The four-legged factor: Pet friendliness is a heavy draw in build-to-rent communities

Redwood Living, Inc. • May 9, 2024

Build-to-rent residents love their pets – and choose their homes accordingly. 

As many as two-thirds of residents say pet friendliness is a very important part of their housing decision. 


The data is part of a recent survey for the New Home Trends Institute, part of John Burns Research & Consulting, which Redwood participated in along with several others in the industry. 


It includes results from more than 6,000 build-to-rent tenants nationwide and provides exceptional insight into this changing industry. This is the fifth in a series of pieces detailing those findings. 


“Residents’ emphasis on the importance of their pets is no surprise to us, and it’s why we go above and beyond to show that pets are welcome in Redwood Neighborhoods,” said Steve Kimmelman, Founder and CEO at Redwood. 


“We allow up to three pets in each home, which far exceeds the standard in our industry and has become a wonderful perk for dedicated pet owners.” 


Plus, at Redwood, residents pay the same in pet rent and up-front fees regardless of if they have one pet or three—another differentiator for the operating platform. 


According to the survey, an estimated 45 percent of renters have a dog, which is in line with the national average for households. Additionally, 16 percent report having at least one cat. 


“[I] chose my home because three dogs were permitted,” one survey respondent said. 


Prioritizing pets can even lead to renters increasing their housing budgets. 


“[There were] many cheaper options on [the] market [but] I selected my home because it was the only place that allows pets with no discrimination,” one resident said in the survey. 


The heavy emphasis on pets was consistent across residents from various life stages. 


“[I selected my home because] it was the only pet friendly apartment available for rent in the area at the time when I needed to move,” one resident said in the survey. “No other factors influenced my selection.” 


Other elements of the Redwood living experience add to its neighborhoods’ pet friendliness. 


“These are single-story spacious floor plans with attached garages, so it’s very easy to go outside with your dog,” Kimmelman said. “Our neighborhoods are also extremely walkable with lots of green space.” 


In previous pieces exploring the New Home Trends Institute Survey, data indicates that build-to-rent tenants consistently cite location as their main driver in choosing a home, for a variety of reasons. Redwood dives deeper into those findings here


Additionally, the survey revealed that build-to-rent tenants often place heavy emphasis on the quality of their professional property maintenance. Redwood details that data here


 

For those looking for investment opportunities in the BTR sector, fill out our contact form to get connected with a member of Redwood’s investor relations team. 


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