Shifting Preferences in Concessions and More: What Renters Really Want
Market Minute
March 2026 Newsletter
A recently Zillow Group Population Science conducted six nationally representative surveys – each sampling at least 6,500 renter-respondents. In total, the surveys contain information from over 24,400 unique renters – more than 5,700 recent renters and 18,600 tenured renters. Below are some of the key points from the data gathered:
🤝 Negotiating for Rental Concessions & Perks
58% of recent renters said the concession(s) were advertised or offered upfront
25% of recent renters successfully negotiated for the concession(s) themselves
17% selected both – their landlord advertised at least one and they negotiated for another
💸 Which concessions renters consider the “best”
Reduced rent (27%): This is the top concession, with over a quarter of recent renters identifying it as the best.
First month rent free (17%): This is the second most preferred concession.
Something else (16%): This indicates a notable portion of renters value a concession not specifically listed in the other categories.
More than first month rent free (15%): This is also highly valued, coming in just behind “Something else.”
🎯 Renters generally get the number of bedrooms they were looking for
Studios: 69% of renters who wanted a studio rented one
1-bedrooms: 69% stayed with their original plan
2-bedrooms: 73% matched their target
21% of renters who wanted 2-bedrooms ended up in 3-bedrooms
28% of those targeting 3-bedrooms moved into 4-bedrooms
Some renters targeting larger units (3–4 bedrooms) end up in smaller ones, though at lower rates
Renters targeting smaller units are more likely to stay within their original category
The original dataset also includes details on what types of marketing material renters found most essential, renter demographic information and more!
For the link of the full comprehensive report, please email us at sales@nxtmgt.com.
‘Nxt Level’
Asset Preservation: Why Maintenance Can’t Wait
At Nxt Property Management, we believe that every property tells a story — and sometimes, the most valuable lessons come from the challenges we inherit.
In the months ahead, we’ll be sharing occasional case studies highlighting real properties where Nxt stepped in to restore performance, enhance resident experience, and protect owner investment. Each story will shed light on the principles that define our culture: responsiveness, accountability, and a relentless focus on asset preservation.
💧 One memorable example came from a community we took over that had — quite literally — been treading water. The property’s pool, once a key amenity, had fallen into disrepair. Filters were outdated, water quality was inconsistent, and residents had lost confidence in using one of the community’s most visible features.
🛠️ Our team immediately developed a plan. Within weeks, the pool was repaired, the systems modernized, and the amenity reopened with renewed energy and resident pride. But the deeper lesson was clear: deferred maintenance is expensive — in dollars, in reputation, and in resident satisfaction.
📉 In multifamily real estate, small issues left unresolved become big ones fast. Cracked tile becomes structural damage. A slow leak becomes a major repair. And what could have been a routine maintenance item can turn into a capital expense that erodes long-term returns.
That’s why at Nxt, we embed asset preservation into everything we do. Regular inspections, proactive budgeting, and data-driven maintenance schedules ensure that our communities stay in top condition — and our clients’ investments stay protected.
Value of the Month
March’s Value of the Month is: Choose Wisely. We make the right choice even when it’s hard. We spend the right amount of time, effort, and resources to enhance the lives of our associates, customers, and partners.
Ask the Editor
Question: Do small gestures really impact renewals?
Answer: Yes—and often more than large, expensive upgrades. Small, consistent gestures build trust and emotional connection, which are key drivers of renewals. Simple actions like timely follow-ups, clean move-ins, a handwritten welcome note, or a quick check-in after maintenance reinforce that residents are valued. When residents feel seen and cared for, they’re more forgiving of minor issues and more likely to renew—even in competitive markets.
This is why we encourage all our team members to embody our Personal Touch culture in every interaction. This means that they strive to make a loving and meaningful connection with those around them and to go above and beyond when serving.
As always, feel free to send any questions about the apartment world to sales@nxtmgt.com, and we would love to feature and answer the questions in next month’s newsletter.
Until next time,
