• 56% of U.S. renters are ready to move, with Gen Z driving demand for modern amenities
• Majority believe rent should cover water and trash expenses
• Gen Z prioritizes rental homes with security cameras, video doorbells and smart locks

PHOENIX--(BUSINESS WIRE)--Jun. 26, 2025-- SmartRent, Inc. (NYSE: SMRT), the leading provider of smart communities solutions and smart operations solutions for the rental housing industry, today released new findings from its nationwide survey of renters, conducted in partnership with Morning Consult. As the highly competitive summer rental season unfolds, the results reveal the nuanced approach renters are taking as they consider their next home. While many are open to moving, they bring firm expectations to their search, especially around core utilities and technologies.

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A new survey of 939 U.S. renters reveals that 56% are ready to move - driven by a desire for more space, new neighborhoods and rising rents. Most expect basics like water and maintenance to be included, and many prioritize smart home features like security cameras and keyless access. Younger renters, especially, show high mobility, with 68% open to relocating for a lifestyle upgrade.

Renters are Ready to Relocate

According to the survey of 939 U.S. renters, 56% are ready to move out of their current rental property. Respondents cited desiring more space (26%), wanting to live in a new neighborhood (24%) and price increases at their last residence (21%) as the top reasons behind their most recent moves. These driving factors illustrate why renters might want to relocate even during the high season.

In addition to reasons why renters leave their rental homes, the survey also uncovered several areas where they aren’t willing to settle as they search for their next property, despite the competitive market.

Renters Expect Core Utilities and Services Included in Monthly Rent

When asked about what they would expect to be included in their monthly rent, 61% said their property manager should cover water, 53% said trash and 43% said on-site maintenance. These priorities indicate that renters have a standard level of convenience and care that they believe should be built into the rental experience. Basic living standards took precedence over building amenities like a gym, pool or common outdoor space. Importantly, this also underscores the need for transparent fee structures, as renters want to avoid surprise charges and know exactly what they’re expected to pay for. The data also reinforces that clear expectations around the services included help to build trust and satisfaction in the rental relationship.

Security Cameras and Smart Locks Top Renters’ Wish Lists

Renters want modern technologies, and they look for these factors during their rental searches. Many renters said the following smart home technologies are “very important” or “somewhat important” to have in their next rental property: Networked security cameras (69%); smart door locks/keyless access (58%); and smart thermostats (56%). These features are designed to enhance safety and reduce utility costs, making them differentiators in a crowded market.

Young Renters Offer Potential for Property Managers

Young renters still present the biggest opportunity for property managers during this peak rental season. Sixty-eight percent of 18-to-29-year-old respondents say they’re open to relocating – the highest of any cohort surveyed.

These renters indicated the strongest preferences for what they’re looking for in a property. They reported that their motivation to move is determined much more by the opportunity for lifestyle upgrades than rent increases, with 34% looking for more space and 26% wanting to try a different neighborhood.

They’re also the age group most frustrated by the lack of security in their current rentals, as 21% of them flagged it as a key concern. This relates to their tech-forward tendencies; they expressed the strongest interest in smart technologies like networked security cameras (72%), video doorbells (70%) and smart indoor lighting (57%) when compared to other age groups.

Gen Z renters are less driven by rental costs, are very willing to move and are the most vocal about wanting larger apartments equipped with smart home staples. As such, property managers who deliver these upgrades can attract, and more importantly retain, this important demographic in the ever-competitive landscape. Offering peace of mind enhancing devices directly addresses a major pain point while reinforcing the lifestyle upgrade this age group values most.

“Renters have high expectations, especially in competitive markets,” said Frank Martell, President and CEO of SmartRent. “Our survey shows that when operators bundle essential utilities with smart‑home features, they stand out, especially among renters under 30 years of age. This is on top of this technology also lowering costs. Renters today want transparency, as well as the convenience and technology that fits their lifestyles. By helping property managers deliver on these priorities, we’re supporting a smarter, more connected rental housing industry, preparing them for what comes next.”

To learn more about how SmartRent can help meet the renter expectations uncovered by the survey, visit www.smartrent.com.

Methodology: Morning Consult interviewed 939 renters in the United States between May 27^th – 29^th, 2025. The Margin of Error for the total sample is +/-3 at the 95% confidence level. The interviews were conducted online and the data were weighted to approximate a target sample of adults based on gender, educational attainment, age, and region.

About SmartRent

Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading provider of smart communities solutions and smart operations solutions to the rental housing industry. SmartRent’s end-to-end enterprise ecosystem powers smarter living and working in rental housing by automating operations, protecting assets, reducing energy consumption, enhancing the resident experience and more. The company’s differentiators - purpose-built software and hardware, and end-to-end implementation and support - create an exceptional experience, with 15 of the top 20 multifamily operators and millions of users leveraging SMRT solutions daily. For more information, please visit smartrent.com.

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Media Contact
Amanda Chavez - Vice President, Marketing and Communications
media@smartrent.com

Investor Contact
Kelly Reisdorf - Head of Investor Relations
investors@smartrent.com

Source: SmartRent, Inc.