What today’s renters really want when searching for a home

A recent Rentals.ca survey offers a closer look at today’s renters: who they are, how they search for homes, and what makes their hunt so challenging.

More than 6 in 10 renters (62%) said they’re struggling to find listings within their budget, and price beat location as the deciding factor for 56% of renters, compared to 44% who prioritized location.

This finding aligns with another survey on what multifamily renters value most: while renters care about their neighbourhood, it’s the monthly cost that often determines where they rent. It’s little wonder then that 52% of renters call the entire search process “very difficult.”

In a tight rental market, lowering prices isn’t always an option for landlords. But that doesn’t mean property managers are powerless to reach out to affordability-focused renters. One of the most effective ways to ease the search process is through pricing transparency.

Renters often waste time and energy chasing listings that seem affordable until the fine print adds hundreds in hidden fees. You can reduce this friction by clearly communicating:

• The total monthly rent (including utilities, if applicable)

• Upfront costs like deposits, application or admin fees

• Any recurring charges, such as pet rent or parking fees

Another important insight: renters aren’t just searching for one-bedroom units. According to the Rentals.ca survey, 48% of renters plan to live with a roommate or spouse, and 51% are in relationships or married.

This has two key implications for property managers:

1. Highlight shared living features like multiple bathrooms, spacious common areas, or equal-sized bedrooms.

2. Grow your inventory of multifamily properties by reaching out to landlords who may not yet see the demand.

The majority of renters (76%) use rental websites as their main search tool, followed by social media. That’s your cue to make sure your listings aren’t just online, but optimized. And now that you know many renters are looking for shared spaces, consider highlighting benefits like affordability (when split between roommates), convenience (move-in ready, furnished common areas), and community (great for co-living or social lifestyles).

For seasoned property managers, much of this insight will confirm what you already know. But it never hurts to check the compass, and this survey suggests you're on the right path. For newbies, it’s a helpful reminder to prioritize renter pain points and tailor your listings accordingly.

And once those renters move in, don’t forget the experience continues. Platforms like PayProp offer renters a better way to pay rent, get reminders, and stay in touch with you, giving them one more reason to stick around and skip the stress of searching all over again.

More amenities headlines

The lag between electric vehicles and rental property regulations – PayProp blog

How homes without basements, stairs could ease northern Ontario housing crisis – CBC

Luxury real estate: It’s all about the amazing amenities – The Globe and Mail