A survey conducted by the National Apartment Association has determined that 76% of adults feel that there are advantages to renting in the current real estate market as opposed to owning. These results show a five percent increase from the NAA 2008 survey.
Out of the 76% of residents that feel as if renting is the best choice for now, 60% state that they will either remain in their current rental unit within the year, or will rent from another unit. Only 16% of those polled were even considering purchasing a home within the year. With the majority of residents having no plans to leave multifamily rental units, now is the perfect time to consider submetering your multifamily property.
According to the property managers surveyed in a study conducted by the Association of Residential Property Managers (NARPM) and GreenPropertyManagement.com, 45.5% of residents have expressed interest in renting greener properties, with the amount of environmentally conscious residents steadily on the rise.
Interested in learning how to make your property more energy efficient to attract residents and save money this heating season? Submetering is an environmentally friendly practice that promotes conservation while increasing your property value. Contact WaterWatch today to learn more about our water, gas, and electric submetering services.