Are you looking to target a specific generation with your rental listing? We don’t want to generalize, but there are some key points that different generations tend to look for. In this blog, we make several recommendations based on your target audience.
Baby Boomers
Many baby boomers are looking to rent so they can downsize. However, that’s not always true, some are just looking for more convenience. They’re getting older and looking for living quarters that allow them to give up some of the household and landscaping chores. Some of these chores can be more difficult at a more advanced age. Plus, many baby boomers want to enjoy their retirement.
The things that could appeal to this group are more amenities. They’ll be looking for a place that takes care of the landscaping. They may also appreciate concierge services. In addition, this group will often be looking for a community that has activities and a pool or fitness center. Baby boomers also tend to look for rentals that are more affordable. They’ll be living off their retirement savings and need to budget their finances.
One more thing to keep in mind when marketing to this group is the layout and design of the space. Many baby boomers want a place that is aging-in-place friendly, offering a universal design.
Generation X
Depending on the age of the person in this generation, they may be looking for different things. Younger Gen Xers may want a place with three to four bedrooms and a nice backyard. Older Gen Xers may want something a little smaller that doesn’t require lots of yard work. These differences can make it a little trickier to market to this generation.
Those who are nearing the older end of this group are probably looking for a one-floor plan. They may want a place that they can live in through retirement, somewhere they can continue to age safely and not have to do as many household chores. Younger Gen Xers, on the other hand, want a place that allows them an easy, hassle-free commute.
Overall, Gen Xers want a rental that offers function and practicality. They aren’t going to be as quickly wowed by something that’s showy or extravagant.
Millennials and Gen Z
Both of these generations are typically looking for the same things in a rental unit. They tend to like more advances in their living spaces. They appreciate smart home technology. They also like when a residence is more environmentally friendly. In addition, they tend to appreciate more open floor plans.
Many people in these generations like the opportunity to be involved in the community, so having some common areas where they can socialize can be attractive. Consider offering a fitness center, a lounge, a shared outdoor area or a coworking space.
Millennials and Gen Zers like the ability to communicate quickly. They don’t want to have to pick up a phone or mail a letter. Most prefer to text or send a social media message. Offering payments online can be a great option to entice this group.
As you can see, there are unique things that different generations are looking for in a rental unit. Knowing these things can help you market to the age group you’re hoping to attract. If you’re looking for someone in an older generation, you may want to consider universal design, practicality and affordability. If you’re looking to attract the younger generation you may want to focus more on modern technology and being green. There are plenty of ways to incorporate some of these strategies. Just make sure to put all of your amenities in the listing.
If you’re looking for additional ways to attract tenants and retain them, please reach out to us at PMI. We can help you find the tenants you’re looking for and keep them satisfied. We make it easy for tenants to reach out to the property manager for any issues. And we’ll handle maintenance issues promptly. We also make it simple to pay rent. At PMI, we go above and beyond to keep your investment running smoothly. Learn more by visiting our website: . We hope to hear from you soon.
