Attracting Gen Z renters is important for investment property owners. These key tips will help better understand how to attract this largely-renting generation to your properties.
As the largest segment of the population in search of rental homes, Generation Z should not be overlooked when marketing your property. Encompassing those born between 1997 and 2015, Gen Z renters have unique amenities in mind for their living spaces. The generation is acknowledged as the most culturally diverse and tech-savvy; with 68 million potential renters, it’s a good idea to know what amenities and services will make your rental property stand out. So what are Gen Zers looking for?
Generation Z is populated by true “digital natives.” Having grown up alongside computers, smartphones, and more innovations, technology plays a vital role in their everyday lives—and they expect the same from their rental. To cater to such a tech-focused generation, invest in property features such as smart thermostats and lock systems. Effective digital platforms, including payment options for rent, are essential. But above all other features, Gen Z renters consider one tech amenity to be non-negotiable: reliable, high-speed Wi-Fi.
Although virtual tours are still valuable tools when promoting your property, attracting Gen Z renters involves meeting their need for in-person tours. Whether with an agent or self-guided, viewing a listing is important to young renters before signing a lease. Gen Z is an experience-focused population; in-person tours can be a great opportunity to highlight the amenities that make your listing unique. By framing your listing through the perspective of potential experiences, renters will more easily picture themselves at home.
How does this well-connected, community-focused generation research for rental properties? The majority will turn to the internet to see what others are saying. Gen Z relies on property ratings and reviews more than any other age demographic of renters. Placing great importance on authenticity, Gen Z renters seek honest, positive reviews from past tenants. Managing your online reputation through social media will be vital to attracting young renters. Respond promptly to negative reviews and promote positive ones—potential renters will want to know how you would respond to their concerns. Quality properties and a solid media presence will go far.
Environmental causes are important to many in Generation Z. If you are considering investing in green amenities, know that upcoming renters will be looking for a home with sustainability in mind. Eco-friendly appliances, LED lighting, and energy-efficient window panes are upgrades that elevate your property in the eyes of Gen Z renters. But it’s not just green technology that can draw in young renters; recycling and composting are also welcome features. Promote eco-friendly amenities, whether it’s providing access to a community garden or bike storage, to make the most of your listing.
Are you considering renting your property? Please contact us today to discuss how Choice Properties can help you attract renters of any generation.