Renter Preferences Report

The modern renter’s definition of a home has expanded, and simply providing a roof is no longer enough to meet their expectations.  

To remain competitive and profitable, property management companies must evolve their strategies to prioritize the resident experience as the primary engine for growth. By delivering standout service and high-value resident services throughout the rental journey, operators can drive long-term satisfaction that leads to high occupancy, retention, and diversified revenue streams beyond traditional rent collection.

The landscape of early 2026 presents a tug-of-war for many operators. Although financing pressure has eased, sticky operational costs — from insurance to maintenance — continue to compress margins. At the same time, a surge in new supply has handed the leverage back to the resident. National vacancy rates have hit a modern peak of 7.3%, driven largely by high-density construction in regions like the Sunbelt.

In this environment, property managers need to go beyond simply managing assets; they must optimize them by focusing on “resident impact.” Our research proves that when residents are supported with the right tools and services, they don't just stay longer — they become partners in the success of the property.

This report explores how to master the "move-in moment," close the gap between resident demand and service availability, and create a virtuous cycle where resident well-being and business success fuel one another.

Key Takeaways

In a renter’s market with longer lease-up timelines, the most cost-effective way to manage vacancy is to prevent it before it starts. The 2026 data confirms a powerful correlation: Resident satisfaction is the primary driver of portfolio stability.

The Business Case for Satisfaction

The pressure to retain residents has intensified over the last year. Our 2026 survey found a notable year-over-year increase in renter mobility: 39% of renters plan to move in the next 12 months, up from 35% in 2025.

While the industry average for satisfaction remains relatively high, the financial delta between satisfied and unsatisfied residents has never been wider. Currently, 83% of residents report being satisfied with their property manager. While this sounds high, the remaining 17% represents a significant flight risk in a market where renters have more choices — and more motivation to move — than ever before.

Operators who proactively bridge this gap will gain a distinct competitive advantage. The data clearly demonstrates that resident satisfaction is the primary hedge against this rising mobility:

Residents who are satisfied with their property management company are:

Less likely to be planning to move in the next 12 months.

45% of satisfied residents are planning to move, compared to 68% of unsatisfied residents.

More likely to be planning to renew or stay on their current lease.

55% of satisfied residents are planning to renew, compared to 32% of unsatisfied residents.

More likely to recommend their property management company.

84% of satisfied residents say they are likely to recommend their property management company, compared to just 16% of unsatisfied residents.

Satisfaction as a Marketing Lever

Satisfied residents do more than just stay — they advocate.

Our research shows that satisfied residents are more than five times more likely to recommend their property manager to friends or family. This organic advocacy is critical because referrals from friends/family are one of the top three methods renters use to discover their next home, and most internet listing services prominently feature reviews.

Protecting Your Digital Reputation

Beyond word of mouth, resident sentiment directly impacts your digital "front door" — your online reputation and search presence that serve as a prospect's very first interaction with your community. Ninety percent of residents state that a property management business’s online reputation is a vital factor in their decision-making process.

Satisfied residents say they would leave much better reviews for their property management company

Average rating residents would give their property management company, 
out of five stars

All residents

Residents satisfied with their property management company

Residents not satisfied with their property management company

Satisfied residents are significantly more likely to leave positive online reviews, creating a virtuous cycle:

1. High satisfaction leads to positive reviews.

2. Positive reviews build a stronger digital reputation.

3. A strong reputation lowers the cost per lead (referral leads typically have a $0 acquisition cost) and shortens the leasing lifecycle (reduces psychological friction).
   

The Bottom Line

In 2026, you cannot afford a passive approach to the resident experience. Every touchpoint is an opportunity to leave a lasting impression. By prioritizing clarity and responsiveness from day one, you move beyond managing a lease to building a meaningful relationship that secures long-term occupancy.

To win the battle against vacancy, property managers must master the fundamentals of the resident experience. Our 2026 data identifies three primary levers that move the needle on resident satisfaction: maintenance excellence, communication alignment, and the integration of high-value resident services (amenities, financial services, move-in tools, and technology).

Maintenance: The Make-or-Break Satisfaction Driver

Maintenance remains the single strongest driver of overall resident satisfaction. When maintenance is handled well, it cements loyalty; when it is handled poorly, it becomes the primary catalyst for a move-out.

The impact of maintenance satisfaction extends far beyond a single work order:

Residents who are satisfied with maintenance are:

Less likely to be planning to move in the next 12 months.

44% of satisfied residents are planning to move, compared to 69% of unsatisfied residents.

More likely to be planning to renew or stay on their current lease.

56% of satisfied residents are planning to renew, compared to 31% of unsatisfied residents.

More likely to recommend their property management company to someone.

83% of satisfied residents say they are likely to recommend their property management company, compared to just 28% of unsatisfied residents.

Residents satisfied with maintenance say they would leave much better reviews for their property management company

Average rating residents would give their property management company, 
out of five stars

All residents

Residents satisfied with maintenance

Residents not satisfied with maintenance

To improve satisfaction in this area, property managers should focus on three specific pillars: visibility, velocity, and voice. Providing residents with real-time visibility into their request status and resolving issues quickly are essential.

79% of satisfied residents report maintenance issues being resolved within a few days or less, but 53% of residents who are unsatisfied with maintenance report waiting weeks or more for issues to be resolved.

The Digital Advantage

Our data shows that 85% of renters with online portal access are satisfied with their maintenance experience, compared to 78% of those without. Digital tools provide the transparency and ease of reporting that modern renters demand.

Communication: Aligning With Resident Preferences

Satisfaction with communication is nearly as influential as maintenance in determining renewal rates and recommendations.

Residents who are satisfied with communication are:

Less likely to be planning to move in the next 12 months.

45% of satisfied residents are planning to move, compared to 62% of unsatisfied residents.

More likely to be planning to renew or stay on their current lease.

55% of satisfied residents are planning to renew, compared to 38% of unsatisfied residents.

More likely to recommend their property management company to someone.

85% of satisfied residents say they are likely to recommend their property management company, compared to just 28% of unsatisfied residents.

Residents satisfied with communication say they would leave much better reviews for their property management company

Average rating residents would give their property management company, 
out of five stars

All residents

Residents satisfied with communication

Residents not satisfied with communication

However, good communication is not a one-size-fits-all strategy.

The Preference Shift

While 66% of residents prefer a phone call for emergencies, they pivot toward email (51%) or text (43%) for nonemergencies. Operators who do not provide these channels risk frustrating their residents.

Renters are reporting that AI concierges are having a measurable impact on their satisfaction with communication: 86% of residents who interact with an AI concierge report satisfaction with their property manager’s communication — a marked difference compared to the 77% satisfaction rate among those without access to automated assistance. By providing instant, accurate answers to routine questions 24/7, an AI concierge ensures that residents never feel ignored, offering the support and reliability they need exactly when they need it.

AppFolio Realm-X Performers

The Industry’s Only Agentic AI for End-to-End Resident Engagement

Realm-X Resident Messenger Performer

Never leave a resident waiting. The Messenger Performer takes full ownership of daily interactions — from rent and payment inquiries to lease renewals — using your AppFolio data to provide fast, fact-based, and consistent responses.

The Outcome: Lower delinquency and higher renewals through seamless, 24/7 responsiveness while maintaining full visibility and control.

Realm-X Maintenance Performer

Total ownership of your maintenance lifecycle. From AI-powered intake and photo-based triage to automated coordination and dispatch, this agentic AI manages repairs as effectively as your best human coordinator.

The Outcome: Faster repairs, 24/7 multilingual support, and higher resident satisfaction through real-time updates.

Learn how Realm-X is redefining the resident experience

The Service Multiplier:
Financial services refers to the following resident services:

One of the most compelling findings of the 2026 report is that resident satisfaction extends beyond physical property attributes. There is a halo effect created by offering high-value resident services.

Residents who utilize these services report higher satisfaction across all areas of the resident experience — even those unrelated to the services themselves. By providing tools that improve a resident’s financial well-being (such as credit building resources) or quality of life (such as group-rate internet), the perception of property managers as true value providers grows.

Key Takeaway

Our research shows a disconnect between what renters want and what property managers provide. Closing this opportunity gap helps forward-thinking operators retain valuable residents and attract high-quality prospects.

The Availability vs. Importance Paradox

Our research shows that while many financial and resident services are highly coveted, they remain surprisingly scarce. Across almost every category — from SDAs to renter rewards — fewer than half of all renters have access to many of these tools through their current property manager. Resident services and digital move-in tools are only available to about one-third of residents.

The most dramatic outlier is the resident benefit package (RBP).

The Importance

78% of residents say an RBP is an important factor when evaluating a new rental.

The Reality

Only 33% of residents actually have access to one.

This 45-point delta is the largest gap between availability and importance in our survey. It indicates that for the vast majority of renters, an RBP is a top-tier offering.

Another large opportunity gap is financial services (but to a lesser extent). Offering these services can help you stand out in a competitive market.

The data confirms that these services are not just nice-to-haves for current residents — they are active leasing tools. By including these in your marketing materials and move-in presentations, you are not just filling a vacancy — you are launching a longer-lasting, more valuable relationship.

Let’s explore more in the next section.

The definition of performance has expanded. Typically, we think of performance in a business context — revenue, profit, productivity, etc.

This year’s report introduces a new metric: resident impact — the financial stability and well-being of the renter.

Achieving both is the new standard of success. Leading property managers are moving beyond measuring satisfaction to evaluating how their service ecosystem improves the lives and financial stability of their residents.

Driving Resident Well-Being — and Asset Protection

Our research uncovered a powerful synergy: When property managers offer integrated resident services, they not only improve residents' quality of life — they also help protect the asset's physical and financial health.

Elevating Resident Impact: Financial Health and Quality of Life

For the first time, we’ve quantified the direct correlation between resident services and life satisfaction and financial stability. To ensure the highest level of accuracy, we utilized two of the most respected frameworks for measuring human sentiment:

The data reveals a clear well-being multiplier: Residents who utilize resident services consistently outscore nonusers on both scales.

RBPs

RBP users rate their financial well-being at 2.9/5 and are two times more likely than nonusers to rate it high or very high.

Financial Services

Residents who use financial services consistently report a higher overall quality of life, at nearly a full point higher on a 10-point scale in some cases. This highlights the association between financial services and stronger resident experiences.

Residents who use financial services consistently report stronger financial well-being. Across all services, users score 0.2-0.5 points higher on a five-point financial well-being scale. The largest gains are tied to rewards, rent reporting, and SDAs.

The Cumulative Effect

Resident impact is additive. Data shows that the more services a resident uses, the higher they rate their overall quality of life and financial well-being.

Each additional financial service used is associated with a higher quality of life, with residents using five or more services reporting life satisfaction nearly two points higher on a 10-point scale than those using none.

Each additional financial service used is associated with higher financial well-being ratings; residents using six services report life financial well-being nearly one point higher on a five-point scale than those using none.

Meaningful Savings

High-value services such as group-rate internet are moving the needle on household budgets. Ninety-seven percent of residents with group-rate internet report that it has directly saved them money and improved their overall financial health.

Positive Financial Impact

The large majority of renters who use financial services (such as credit-building resources or identity protection tools) report a positive impact on their financial health, with virtually no respondents reporting a negative impact.

The Secondary Advantage: Proactive Asset Protection

While these services are designed to help residents thrive, they serve a critical secondary function: protecting the owner's investment. By simplifying lease obligated maintenance tasks and financial safeguards for residents, property managers can reduce long-term risk and operational expenses.

A standout example of this dual benefit is air filter delivery. Residents with an air filter delivery service included in their lease are nearly twice as likely (59%) to change their filters every three months compared to nonusers (30%), aligning directly with EPA recommendations.

Our data shows residents with filter delivery included in their lease are two times less likely to rely on their property manager to change air filters. This behavior shift reduces the volume of routine work orders, allowing maintenance teams to focus on higher-priority tasks and preventing premature HVAC system failure. Second Nature’s Triple Win Impact Report 2025 shows similar benefits for property managers, owners, and investors:

• A study found a 25% reduction in HVAC repair costs compared to homes without Second Nature’s HVAC delivery service.

• Regularly changing air filters can reduce HVAC maintenance requests by an average of 38%.

Other examples include services such as identity protection and insurance, which not only provide peace of mind to residents but also ensure that resident impact remains stable even in the face of external financial shocks — ultimately protecting the property's rent roll and overall business performance.

Driving Business Performance: Building Sustainable Business Models Through Resident Value

With traditional rent growth slowing, property managers are looking to resident services to drive business performance. 

Our survey confirms that residents are not just open to these services — they are willing to pay for them.

The Revenue Opportunity

Our survey found that 79% of residents are willing to pay their property manager for additional services integrated into their lease. According to the Second Nature report mentioned earlier, many renters find themselves having to navigate these essential services piecemeal — spending up to 10.6 hours in their first year alone researching providers, comparing plans, and managing individual enrollment for utilities, insurance, and pest control. By offering high-demand resident services like insurance, pest control, and group-rate internet within the lease, property managers can provide these at a discounted rate compared to the open market while generating a new, consistent revenue stream.

The Transparency Mandate

While residents are willing to pay for value, they demand clarity. Ninety-five percent of residents state that a transparent lease-signing experience — clearly detailing the base rent alongside all amenities, policies, and additional service costs — is essential.

Integrating resident services directly into the lease via digital move-in tools provides residents with the clarity they expect. And by prioritizing transparency upfront, property managers clearly demonstrate the inherent value of their offerings. This open approach fosters immediate resident confidence, resulting in higher adoption rates and a professional reputation built on trust.

The findings of the 2026 Resident Preferences Report make one thing clear: In a market defined by peak vacancy and rising renter mobility, the move-in moment is the most critical point in the resident lifecycle. To win the battle for retention, property managers must bridge the gap between resident expectations and operational execution.

Closing the Opportunity Gap

Our research highlights a deep disconnect between the services residents value and what they can actually access. As seen in the data, while 84% of residents prioritize an online portal, only 59% have access to one. This gap is even more pronounced for digital move-in services (64% importance vs. 31% availability) and RBPs, which show a staggering 45-point delta between interest and access.

Offering these services can help property managers stand out from the competition in today’s competitive market, and AppFolio provides all three of these services in one unified experience.

Mastering the Move-In With AppFolio Resident Onboarding

A frictionless start is a strong predictor of long-term loyalty. AppFolio Resident Onboarding transforms manual processes into a guided, digital experience that boosts satisfaction from day one.

Enhanced Move-In Insights

Eliminate constant check-ins and reminders by tracking every resident’s onboarding status at a glance from your dashboard, ensuring tasks are completed before move-in day.

Guided Move-In Experience

Replace manual follow-ups with a simple self-service checklist that residents can complete in minutes from their mobile device.

Seamless Utility Configuration

Address your team’s number-one move-in pain point* by assigning required utilities and allowing residents to confirm setup directly within their digital checklist, with complementary support from a Resident Concierge who can help residents seamlessly transfer utilities and find the best deals on moving services on their behalf.

*Property managers surveyed in the annual AppFolio Benchmark Report consistently rank utility setup as their greatest challenge when onboarding new residents.

The Virtuous Cycle: Resident Onboarding Lift From AppFolio and Second Nature

The data is clear: The more services a resident uses, the higher they rate their overall quality of life and financial well-being. However, these benefits only materialize if residents know they exist. As the primary interface with the resident, you have an opportunity to provide them with the transparency they expect and deserve — clearly presenting these options within a digital guided move-in experience so they can easily access the value and savings that drive a successful, long-term residency.

When residents utilize these tools, they enter a virtuous cycle: Because these integrated services provide a clear advantage and outsized convenience, residents view them as a worthwhile investment in their own well-being. When their financial stability strengthens and their quality of life improves, the property management model transforms into one rooted in mutual value, naturally leading to the positive reviews that drive your reputation.

Developed in partnership with Second Nature, Resident Onboarding Lift allows you to kickstart this cycle during the digital lease-signing process.

Meeting Top Demand

Our research identifies renters insurance as the number-one service residents are interested in purchasing. To address this, offering insurance directly within the onboarding flow provides renters a convenient way to secure coverage at the exact moment they need it. This same guided experience also streamlines access to essential third-party services — such as group-rate internet and other financial tools — giving residents a single, transparent digital hub to manage their entire living experience.

For the Property Manager

When you prioritize resident value, you create a superior living experience that naturally translates into robust asset protection and a more profitable, resilient portfolio.

Property management is no longer just about maintaining buildings; it is about driving resident impact. By leveraging the integrated tools within AppFolio to nail the move-in and deliver the value-added services residents crave, you aren't just filling units — you’re forging trust-based relationships that build a resilient, high-occupancy portfolio built to thrive in 2026 and beyond.

Ready to see how AppFolio can transform your resident experience? Visit appfolio.com to sign up for a customized demo to see how much of an edge AppFolio can offer in the ever-changing rental environment.

Methodology

The 2026 AppFolio Resident Preferences Report is based on a survey of 3,002 United States-based renters. Respondents represent a diverse cross-section of ages and household incomes aligned with U.S. Census data to provide an accurate look at today's rental landscape.

Resident Demographics and Respondent Profile