How Will You Attract Millennial Renters in 2014?
by Alexis Hammond on February 12, 2014 in Property Management Software
In December we held a contest that asked you how you would be appealing to Millennial renters in 2014. Since announcing the winners in December, we’ve had a chance to go through all of your responses, and we definitely noticed a trend. An overwhelming number of you made it clear what you thought would attract Millennial renters: “Get social, be mobile, provide more online services and targeted amenities!”
It’s no surprise that Gen-Y renters are tech-savvy individuals who are active on social media and love their mobile devices. Many of you recognized the importance of increasing your social media presence and providing services to renters online. Here were some of our favorite responses:
“To start with, we have recently begun a campaign for boosting our social media presence, with an emphasis on education rather than sales. Helping the new generation understand what questions they should ask, and what to expect, paints us as the experts in our area. Who would you rather work with? Someone who’s forcing a property into your Twitter feed or someone who wants to help you find the property that’s best suited for your needs?”-David L, FL
“Recognizing that Millennials tend to utilize smartphones for all tasks (be it research, communication, or photos) we have started the process to optimize our websites to be more mobile friendly. Making it easier to view photos, fill out an application, or schedule an appointment right from their phone.”-David L., FL
More Online Services
“Everything from looking for a place to rent, to applying, to signing the lease, to submitting maintenance requests—are ALL online!”-Palisades Property Management, OR
“I know millennial renters want to utilize the web and so do I. We want almost all resident and owner communication to be done through our software, whether it be work orders, rental payments, lease renewals, owner deposits, vendor payments, etc.”-Lisa T., OH
“Continue to use technology to grow and reach them. We now have online applications and ability to pay almost all fees online. We use all forms of electronic media to communicate, and we are continually updating our website with the freshest images and up to date availability.”-Anna G., TX
“Work-life balance is important to the newest generation of professionals, who want to maintain a healthy balance between their working and professional lives. Amenities are a huge appeal factor for renters. Larger, open common rooms are popular. Many developers have added fitness centers and outdoor areas, including yoga and Pilates studios to appeal to renters. Outdoor spaces such as patios, decks and pools are a lure for renters who want to host friends and family. Other amenities include dog runs, garden plots and bike storage.”-Frank F., NY
“We are building new apartments with smaller floor plans, high ceilings so they feel bigger and have lots of light, and with lots of storage built in. We are adding bike storage locks directly on to the walls and ceilings —so they can hang their bike in the apartment. We are also including common area outdoor BBQs for socializing.”-Keegan M., CA
… And if all else fails, some of you weren’t afraid to think outside the box:
“To appeal to Millennial renters I’m going to hand out candy.”-Dan B., CT
“I will wear a banana costume and wave a sign in downtown Minneapolis … ”-Blake L., MN
We really enjoyed reading through all of your insightful, and sometimes humorous, responses. Thanks to all who participated in our contest!
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AppFolio, Inc. develops Property Management Software that helps businesses improve their workflow so they save time and make more money. Appfolio submits articles & blogs including topics of Resident Retention, Improved Owner Communication, Time Management, and more.