Since Millennials are now transitioning from rental units to buying their own homes, the next target market for rental property owners is none other than Gen Z.
Even though there are quite similar to Millennials, Gen Z (a.k.a. Zoomers) are known for their own unique values and tastes. Since they are the first generation to have access to rapidly changing technologies and the internet, these individuals heavily rely on technology in their day-to-day lives.
If you can understand how to turn fact into an opportunity for your rental business, you will have learned how to gain Gen-Z renters as your tenants.
Attract Gen-Z Renters Online
Gen-Z, in particular, thrives on the latest technologies as well as personalized experiences, affordability, and energy efficiency. For this reason, you will have to update your rental units to tick off all of these features.
For instance, if they find that your website is unprofessional or outdated, then they may just switch over to your more up-to-date competitors. Having a good online presence is crucial to grab the attention of Zoomers. Try to make the content on your website as mobile-friendly, shareable, and concise as possible.
Use Technologies to Attract Gen-Z Renters
In the typical everyday life of a Gen-Z renter, prompt and efficient digital communication is of vital importance.
For instance, the faster these tenants will be able to report issues and have them resolved, the happier they will be. Also, rapid responses will also ensure that these tenants stay satisfied with your service.
We highly recommend that property owners and property managers switch to using a tenant portal via property management software or perhaps add this to their website. This portal should have clearly defined features to ask questions or report issues.
You should also consider having a chatbot for your website or an easily accessible FAQ section so tenants can have their questions answered as quickly as a simple Google search.
Besides this, Gen-Z renters also appreciate cutting edge technologies in their amenities. Updating your rental unit to cater to this could be as simple as adding USB ports or power outlets. Other great features may include smart outlets, smart thermostats, keyless entry, etc.
Consider Green Amenities
Energy-efficient or green amenities in rental units are bound to attract Gen-Z renters. Quite like the Millennial generation, these renters are also known to be heavily interested in sustainability. Therefore, having eco-friendly units will help to push your property to the very top of their wishlist.
While you may already have some eco-friendly options for Millennial renters, you add just a few more to boost the impact you have on your marketing efforts to potential Gen-Z tenants. Some great ideas for sustainable amenities include energy-efficient windows, sustainable appliances, water-saving bathroom/kitchen amenities and much more.
Also, you should try to make sure that you have sufficient recycling options on the property. Besides, these options have a great selling point: they offer property owners and property managers some great savings to turn the heads of eco-friendly Gen-Z renters.
Well, there you have it folks. If you’re looking forward to trying out any of these strategies in your rental property, you can always delegate these tasks to your property manager or hire the right professionals for the task at hand. The only thing you will be responsible for is offering your potential tenants more affordability, personalization and authenticity as opposed to mass advertising.
If you haven’t hired a property manager already, click here to learn more about our services and discover how an experienced property manager can share some of your burdens.