stays long-term!

Three to four years is the average length of time a tenant stays in a rental property. Pintar Investment Company, a large real estate investment firm based in Orange County California, found that when more time is spent to renovate a rental home, residents stay longer, treat the properties better and are more willing to tolerate rent increases.

Here are percentages found in long-term renters: 

- 31% are families with children
- 34% are households headed by a 50 year old individual
- 40% are individuals aged 30-49
- 11% are top-income households which has been the fastest growing segment over time, this 11% is creating a trend called "lifestyle renters".

The list below has a few reasons regarding why tenants leave:

-Too Expensive
-More Space
-Less Space- Downsize
-Job Change/Relocation
-Maintenance Problems
-Neighbor Problems
-Change of Neighborhood
-Separation/Divorce/Marriage
-Market Change

Smart Housing is readily available to keep our landlords and tenants happy with online rent payments, online background and credit screenings, online resident applications and more! 

Spruce up those properties landlords, it's worth it in the long run.