How to Attract Next Generation Renters

How to Attract Next Generation Renters

The term “next generation” or “Gen Z” is a reference to anyone born in the 1990s. Anyone born in the Gen Z era grew up in the Digital Age with access to technologies that never before existed. Currently, this is the primary generation looking for their first apartments and rental homes. Fortunately, there are many ways that a property manager can appeal to the abundance of next generation individuals.

According to studies, there is research proving how reliable and consistent Gen Z individuals are as tenants. This recently gained knowledge makes it easier for property managers to come up with an effective marketing plan which they’ll also base on demographics and other studies.

The Positive Traits of a Gen Z Tenant and How You Can Use These Traits to Your Advantage

  • Gen Z tenants rarely write out checks as a form of rent payment. In fact, offering online payments is an effective way to attract tenants. It also gives tenants an easy way to pay rent without the hassle of dropping it in a deposit box. They can use their smartphones or other forms of online resources to quickly pay their rent.
  • A lot of the research conducted by Gen Z individuals is done online. Advertising your vacancies on the Internet is the most effective way to grab the attention of a Gen Z person looking to rent.
  • Gen Z tenants want Wi-Fi connection wherever they go. Individuals of this generation don’t look for cable services as much as they once did. In fact, their greatest concern these days is having connection to the Internet. As a rental owner trying to appeal to new tenants, you could create a gathering room in the building that allows tenants free Wi-Fi service.
  • According to research conducted by Wakefield Research, Gen Z people are liable to pay more for the right apartment or rental. If a rental property has smart electronics and appliances, it is likelier to rent out to Gen Z tenants and eventually Millennials.

Renting out vacancies to Gen Z persons is a great way to increase profit. As a property manager or rental property owner, try to accommodate the needs of this generation the best you can. They are the ones most likely to rent from you. A professional property management agency will understand the need to appeal to Gen Z individuals looking to rent in the area.