While most landlords expect politics to involve their properties with taxes, zoning, etc… Most do not realize the political affiliations of a community can be a breaking point for potential tenants.
Political Effects on Rental Decisions
An area’s political profile is becoming a large part of the decision-making process when deciding where to live. While this trend has been noticeable, it tends to revolve around younger renters. With 61% of younger people feel strongly or somewhat strongly about living in a community with similar political beliefs, and 48% considering moving to make this happen, landlords will likely notice this effect in their properties.
What this means for Landlords
While there is a noticeable trend among younger people, older adults do not exhibit the same behavior. Older renters tend to prefer their needs be met in their home, rather than picking and choosing based on the community’s beliefs. With the upcoming election, 20% of respondents overall are considering moving based on community beliefs, while 21% are waiting to see the outcome of the election before making a final decision. While there is a trend that cannot be ignored, landlords rest easy, as the percentage of those who would move does not equate to those who actually will in the future, or to where that may be.