Understanding "Renters By Choice" Leads to Better Communities

Some households rent because they can’t afford to purchase a home, but others choose to rent for the flexibility, convenience, and lifestyle benefits it offers.

These "renters by choice" are also more likely to move from place to place if their needs aren’t met, and developers who understand this cohort can better prepare to offer homes and community amenities that entice these renters to stay put.

For renters by choice, the decision to rent is about flexibility and freedom from the expenses that come with homeownership. According to Multi-Housing News, these renters measure value in terms of experience per dollar rather than rent versus mortgage costs. They also gravitate toward communities that make flexibility available through customizable leases and add-on services, such as furniture, cleaning, or coworking options.

Within the unit, renters by choice prioritize flexible rooms that convert between office and guest accommodations without sacrificing daylight. They seek high acoustic performance for work calls and content creation, so walls, doors and flooring should tame noise without feeling heavy. Storage needs to be ample: generous closets for daily life, with rentable, climate-controlled lockers for gear that comes and goes. EV-ready parking and pet-friendly features are gaining points among renters by choice.