Welcoming Generations X, Y and Z to the Apartment Industry

The housing sector is focused on how to attract millennials as residents. Generation X is made up of those born between 1965 and 1980. Generation Z is made up of those born between the mid-1990s and 2010 and generation Z is made up of those who were born at the beginning of the 2000s as the end of the year of birth. All these generations make up a huge percentage of the workforce today. While millennials have slightly different values ​​and preferences than other tenants, with some tweaks you can change the way you approach them when renting your apartments to them.

What millennials want from apartment buildings:

Many millennials now are becoming long-term tenants who are not ready or not even thinking about buying a home anytime soon but they want flexibility in their living conditions in case they need to move to a new job. For that reason, they prefer apartments located near bars, cafes, nightclubs, restaurants, parks, gyms, and other places.

Some of the millennials deeply care about the environment, where they insist on at least minimal recycling and they love to find new ways to save, reduce, and reuse.

Also, as much as these tenants love being online and social media and where having fast internet is one of the key items for their happiness. They use it from ordering food to finding an apartment, so make sure to have an online presence so these people can contact you online. Don't forget that they also love to spend time in person and they really value the sense of community. 

Millennials also tend to be a little phone shy, so instead of calling you on the phone or meeting you in person, they'll probably prefer to send you a quick text message or email.

How to make your residential community more attractive to millennials:

Now that you know a little more about what millennials favor, you can position your units as modern, efficient, and community-oriented to appeal to those tenants.

Ways to make your apartment unit more modern:

1. Create an attractive website to showcase your open units.

2. Allow tenants to make service requests online.

3. Create social media accounts to build an online community.

4. Allow tenants to apply online and pay rent electronically.

5. Whenever possible, use email and text messages to communicate with millennials.

Ways to improve the efficiency of your apartment community:

1. Insulate your property to reduce utility bills.

2. Use LED lamps in public places.

3. Offer composting services.

4. Install low-flow toilets and showerheads in bathrooms.

5. Use programmable thermostats in common areas.

6. Use wind, solar panels, or other renewable energy sources.

Ways to build community in your apartment:

1. Host parties, movie nights, or social hours, and then post photos on your social media.

2. Promote your neighborhood, from bars and restaurants to farmers' markets and parks.

3. Chat with tenants on your social networks.

The good news is that all of these millennial-focused strategies you use will make your apartment better for everyone else in your community.