Overview
Affordability remains the top factor renters weigh when choosing a rental, and a growing share of tenants now expect digital tools throughout the process: online applications, remote or 3D-tour viewings, and online rent payment. Pet ownership among renters has also climbed over the past several years. Landlords who offer flexible deposit terms (including Florida's fee-in-lieu-of-deposit option under F.S. 83.491), pet-friendly policies, and a fully digital application and payment experience are better positioned to fill vacancies faster and retain tenants longer.
What Renters Prioritize
Affordability consistently ranks as the top concern for renters shopping for a new home, according to Zillow's Rentals Consumer Housing Trends research. Landlords competing for tenants should keep pricing sharp relative to comparable units and consider concessions where the market calls for it.
Actionable steps for landlords:
- Offer concessions that align with affordability concerns, such as a free month of rent, competitive pricing, or free parking during slower leasing periods.
- Consider alternatives to a full upfront security deposit, such as Florida's fee-in-lieu-of-deposit option.
Security Deposits: Still the Norm, But With a Legal Alternative in Florida
Security deposits remain standard practice across the rental industry, and Florida does not cap how much a landlord can charge. But since 2023, Florida landlords have had a statutory alternative: under Florida Statute 83.491, landlords may offer tenants the choice of a recurring monthly fee instead of a traditional upfront deposit. Offering it isn't mandatory, and landlords who do offer it generally must offer it to all new tenants at the same property.
Actionable steps for landlords:
- Review your current deposit policy and consider whether a lower deposit or fee-in-lieu option would widen your applicant pool.
- If offering the F.S. 83.491 fee alternative, provide the required written disclosure and apply it consistently to new tenants at the property.
Pet-Friendly Policies Are a Competitive Advantage
A meaningful and growing share of renters live with a pet, and most pet owners will skip listings that don't allow pets. Landlords who accommodate pets, whether through policy or property upgrades, open themselves up to a larger tenant pool.
Actionable steps for landlords:
- Check your condo association's rules before changing a pet policy, since many Miami buildings set their own restrictions.
- If you decide to accept pets, consider pet-resistant flooring upgrades such as vinyl, tile, or water-resistant laminate.
- Clearly state pet policies, weight limits, and any pet fees or rent in your listing to avoid wasted showings.
Renters Are Searching, Applying, and Touring Digitally
Rental searches have shifted toward mobile devices and apps, and a meaningful share of renters now sign leases with little or no in-person touring, relying instead on photos, video walkthroughs, and 3D tours to narrow their choices. Online applications and digital rent payment have also become the expectation rather than the exception.
Actionable steps for landlords:
- List with a real estate agent who uses 3D tours and video walkthroughs, and syndicates your listing to major rental portals through the MLS.
- Offer an online application, which reduces friction for prospective tenants and speeds up leasing.
- Accept digital rent payment. Tenants increasingly expect this, and it reduces the administrative burden of collecting paper checks.
