Millennials are persons born in the 1980s and 1990s, and they are a huge trend in the real estate market. What makes them different from previous generations of renters and what can a landlord do to attract this valuable client?
- Millennials do their research. After growing up with information at their fingertips, Millennials find it easy to look for and find the facts they need.
- Millennials need less space. They’re not into collecting fine china or antiques. Their technology is small. A great room is not as attractive to them as an efficient kitchen.
- Millennials are visual. To appeal to this group, make sure that your online presence is attractive, with quality photos and precise descriptions. If they don’t like what they see online, they won’t visit the premises for a look around.
- Millennials need affordability, but rent longer. And they know how to comparison-shop.
- Millennials want “smart features.” Whether it’s energy-efficient appliances and light bulbs, or hardwood and open floor plans, this age group wants the latest thing available. And they’re willing to pay to have those upgrades.
Now may be the perfect time to examine your rental property to see which renters it will attract. For a free evaluation and other information, contact us.
Real Property Management Premium
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.