Millennials are one of the highest renting demographics, but what are they looking for in a rental? Landlords and property management companies are trying to find the keywords that resonate with this age group when crafting their online ads for properties.
The average renter changes their rental property every six months to three years, shows ATTOM Data Solutions, a real estate data firm.
Here are a few successful characteristics landlords are touting in promoting rental properties:
Square footage
Millennials are craving large spaces for socializing with friends, ATTOM Data Solutions' research shows. This includes large kitchens and living rooms, as well as spacious outdoor areas. “As such, offering realty data on a property’s square footage, as well as details on any outdoor porches or balconies, is key for helping convert millennial house hunters who land on your rental website,” ATTOM Data Solutions notes.
Eco-friendliness
Millennials have shown an interest in eco-friendly properties, so promoting those features can be another hook. That could include everything from the property’s insolation to the earth-friendly materials used or whether it runs a low-energy heating system. Leverage property data to showcase the green benefits of renting different properties and the potential savings to the renter, researchers note.
Local hot spots
Researchers also suggest creating a map along with the online listing that highlights the nearby local hot spots to up the property’s appeal. Promote proximity to popular coffee houses, sports venues, bars, transportation, and nearby parks, dog parks, and trails.
Source: “Property Rental Sites Targeting Millennials,” ATTOM Data Solutions (Dec. 30, 2019)
