Rental Conditions, Inspections, Neighborhoods, and Plans to Move
Most Renters Get at Least Some of Their Deposit Back
Among the 73% of recent renters that moved from a previous rental, about two in every five (43%) reported getting their entire deposit back. One in five (19%) say they got most of it back, 7% say they got some of it, and another fifth (22%) say they did not get any of their deposit back. The remaining tenth (10%) say they never paid a deposit at their previous rental. Renters of color were more likely to say that they did not get any of their deposit back (26%) than white renters (18%). White renters, conversely, were more likely to say that they never paid a deposit at their previous rental (12% of white renters versus 8% of renters of color).
Three Quarters of Renters Documented Their Rental’s Move-In Condition
About three quarters of renters (74%) say they documented their home’s move-in condition in at least one way. The most common was taking photos and/or videos of the move-in condition (36%). A third (33%) of renters filled out a property condition checklist or report. A quarter (25%) told their property manager in person or over the phone.
Of the renters that told their property manager orally, not quite half (44%) also completed another step like taking photos, videos, and/or filling out a checklist or report.
Among those that filled out a move-in inspection checklist or report, 30% completed it with their landlord. About half (49%) completed it with their property manager, and 3% completed it with both their landlord and property manager. About a fifth (19%) completed the checklist on their own – without their landlord nor their property manager.
Renters that Documented Their Move-In Condition With Pictures and/or Videos More Likely to Get Their Deposit Back
Half (56%) of deposit-paying recent renters that reported taking photos and/or videos of their previous rental’s move-in condition said they got their entire deposit back – higher than 40% of those who said they did not take photos and/or videos.
| Among deposit-paying recent renters that moved from a previous rental, share that got their deposit back | Took photos/ videos | Told landlord/ property manager orally | Checklist/ Report | Any | None | |
|---|---|---|---|---|---|---|
| All returned | 47% | 56% | 45% | 42% | 49% | 39% |
| Most returned | 21% | 17% | 23% | 25% | 22% | 16% |
| Some returned | 8% | 6% | 11% | 13% | 8% | 5% |
| None returned | 24% | 21% | 20% | 20% | 20% | 39% |
| Any returned | 76% | 79% | 80% | 80% | 80% | 61% |
Recent renters that told their landlord or property manager manager in person or over the phone were similarly likely to lose their deposit to those who did not: 20% of recent renters that told their landlord/property manager orally did not get any of their deposit back – similar to 26% of those who did not communicate orally.
Tenants that did at least one of photos, videos, phone/in person communication, and/or a property condition checklist/report were more likely to get their entire deposit back (49%, versus 39% of tenants that did none of those).
Half of Recent Renters Report At Least One Move-Out Disagreement with their Landlord or Property Manager
About half (49%) of recent renters that moved from a previous rental say they disagreed with their landlord or property manager about something. About a fifth (22%) said they disagreed about repair, damage or maintenance on the property and another fifth (19%) said they disagreed about move-out costs or fees. One in seven (14%) disagreed about the responsibility for utility payments like electricity, heat, gas, or internet.
Renters that Stayed Put Most Likely to Cite a Good Deal, Affordability as Their Reasons
When asked what encouraged them to stay at their current rentals, tenured renters were most likely to say that their rental costs were a good deal (67%), followed by not being able to afford to move somewhere else (62%). Smaller shares cited liking their landlord or property manager (54%), a floor plan or layout that fit their preferences (53%), and private outdoor space (41%). Tenured renters were least likely to cite their rental’s common amenities like a gym or conference room (23%) as encouragement for staying put.
Most Renters Say their Home Could Use at Least a Little TLC
Only a quarter of renters (25%) say their home was “like new” when they moved in. The largest share (45%) said their home could use a little updating in a few areas. About another quarter (23%) said it could use some serious updating. And a small 6% said their rental was in need of a complete overhaul.
Renters in multifamily buildings (with 50 units or more) were most likely to say that their rental’s move-in condition was “like new” (40%) – higher than 17% of single-family detached home renters and 24% of renters in other types of homes (like townhouses and small/medium apartments).
Most Departing Renters Say they Left Their Rental as They Found It
The majority of renters that moved from a previous rental said they left the unit in the same condition as they arrived (61%). About a fifth say they left it in worse condition (20%) and another fifth say they left it better than they found it (19%).
Tenants that left their unit in worse condition were, unsurprisingly, the most likely to lose their entire deposit: 35% of these deposit-paying renters reported losing all of their deposit, versus 24% who left their rental in the same condition, and 15% who left it in better condition.
Almost Two Thirds of Tenured Renters Report Having At Least 1 Common Amenity
Under two thirds of tenured renters (62%) say their rental includes some kind of common amenity – the most common being a private fenced yard or garden (28%). A fifth (21%) say they have a private yard or garden that isn’t fenced. The least common amenities include a gym or fitness center (16%), a conference room or business center (11%), a rooftop deck (7%), and a pet washing station (3%).
Tenured renters with dogs are more likely to report having a private fenced yard: A third (36%) of tenured renters with at least one dog in the home say their rental includes one, versus 22% of tenured renters without dogs.
High Importance of Neighborhood Characteristics Creeps Upwards
Renters surveyed in 2022 similarly likely to consider most neighborhood characteristics as very or extremely important.
| Share of Recent Renters that Consider each Neighborhood Characteristic Very or Extremely Important | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Close to family and/or friends | 36% | 37% | 38% | 39% | 37% |
| Close to shopping, services, and/or leisure activities | 47% | 50% | 51% | 49% | 49% |
| Close to public transportation | 36% | 35% | 34% | 31% | 33% |
| My commute to work or school | 58% | 57% | 55% | 52% | 56% |
| In a walkable neighborhood | 55% | 56% | 55% | 56% | 57% |
| Offered a sense of community or belonging | 33% | 34% | 34% | 35% | 39% |
Almost All Renters Consider Staying Within Budget “Essential” in Choosing a Rental Home
A near-unanimous share of renters (93%) said they consider staying within their initial budget as “essential” – higher than any other characteristic we asked about. Having their preferred number of bedrooms (85%), bathrooms (71%), and floor plan or layout (68%) all trailed. A majority of renters also said that broadband internet was essential (65%), while closer to half (56%) said they considered gigabit internet the same. A smaller share (46%) said that having 2 or more internet providers to choose from was essential. And 44% said the same about the home being newly built or recently renovated.
Renters More Likely to Say that Home Prices are Too High
Four in five renters (86%) say that housing prices are too high compared to fair value – higher than about two thirds (64%) of homeowners. Only one in ten renters (11%) say that housing prices are just right. The remaining 2% said that housing prices are too low.
Lower Mortgage Rates Could Turn More Renters into Buyers
Renters are more than twice as likely to say that they would be extremely likely to buy their next home if rates fall (35%) than if they rise (14%). If rates continue to rise, according to renters, then half say they are not very or not at all likely to buy their next home (54%), compared to only 30% who say the same if rates fell.
Methodology
Research Approach
To supplement research from the Renters Consumer Housing Trends Report 2022, Zillow Group Population Science conducted two nationally representative surveys – each sampling with at least 2,500 renter-respondents. In total, the two surveys contain information from over 4,700 unique renters – more than 1,400 recent renters and 3,200 tenured renters. Participants were allowed to take more than one survey. The study was fielded between May and September 2022.
For the purpose of this study, “renters” refers to household decision makers 18 years of age or older who rent their primary residence. “Recent renters” refer to those that moved in the past year, and “tenured renters” refer to those that did not move in the past year.
