Rental Realities: What Property Managers Need to Know
Today’s renters aren’t who they used to be. They’re often older, more financially stretched, and less likely to view resident insurance as a priority until it’s too late. With 44.1 million households living in rentals (National Multifamily Housing Council, 2024), these residents are a major part of the housing market, and they bring new challenges for property managers.
The New Resident
According to Zillow, the average American renter is now 39 years old. Typically, a working professional, often a parent, and likely renting long-term. The financial reality for many renters is tighter than ever:
- 12 million renters spend more than half their income on housing (Harvard, 2024)
- Many renters are in the gig economy, with inconsistent income streams
This means higher stress, less financial flexibility, and decisions made reactively rather than proactively, especially when it comes to renters insurance.
Why This Matters for Property Managers
For property managers, this shift in renter demographics often leads to
- Lower compliance rates on insurance
- More resident disputes and turnover
- Missed opportunities for better renewals
- Increased pressure on your leasing team
Changing Perspectives into Action
Smarter communication will lead to better results. When coverage is explained in practical terms, it shifts from feeling like a burden to becoming a true benefit by giving renters protections from issues such as:
- Break-ins and theft
- Water damage
- Liability issues such as dog bites
Property managers can bridge this gap by using relatable, resident-focused messaging, and by working with the right insurance partner who streamlines compliance, and helps residents see insurance as peace of mind rather than just another requirement.
For a deeper look at renter realities, check out this webinar where Steven Nelson of RAM Partners, LLC and Amy Matlock unpack today’s renter challenges and opportunities. Click here to watch.
Discover how ePremium can help you improve lease compliance, reduce disputes, and make renters insurance a true value-add for residents. Let’s talk.