July 14th, 2017
How to Keep Millennial Renters Happy
It can be difficult to win AND keep millennial renters happy, who are notoriously fickle and noncommittal about their living arrangements. In order to have millennials stay committed to living at your complex, you must keep them INVESTED. It helps to know that the biggest question young individuals will ask themselves when trying to find a place to live is “how can this help ME, on multiple levels?” Therefore, it may be wise to do the following:
1. A flexible, transparent contract is enticing to most millennials. Having them commit to a yearly contract is a sure-fire way to scare them off.
2. Understand what is important to them. Young adults with money value intellectualism and expression. Consider hosting an art exhibit monthly that current residents can participate in.
3. Create opportunities for your housing complex to be beneficial on several levels. Nothing is really single-function among youth anymore. Have a bulletin board where residents can post things to communicate with one another and consider hosting beneficial workshops or classes in your apartment space (or promote the ability to do so among your residents).
By knowing what keeps Millennial renters happy, it is a lot easier to deliver on their specific needs. The more you research the demographic you’re trying to attract, the more you can understand them and use your insights to create effective marketing strategies!