Ways to Appeal to Younger Renters
Young apartment hunters have countless rental options on multiple platforms at their fingertips. It would help if you evolved to match their preferences to remain competitive. The following are three tips to appeal to younger renters.
Virtual and self-guided tours
According to Statista, 52% of Gen Z apartment hunters prefer virtual and self-guided tours. Virtual tours allow potential residents to preview your property without spending money or leaving their homes. They can "walk" through the property or view digital simulations of common areas. Self-guided tours apply to in-person, independent tours. Allow young renters the option to find their way around.
Discuss Your Property's Sustainability Practices
Gen Z is known as the sustainability generation. A First Insight survey says that 73% of Gen Zers are willing to pay more for sustainability. Emphasize the green-friendly practices on your property to prospective renters. These could be community compost areas, recycle bins, or green cleaning products. Bring up any energy-efficient appliances or smart technology, and consider installing low-flow showerheads. Consider adding a garden or more plant life throughout your property's interior or outdoor areas.
Create or Spruce Up Communal Areas
After the social distancing era, young residents want to leave their rooms and mingle. Add new plants or decor to the communal areas. Leave board games or magazines, or host a community event. Also, consider creating additional communal spaces. For example, outdoor lounge areas allow residents to relax and socialize while getting fresh air. Provide lounge chairs or update your old equipment, like grilling. Lights add a decorative touch.
Catering to younger renters means providing digital experiences, sustainability practices, and opportunities to make connections. If you're looking for ways to improve your multi-family residences, Targa Real Estate manages over 60 multi-family properties. Please don't hesitate to contact us for your property management needs.