New data sheds light on owners' thoughts and behaviors.

Rental housing owners are changing course on a few items. According to new research from RentRedi and BiggerPockets, owners are buying less but investing more. Just over half of owners expect to purchase new properties, according to the June data, compared to the November 2024 data of more than two-thirds (67% vs. 53%). More than 43% of respondents said they have no plans to buy or sell properties, down 10 percentage points from just seven months earlier. The top barrier to adding new properties was price followed by interest rates.

Meanwhile, just over a third of owners said they will invest over $20,000 in upgrades; however, the November 2024 survey reported that to be 27%. The $5,000-$20,000 window of upgrades was the only other pricing segment with an increase: About two percentage points.

As far as costs, maintenance cost increases are plaguing owners regardless of portfolio size. Increased insurance costs and property taxes as well as missed rent payments are among the other items impacting owners from reaching their 2025 goals.