Drawing Millennials to Your Rental
Millennials are becoming a major component of the resident single-family rental housing base. Knowing what draws millennials to a property and making the best of this group is critical for owners.
Price, comfort, and culture are draws for millennials. These individuals grew up with new technology, investing a lot of time online. Compared to older generations, websites and mobile applications are often used by millennials to perform several everyday activities. This, in truth, is now an expectation. A millennial resident expects to be able to do many things online when renting, such as paying the rent and arranging maintenance. They are used to being able to contact people through channels like email and text messaging. As a property owner, if you sell them these conveniences, you may find it easier to attract this demographic.
The “digital friendliness” of your property is another significant factor. Millennials are drawn to robust Wi-Fi and internet service. By delivering digital-ready rental houses, you can cater specifically to a millennial's demand for both consistency and comfort.
Improving the energy efficiency of your rental homes and building opportunities for your tenants to hold events are a few more unique items you can do to lure millennial tenants. Most millennials are worried about the climate and healthy living. Solar panels, affordable public transit, urban gardens, and more are amenities and features millennials may be drawn to.
This update is by Livo, a rental optimization platform aimed at providing you with a robust revenue enhancement tool. With Livo, you can maximize rental yields, accept and manage multiple offers and offers, and enjoy better retention. Livo targets rentals with the greatest odds of receiving a multitude of offers, and those with the best locations, features, configurations, and more. Please call 833.333.5486 today to learn more.