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3 Ways to Appeal to Millennial Renters

3 Ways to Appeal to Millennial Renters

Last week, we dove into ways to attract the newest cohort of renters — Generation Z. Today, we’d like to revisit the generation that is currently signing the most leases and filling up units — millennials! While Gen Z is slowly catching up, millennials should still be top of mind when it comes to assessing your amenities and features.

Here are a few things to consider when appealing to millennial residents:

Make Your Facilities Eco-Friendly

Similar to Gen Z, millennials are quite eco-conscious. Many are at the forefront of tackling the issue of climate change. You can take advantage of that by making your facilities eco-friendly. For example, use non-pollutant paints and install solar panels to provide energy for your buildings. Don't forget to advertise the measures you have taken to make your property eco-friendly.

Reduce the Amount of Paperwork

Millennials prefer online transactions. So, when it comes to depositing rent, you should offer the option to pay online. Also, have a standby system that sends notifications to their phones about repairs and maintenance. They will see these services as a convenience.

Make Your Property Pet-Friendly

Most property owners have by-laws concerning things such as pets. Millennials treasure their furry companions and many of those without pets would love to expand their family to include one. So, if you add a clause to your by-laws that allows pet ownership, you can attract millennial tenants in droves. The simplest way to achieve this is to plan for your property to accommodate pets at construction. For example, use hardwood or composite floors, which are pet-friendly.

While these simple tips will attract millennial tenants to your Tacoma, WA property, they appeal to a wider variety of demographics as well. If you are looking for more guidance, contact us for assistance on how to get the most out of your real estate investments.