You certainly have to aim younger tenants if you have a rental property and you are a landlord. People who are born around the early 1980s and mid-1990s, also known as millennials, are the main candidates for the rental market. Of course, there are a lot of reasons for this.
For those who don’t know, the Millennial generation makes up around 25% of the population in the United States. There are around 80 million of them. Because of this, you will want to guarantee that your properties are appealing to the Millennial age group.
Aside from asking hiring property management near San Mateo, here are several ways to market your rental property to Millennials:
Have Public Areas to Gather
Millennials want to meet people and go out. That’s why you should make a spot to gather on your property if possible. Do you have a spot where it can be made into a seating area for holiday and summer parties or a barbeque pit?
Market the Neighborhood
Keep in mind that Millennials are young. They are attracted to checking out local craft beer, hot new restaurants, block parties, and music festivals. You will have a more appealing rental property if your neighborhood appeals to the younger generation.
You should create a list of the happenings and events in your neighborhood that will be appealing for individuals in their 30s and 20s. You should emphasize stores and local eateries. With Millennials, artisanal crafts are huge. Thus, you should highlight any local purveyors. Also, health food stores, parks, vegan restaurants, and farmer’s markets will be extremely enticing. You’ve got to ensure you understand what your neighborhood provides.
Of course, homeowner’s associations, landlords, and property owners don’t like pets. There’s a reason for that. animals have claws, teeth, and fur. They also have accidents. All of these aspects can be unkind to your property. They sometimes need maintenance and cleaning beyond what humans need.
However, the truth is that Millennials are pet lovers. This generation represents around 35% of the pet ownership market. You are getting rid of a huge part of this market if you do not allow pets.
Whenever you are making furnishing options, construction, and development, you should plan to allow pets in your rental property. For instance, composite or hardwood floors will withstand pet accidents better compared to carpet.
Make Your Property Environmentally-Friendly
The Millennial age group is extremely eco-friendly. They want to live an eco-friendly life. They are worried about the overuse of natural resources, climate change, and pollution. Because of this, they really prefer energy-efficient rental properties.
For instance, you can utilize non-pollutants such as paint without VOC. You also have to market it. You also have to advertise it as well if you are near a community garden or a farmer’s market. It will be extremely popular for them if you have solar panels for appliance use or heating. Make sure you market your property if you are close to public transportation since they consider it a low carbon footprint mode of transportation.