The Millennials are a substantial demographic of renters.  With the current economic conditions, homeownership among millennials is extremely low and is continuing to decline.  Therefore, they are a great target demographic for property managers.  There are several ways to attract millennials if you understand their generational needs.  

Tailor Your Marketing To Reach Millennials

Millennials are extremely media-savvy and the best way to market to them is through a strong online marketing campaign.  First you need a great website, that is visually appealing and easy to use.  It’s also good to incorporate features like online payments, online applications, and social media tools.  Your online presence must also include a strong social media campaign.  

Location Location Location

This old adage applies to millennials as well as older generations.  However, millennials have different needs from their location.  Millennials tend to be single and childless, so they are more interested in being close to work.  Incorporate the proximity to local business as well as information about area commuting.  Millennials also want to be close to entertainment districts so make sure you include information about local bars, restaurants, concert venues, and movie theaters.

Environmentally Friendly Improvement

Millennials have strong values about sustainability.  They want their living spaces to be environmentally-friendly.  If you want to attract millennials it is a good idea to implement environmentally friendly amenities like energy star rated appliances and low flow toilets.  You can also include things like bike racks, community gardens, and a recycling program into your space.

Millennial Specific Amenities

Millennials have very specific needs.  There are a lot of amenities you can offer that will attract millennials.  The most obvious is wi-fi and cellular reception.  MIllennials love technology and require high speed data access.  Also since millennials are less likely to have families, friendly community spaces are an attractive feature.  Game rooms, yoga studios, and BBQ pits are some examples of millennial-friendly community spaces.  Also, pet-friendly rental spaces along with dog parks can attract single millennials.

Millennials are not a hard market to understand.  In fact some of the amenities you offer may already be very attractive to millennials, you just need to learn how to market to them.  A good marketing strategy is crucial to securing millennial renters and Occupancy Solutions can help.  Our expert marketing team has dozens of great ways you can attract and keep this crucial demographic.  Contact us today and we can help you build a tailored marketing campaign that is right for you!