The Evolving Nature of Apartment Rentals

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The esteem of rental properties have been sliding recently in light of other concerns, such as an overwhelming number of persons in ‘Generation Z’ would rather get free mental healthcare for life when offered that between a luxury apartment with all commodities included. Almost as surprising, is that nearly half of all ‘Generation Z’ persons look to having an affordable rent as their number one priority when apartment hunting. An interesting observation has been that while roughly 52% of reported individuals have this as their number one concern, but a surprisingly higher number of reported individuals (57%) have reported in receiving some sort of financial assistance with regards to their rent or utilities. A noticeably slightly smaller percentage (48%) that nearly totals half of all respondents, plan to rent their property for the next decade or longer. A strange observation that was made was that while nearly half had professed that they planned to live in the location for the next decade, a stronger percentage (55%) indicated that they live in one-to-three-month rental periods, with a similar number reporting that they would be open to moving to a new city within the same frequency.

It has also been reported that Generation Z is much more fixated on having ‘pet friendly’ apartments, to where it has been noted to be one of the defining properties for them to make a decision on rental properties. Another reported trait amongst many Generation Z renters is that nearly a third of them prefer to have a virtual tour of the apartment while they are scoping out their prospective homes.

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