Tips for Attracting the Next Generation of Renters: Gen Z…
As millennials have started the shift from being renters to homeowners, Gen Z-ers (or Zoomers) are now becoming renters. While comparable to Millennials, those who are a part of Gen-Z have their own tastes and values. This group is the first generation that has been raised completely having access to the internet and constantly-changing technology. For Gen Z-ers, technology is a way of life and they are heavily reliant on having it to make it through their day-to-day lives. Being able to understand how you can benefit from this will be key in attracting Zoomers as tenants.
Using the Internet to Attract Gen Z Applicants
Unlike previous generations, Gen Z prefers up-to-date technology, access to energy-efficient amenities, prices that are affordable, and personalized experiences. If you want to attract a new tenant fast, set your focus on each of these aspects. Simply having a website that is outdated or looks unprofessional can turn them away in an instant. A solid online presence is key to gaining the attention of potential Gen Z tenants. You should keep your content concise, shareable, and adapted to mobile phone applications to gain the attention of Zoomers.
Zoomers are spending more time online than any generation before them and most of the time they are using their cell phones to do so. This makes it increasingly important that your listings and websites have been adapted for mobile devices. This format makes it easier to navigate and access. Consider investing in having a strong social media presence to appeal to even more Gen Z-ers.
Over half of Gen Z-ers have purchased items that they discovered on social media making it a great place to advertise. Trying to create relatable content can seem challenging but it is actually quite simple. Consider including video tours of properties and surrounding locations– like fun things to do or where to eat in the area. You may be able to talk other residents into doing an interview. Take pictures of community events and share them. Having relatable content is a great way to appeal to Zoomers. Many people advise against double posting in one day but add to your story multiple times a day to keep your prospective tenants interested.
Of course you need to have rental listings easily available to pull in new tenants, but making the application process simple and easy is just as important. Online applications are essential when it comes to gaining Gen Z tenants.
Technology Attracts (and Retains) Gen Z Renters
For Zoomers, efficiency and being able to digitally communicate are important. The ability to report and issue and have it resolved immediately is high on their priority list. And how fast your response to such requests will impact the amount of Gen Z tenants that hang around long term. By implementing a tenant portal through your property management software or adding it to your existing website, you can be sure that your Zoomer tenants are able to report issues and ask questions with ease. Consider adding a chatbox on your website or a FAQs documentation on the tenant portal– both of which can help your tenants get answers to their questions any time of day throughout the week.
Your units should include advanced technological amenities if you are hoping to gain Gen Z tenants. These updates could be as simple as adding USB ports to your power outlets, switching your locks to keyless entry, smart thermostats, and more. Each of these small, cost efficient technological updates will appeal to Gen Z-ers that have a clear understanding of how important technology is in everyday life. Not to mention, technologies like keyless entries are convenient for you– during routine maintenance or even for maintenance requests, no one will have to call you for keys to get in.
Zoomers are all about creating greener communities. Adding green or energy-efficient amenities will help you attract gen-z tenants. Because you once had millennial tenants with the same commitment to an eco-friendly world, you may already have some of these amenities. Implementing a few more could help you gain more gen-z tenants that you otherwise would have.
Things you might include are water-saving showerheads, energy-efficient appliances and windows will all be seen as a perk when it comes to renting your unit. Include a recycle bin in an effort to show you care about the same things they do. Not only will this be a selling point but it will also provide landlords and property owners with savings and appeal to your eco-friendly renters.
Affordability is Important
Sure, all of these amenities are important to Zoomers, but if it keeps your rental from being affordable, you may as well forget gaining gen z-ers. Affordability is by far the most important thing for the majority of tenants in this generation. Why? For one, college debt has increased dramatically with each generation forcing them to live a more frugal life. Little upgrades are going to appeal to Gen Z tenants, but instead of focusing on these amenities, highlight affordability.
Make it Personal
As a landlord, you should never underestimate the importance of a personalized tenant experience. Zoomers feel more connected to things that give them the opportunity to create their own experiences and products. Go the extra mile by connecting with Gen Z residents. This will show them that you actually care about their time as your tenants– which is something you cannot put a price tag on.
Be true to your authentic self if you want to have Gen Z-ers occupying your rentals. We know that mass-advertising is pretty much everywhere, but you should hope to seem more genuine and authentic in your efforts to bring in new tenants.Gen Z-ers will be more interested in your listings and will likely stay with you if you take a little time to focus on them. Consider hosting community events, sending out community newsletters, personalizing tenant reminders, and maybe even throwing in a welcome home gift when they sign a lease. You don’t have to spend a fortune but little things make a big difference when it comes to keeping your tenants around.
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