18 Apr How To Attract Young Renters
Millennials… the coveted demographic. Wikipedia says characteristics of the generation vary by region, depending on social and economic conditions. However, it is generally marked by an increased use and familiarity with communications, media, and digital technologies.
It is believed that they will save the housing market, be it buying or renting. Builders are looking to attract them, so here are a few ways to reel them in.
Sleek and Sophisticated Design
Clean, modern lines and open, resort-like spaces are a way to catch the eye of Gen Y. Large community rooms and shared amenities are appealing. This generation is looking to be calm yet inspired.
Reach Them Where They Hang Out
Social Media is a must, not just to attract new residents but to also retain current ones. It helps them feel like part of a community that they can connect with us just like they would with their friends and relatives. Just like the general Social Media philosophy, they are not posting ads and specials, rather updates on community events like restaurant openings and shows, with a sprinkling of new promotions.
Live-Work-Play Still Applies
The way a building is designed establishes its position in a community. The most important aspects are proximity to transit or walking to work, street-level retail and special deals for residents at local businesses.
Although young renters may not be willing to pay extra rent for green features, they expect them as standard. It’s a new value system. Things like providing recycle bins and efficient appliances will go a long way in building for the Millennial Generation.