Prospectiveapartment rental online searches increased in April after droppingdramatically in March when shelter-in-place restrictions wereordered across the country. According to research from Yardi's RentCafé, online apartment searches increased 17% in April compared toMarch. However, according to the data, searches haven't increasedsteadily over the month, but rather moved up and down sporadicallyweek-to-week.
Renters today are looking for housing options that are moreconducive to health and safety under the pandemic. This includes apreference for new construction properties with higher quality airfiltration systems, antimicrobial building materials and storagefor pandemic-related materials. "New construction offers rentersthe ability to be the first person to live in a given unit,"Ryan Shear, managing partner ofPMG, tells GlobeSt.com. "These new developmentsoffer technology that limits physical contact, including mobileapp-based keyless entry and smart package lockers. Also,new construction projects are able to install ungraded air filtersand antimicrobial building materials."
While moving is difficult during the shelter-in-placerestrictions, the pandemic could increase rental demand once thoserestrictions are lifted. "Apartments are generally the mostflexible living arrangement amidst uncertainty," says Shear."People who were planning to buy a home are going to wait and seehow everything pans out in the market before deciding to invest inproperty. Apartments are becoming more appealing to these buyers,contributing to why apartment rent searches are increasingagain."
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