What to look for in a long-term rental property
The sharp increase in home prices has been well documented in recent years. Though price increases have varied from market to market, the National Association of Home Builders reports that the average home price increased by 55% between the first quarter of 2020 and the third quarter of 2025.
Many adults who otherwise would be in the market to buy a home have felt priced out by the sharp increase in prices. That's led many to the rental market, where more and more adults are looking for long-term solutions. Much like the process of buying a home, finding a long-term rental requires would-be renters to be diligent, patient and honest with themselves about what they're looking for. With that in mind, adults looking for a long-term rental property can keep these tips in mind during their search.
• Get a clear idea of all costs associated with a property. Monthly rent is the primary expense associated with a rental property, but there might be ancillary costs as well. In addition to the rent, a property might include fees for parking, trash, fitness facilities, recreational facilities like a community pool, and other expenses. These fees can quickly add up, but it's good to note that some of them might remove additional expenses. For example, a property with an on-site fitness facility may come with a monthly access fee, but that fee could be less than an expensive membership at a nearby gym. Take note of all expenses associated with a property and if some of them will cancel out other monthly bills.
• Get a handle on a potential landlord. Many renters prefer a responsive landlord who takes their concerns seriously and is quick to act when an issue arises. Long-term renters who find a property they like will be dealing with the landlord for years to come, so prioritize finding a landlord with a strong reputation among past and current renters. Many landlords do not have direct access with tenants but communicate through property management firms. Ask the rental listing agent which type of arrangement exists at each property and, if possible, speak with current tenants to get an idea of the dynamic between the landlord/property manager and residents.
• Consider the location. A low monthly rent might be hard to resist, but if a property is far away from the office, those cost savings could be erased by expenses related to getting to and from work each day. It's also worth noting that a big advantage to renting is the smaller time commitment related to renting a property as opposed to owning one. Rental maintenance and routine property upkeep like mowing is typically left to a landlord or property manager, allowing renters to use that extra time for recreational pursuits or other endeavors. But that advantage can quickly vanish if renters are spending much of their free time commuting.
• Inquire about rent control. Rent control laws, if they exist, vary by municipality. Many renters consider finding a rent-controlled property akin to finding a needle in a haystack, but it can be done. Rent control laws often regulate how much a landlord can increase rent at the end of each lease, and those allowable increases tend to be much smaller than the increases that have characterized much of the rental market in recent years. Prospective long-term renters are urged to work with a real estate agent to find a rent-controlled property in their desired location.