How Property Managers Can Appeal to Modern Renters

Written by Posted On Tuesday, 19 April 2016 08:49

The generation that was born between 1977 and 1995 is often referred to as the Millennials, according to the National Apartment Association. Right now, that is the largest generation in the United States, and they are also more likely to rent homes than Generation X or the Baby Boomers.

These young adults mostly came of age during the information age, so they have mostly enjoyed access to the ability to research companies and brands. They tend to rely upon their research more heavily than previous generations. It's important to keep this in mind when marketing rental properties to today's younger adults.

Marketing to Today's Renters

Marketing to this group often hinges upon satisfying their curiosity and allowing them to interact with a company. Not only do Millennials tend to demand a good customer experience, they like to make purchases that they believe would appeal to their peers. Since this group is so large, property managers who can successfully appeal to them are likely to enjoy a good amount of business.

Here are some tips to help connect with the largest group of today's renters:

  • Go mobile: To younger renters, even emails may be too slow and old fashioned. It's a good idea to add text communications for both marketing and general updates. Text messages are more likely to get viewed and responded to quickly. Of course, it's important to only send out text messages if they are relevant. If Millennials find that these texts have value, they won't mind them.
  • Use social media: The younger generation loves to share with their peers. Property managers who maintain active social pages can interact with prospects and existing renters this way. It also makes it likely that current renters will share their experiences with their own circle of contacts. Also, younger adults tend to use search engines to find information that they need. This includes major search engines, and social and directory searches. It's a good idea to stay active on major social sites and local business directories to make sure that potential renters find properties.
  • Promote value: Sadly, many of today's renters face burdens that their older siblings or parents may not have faced. They may have large student loan debts and struggle to find higher paying jobs. No matter which economic level that a property appeals to, it's important to stress the value of the home that the renter will get for their rent money. It's a good idea to emphasize any property amenities, features of the neighborhood, or short commutes to work that Millennials can associate with getting a lot for their money.

Appealing to Modern Renters Takes Interaction and Communicating Value

 

Modern renters may be cautious when it comes to making purchase decisions, but they are usually eager to take advantage of deals that can offer them a good value. They may not care about a perception of renting a luxury apartment or house, but they may be willing to spend more to get what they want. If a property can offer a gym, short drive to major business centers, or a nearby cultural center, it's important to let prospective renters know by communicating it in a way that they are likely to respond to. 

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Nat Kunes

Nat Kunes is the Vice President of Product Management for AppFolio. He works on a daily basis with property management professionals to identify industry trends and product features that are included in AppFolio's property management software.

 

www.appfolio.com/

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