Look Into the Future With These 5 Real Estate Trends That Will Keep You Ahead of the Curve in 2025

September 18, 2023

Have you ever wondered what the future holds? For real estate, for your portfolio, or just life in general?

Everything would be so much easier with a crystal ball that foretold the outcomes of every difficult decision you have to make as a property manager. And boy, oh boy, do I wish I was here to tell you we could predict the future for you.

But alas, fortune-telling is a guessing game. More art than science. But that doesn’t mean there aren’t ways to get a glimpse into the possibilities of tomorrow.

Trend prediction is a viable alternative, and companies pay big bucks for those specialising in it.

Why? Because getting ahead of the competition can give you a serious advantage, in nearly every industry, including real estate.

In today’s post, we analysed the leading trend-prediction algorithms and reports to find the top 5 real estate trends in 2023. If you’re here, you’re already ahead of the curve. Keep reading to stay that way.

Why Bother With Real Estate Trends?

Rental homes are an essential service, right? So why bother with trends and forecasts?

Like any industry, even the essential ones, the rental property market can be volatile. It’s directly connected to the economy, meaning nothing is certain.

The best way to guarantee profits and solidify your success as an asset owner, property manager, or landlord is to attract and secure the best tenants.

One surefire way to do that: offering them what they want before any of your competitors can do the same.

In this way, keeping up with real estate trends can help you make hay while the sun shines and recession-proof your portfolio for the hard times.

5 Real Estate Trends in 2023

From pet-friendly rentals to modern decor, here’s what’s hip and happening in real estate in 2023.

Real Estate Trend #1: Fur Baby Families

The rise of the millennial renter means many things. But chief among them: a demand for units that are friendly to doggos and grumpy cats.

Statistics show that fewer millennials are having children, instead projecting their parental instincts on fuzzy friends. What does this mean for your rental property portfolio? A few things. First: you may have better luck focusing on pet-friendly amenities like parks, yard space, and hiking trails over family-friendly ones like schools and daycares. Additionally, you may find your pet-friendly units attracting a larger volume of candidates when compared to properties that only accept bipedal occupants. So if you want to cast a wider net to catch premium millennial tenants, start by opening your door and heart to creatures of all shapes and sizes.

Real Estate Trend #2: DIY Renter-Friendly “Upgrades”

The DIY community on TikTok is massive and influential. Gone are the days of beige walls and white appliances—creators like @TayBeepBop have been driving this new era of creative, expressive decor DIYs. One of the latest trends in the DIY community? Renter-friendly upgrades. And we’re not talking about a simple coat of paint. No. These “upgrades” can span every inch of the property: from replacing the hardware on the cabinets to laying peel-and-stick tile over the whole kitchen floor. The reasons behind this are many. Fewer millennial tenants have imminent goals of home ownership in their future. They are increasingly seeing their rentals as long-term abodes. And they want their homes to reflect their hearts. While this is great news for landlords who want long-term tenants, it can sometimes mean a bigger mess on move-out day. The last thing you want is to spend countless hours painting over a Star Wars-themed mural and scraping up residual glue from supposedly “temporary” peel-and-stick tile. So to save yourself from the dangers and realities of DIY renovations, do yourself a favour and add an upgrades clause to your tenancy agreement. It’s up to you how creative you want your tenants to get with your property. You could ask that tenants have all changes approved by the property manager, or you could forbid them outright. But just remember that you’ll likely be the one fixing everything once they inevitably move out. Just one more reason why it’s important to look to the future.

Real Estate Trend #3: Blue Architecture

You may have heard of green architecture—a recent trend where buildings are designed to incorporate greenery like rooftop gardens—but how about blue architecture? Searches for rainwater harvesting architecture and drought-tolerant design have been rapidly increasing amidst a growing need for housing solutions that meet problems posed by climate change. Especially if you manage properties in areas prone to drought, aesthetic rain barrels at a property could attract a growing crowd of environmentally conscious renters. Similarly, landscaping that resists the conditions of drought can boost curb appeal year-round.

Real Estate Trend #4: Sublet It and Forget It

With pandemic restrictions grinding to a painfully slow halt and life resuming to normal, more and more young people are looking to spread their wings and travel. Whether your tenants are looking to spend a summer sipping Aperol Spritz in Italy or a semester studying in the stacks of old English libraries in Oxford, they’ll likely be looking for ways to make travel more affordable. One way to do so is to sublet their space. While at first mention, the idea of a stranger moving in to sublet the space seems scary, think again. Subletting is almost always a preferable alternative to finding a new tenant, but you still need to take precautions. When you’re drafting your lease agreement, include a subletting clause. In a perfect world, all subletters would be screened and approved, just like with regular tenants. This can be a headache since the tenant screening process is notoriously arduous, but there are ways to make it simpler… Which brings us to our next trend.

Real Estate Trend #5: Tech-Savvy Property Managers

Overflowing inboxes? Overwhelming volumes of inquiries? Long and never-ending to-do lists? Endless streams of menial, repetitive, and boring tasks? Those are all things of the past. A few future-focused property managers have already started leveraging software and technology to make their lives easier, but you’re still ahead of the curve. Property management software is one of the most exciting trends on this list because it offers multiple time- and cost-saving benefits. There are a few top property management software options to consider, but let’s use Leasey.AI as an example. First, it helps you attract more tenants. And better tenants. The property managers already using our platform attract 3X more qualified leads per listing, making it easier for landlords to find the best candidates. Then, it reduces the manual workload involved in the leasing process by over 70%. By automating and streamlining the most time-consuming and menial tasks, you’ll have plenty of time to focus on more important things. The final result is over 20 hours saved per listing. Yes, you read that right. 20+ hours saved on the leasing process per listing. Imagine what you could do with all that spare time.

Step Into the Future With Leasey.AI

If you want hard work and less money in your future, then don’t bother trying Leasey.AI. But if you want to work less and earn more, then what are you waiting for? Book a demo to learn more about how we can help.

Realize Value Overnight

Leasey.AI provides a seamless implementation experience — your personal Leasing Assistant will onboard your properties and get your account up and running, so you can start enjoying the benefits of automation instantly.