Wednesday, November 12, 2014
Millennials, the generation following Generation X, are the newest renters and are different in many ways from past generations. Slideshare reports on how Millennials are unique and what they are looking for in apartments.
First of all, over 76% of Millennials have cats or dogs. By being a pet-friendly apartment complex, you can ensure they will consider your community when looking for housing.
The average Millennial drove 23% less in 2009 than in 2001, which was the biggest drop for any age group. By providing bike storage to your renters, you can attract this group that doesn't feel tied to their car.
10.8 million Millennials have kids and need rentals to fit that lifestyle. Amenities geared towards children like playgrounds and green spaces can go a long way towards attracting this segment of the apartment hunting population.
38% of Millennials would rather pay online and 22% of them have never written a physical check. So providing the option to pay rent online will appeal to their digital payment lifestyle.
Millennials consider safe streets to be the highest priority when searching for a place to live. By focusing on security conveniences like security cameras and alarm systems, you can reach the 76% percent of this age group who consider safety their top priority.
Millennials are highly likely to use reviews and ratings to make decisions on where they live and what businesses they frequent. They are also more likely to share bad experiences than good. So be sure to keep your renters happy so they are more likely to share their good experiences on review sites.
Millennials are heavy texters, so as a property manager, if you are easy to reach via text, you are more likely to keep them happy.
Finally, Millennials see outdoor living spaces of equal importance to indoor ones. So make sure to have lots of outdoor areas where your inhabitants can get together and enjoy the sunshine.