As September approaches, several apartment communities will be welcoming a new cohort of millennial apartment renters, especially those properties located in or around college campuses. The millennial generation (also known as Generation Y) is greatly impacting the apartment leasing industry. They are one of the largest renter groups today, and, thanks in part to the recession, are renting longer, marrying later and researching more. Millennials’ apartment search methods vary greatly from some of the more traditional tactics used by Baby Boomers and, in turn, should be marketed to accordingly. For those property owners interested in attracting this unique customer segment to your properties, it is important to incorporate these three things into your overall marketing strategy:
Adopt an online mentality
While most of the millennial’s purchases take place online, it becomes extremely important to catch this group where they reside most. Millennials are not only drawn towards those businesses with a strong, online presence, but they also expect to have several online tools right in front of them, avoiding the need for in-person interactions. For property managers, this means online applications, rent payments and maintenance requests, instant chat features and more. With that being said, a basic website may not be enough to attract this growing market. Millennials want the flexibility to interact with you right at their fingertips—be it on their phone, tablet or laptop—which is why, in addition to online tools, mobile optimization is a must for any apartment website.
Show them how your community is the place to be
Millennial renters want to be in the center of it all. Considering most millennials do not have children, they are not focused on residing in a specific area based on the neighboring schools. Instead, they want to live in a location where they can live, work and play without having to travel. Proximity to culture is especially important. They love being able to grab a coffee before work, dine out for lunch and partake in the occasional happy hour right after—all without having to escape the confines of their neighborhood. Property owners that are surrounded by such amenities should make it a point to incorporate these community features within their listings and on their website.
Give ‘em what they want
Millennials also crave an amenity-rich lifestyle. The more conveniences you can offer them, the better. In addition to being able to live, work and play in one area, they want a well-connected abode. Properties offering high speed internet will see the most traffic from millennials. It is also important to remember that there is no such thing as a small amenity. If your property has a pool—promote it! Free satellite cable—tell them! Resident socials, fitness centers, iPod docking stations—let them know! Trust me, they care!
Rentbot can help
In the age of millennial renting, Rentbot can help you cater your property to this growing demographic. By giving millennials the power to submit their applications, maintenance requests and payments online, you’ll be one step closer to signing your next tenant. And considering your property website is guaranteed to be mobile-friendly, your prospective renters will be able to engage with you on their terms. By incorporating high quality visuals and real-time pricing and unit availability through a user-friendly interface, Rentbot is guaranteed to help you seal the deal. Let Rentbot help you transform your apartment website today so that you can attract this growing population to your apartment community.
About the Author
Jonsette Calloway joined the Rentbot team in 2015. With a background in public relations, advertising and copywriting, she has helped a multitude of clients achieve their marketing and communications goals within various fields, but she particularly enjoys working with the apartment industry.