Renter Priorities Have Changed. Here’s How Smart Investors Capture the Upside.

The signal behind the headlines

A fresh GlobeSt report sums up what many of us feel on the ground: renters’ priorities have shifted, and a lot of supply hasn’t caught up yet. In other words, there’s a growing mismatch between demand and what typical properties are offering. For investors, mismatches are an opportunity.

Two more data points reinforce the story:
➤ Concessions just hit record levels as owners compete for leases—evidence that residents are choosier about value, features, and experience.
➤ Headline rents ticked lower in September (seasonally), underscoring how price sensitivity and comparison-shopping are reshaping decisions.

What today’s renter is actually optimizing for

While every market is local, 2025 leasing conversations rhyme across metros:

1. Value over vanity
Residents will pay for the right upgrades, but not for underused luxuries. That’s why we prioritize in-unit improvements (durable flooring, modern kitchens, lighting) and high-impact community basics (package solutions, smart access, clean common areas) instead of splashy, low-utilization amenities. The surge in concessions is a tell: the market is rewarding practical value.

2. Flexibility and fairness
More prospects are asking for clarity on renewals, transparent fees, and occasional flexibility on lease terms—especially with many watching budgets closely. National rent prints show shoppers are cost-conscious and willing to move for a better deal.

3. Livability that fits daily life
Pet-friendliness, safe/clean grounds, reliable maintenance, and work-from-home usability consistently beat “wow” amenities in actual leasing outcomes. When landlords under-deliver here, they end up buying demand back with concessions.

Why this is a tailwind for value-add

When preferences pivot toward value, livability, and service, renovated Class B/B-minus communities priced below new construction have a structural advantage:

➤ Price positioning: We’re intentionally below Class A rents while delivering a “new-enough” experience. In a market where concessions are rising, value-add can win heads-up without heavy giveaways.
➤ Targeted upgrades: Dollars go into what residents use daily (unit interiors, access control, lighting, landscaping, pet spaces, package handling), not into costly, low-ROI amenities. That aligns with the “changed priorities” thesis.
➤ Speed to market: We can execute upgrades in weeks, not years—meeting evolving preferences faster than new supply can deliver.

The Faris playbook (built for this cycle)

Our team designs each project around what today’s renter will pay for—and we measure it unit by unit:

➤ Unit-level impact: LVP flooring, modern fixtures, kitchen/bath refreshes, energy-smart packages.
➤ Everyday convenience: Smart locks, package lockers/rooms, improved lighting and wayfinding.
➤ Pet-first touches: Fenced dog runs, stations, and clear pet policies.
➤ Resident experience: Proactive maintenance and responsive communication—because service is an amenity.

That’s exactly how you capture demand without resorting to permanent price cuts—and why we were comfortable closing in metro Atlanta while many owners were still deciding how to respond.

What this means for investors

The combination of shifting renter preferences and heightened competition (concessions) creates two paths for operators:

➤ Chase with discounts, compressing margins; or
➤ Align with demand, earn leases at sustainable rents, and preserve NOI.

We choose the second path. It’s the more durable way to compound returns, and it’s how we intend to run our newly closed assets and the next offerings.

What’s next—and how to get in early

We’ll share full details on our upcoming acquisition shortly. If you missed our latest raise, consider this your heads-up: we’re buying where the preference shift is our tailwind—markets with solid demand, limited new luxury supply headwinds at our price point, and room to create immediate, lived-in value.

👉 Reserve priority access to the next Faris deal (no obligation; first look when we open)

👉 Book a 15-minute call to see if our approach fits your goals

Bottom line: Renter priorities have changed. Owners who adapt will set the rent, not the other way around. We plan to be in that first group.

Sources: GlobeSt, “Renters Say Their Priorities Have Changed But Landlords Aren’t Keeping Up” (Oct. 17, 2025); “Rental Concessions Hit Record Levels as Landlords Compete for Tenants” (Oct. 20, 2025); “Rents Edge Lower in September as Off-Season Slump Deepens” (Oct. 2, 2025).