Top Tips to Help You Market Your Property to Millennial Generation
If you have a rental property and are looking for tenants, the age of your prospective tenants might not matter to you. All you would want is to fill the opening and start generating income. You do not have to worry about how old the tenants are, but there is one thing that you need to keep in mind. The millennial generation is the one who is renting more rather than owning a home. The trend is looking to grow in the future as well. Since millennial generation is a large part of those seeking to rent properties, you need to know ways to reach out to them. Here are some great ways to reach out to millennials and attract more millennial applications –
Market your property online – The millennial generation is tech-savvy, and most of them go online to help them find a property to rent. They look at various property website to help them find properties that are available and the cost of it. You need to get your property on as many lists as you can so that renters can find you easily. Apart from listing your properties on leading property websites, you can also create a Facebook page so that prospective renters can reach out to you and you can answer any question that they might have. Millennials prefer to text or email, rather than talk on the phone. Also, try to make your property more high-tech by providing high-speed internet services.
Provide large spaces for get-togethers – Millennials love to have their friends over, and when they look for a house to rent, they look for ample space where they can chill with their friends. Another thing that they like is a large open kitchen where they can cook and entertain their guests. When listing your property, you should highlight the size of the kitchen and the living area to attract more inquiries.
Highlight the amenities provided in the property – Apart from the size of the property, the millennials look for buildings that offer several facilities. You need to highlight the building amenities and get your property to stand out. Amenities such as a rooftop deck, washer, patio, dryer, swimming pool, and others are great things that you would like your prospective renters to know about. If your building does not offer these amenities, instead of stressing yourself, you can highlight other benefits of renting from you such as its location.
Location of the property – The location of the property is the best way to draw millennials. Most people want to stay close to their offices so that they do not have to spend time on commuting to work daily. Thus, location is an essential factor for people when they look for properties to rent. If your property is near to public transport or near any major highways, ensure that you advertise it.
Offer excellent service and be flexible – Let the millennials prospects know that when they rent your property, they can feel like they are living in their own house. Tell them that all repairs will be done timely if something breaks and that they can get free weekly trash pickups. You can also allow the tenants to pay their rent online offering them more convenience. You can even let your tenants have pets to stand out from other landlords.
Talk about the outdoor activities – If your property is near to places that allow outdoor activities, you will more likely attract millennials by highlighting it. Since they are an active generation, they enjoy activities such as hiking, jogging or cycling. If there is a park or sports complex near your property, do not forget to mention it to the prospective tenants.
Talk about the fun places near your property – Apart from being an excellent place to live in, highlight the different fun things for millennials to do around the house. Most millennials look for places to socialize so list the fun spots near the property where millennials can hang out with friends.
All of these may seem like too much for you, but since a large part of your applicants might be millennials, it is essential that you market to them correctly. Since the trend is going to continue, you need to appeal to the millennials to ensure that there is no or little vacancy on your property. If you feel it is something that you cannot do yourself, you can also hire a property management company to help you reach out to the prospective tenants without any stress.
If you are a first-time investor, the idea of buying a brand new building will be daunting. This is when many landlords decide to buy-to-let...
It is not uncommon for many property owners to have a ‘no pets’ policy for their rental premises. The most significant reason behind it ...