How Property Managers Can Appeal to Millennial Renters
It’s pretty common to hear people blaming the millennial generation for “killing off” various industries. Throughout every decade, there’s always been a younger generation that has encountered some sort of criticism. After all, younger generations (regardless of decade) grown up surrounded by newer forms of technology that make their lives easier. These shortcuts are often viewed by older generations as “lazy,” and therefore, they’re viewed as “entitled.” Regardless of how people feel, it’s only natural for Millennials to expect newer forms of technology (smartphones, laptops, tablets, etc.) to improve every aspect of their lives — whether they’re driving, working, or shopping.
When it comes to apartment hunting, Millennials want the same quick, ease of access they’ve come to expect. They want to find the right information from rental properties quickly and easily. Considering the majority of your prospective renters will likely be Millennials, your rental property website should cater to them. Here’s how:
It shouldn’t come as a surprise that millennials will likely start looking for apartments online. Jordan Corrigan, a 34-year-old recent apartment hunter in Rochester, Minnesota, confirmed that the web is the number one place to find rental listings, as well as anything else he may need to purchase.
Cluttered and confusing layouts will look untrustworthy or give off an out-of-date vibe. Make sure that your site has an easy-to-understand display with menus and navigation that makes sense.
“Cluttered and confusing layouts will look untrustworthy or give off an out-of-date vibe.”
A poorly laid out website might have some younger residents running for the hills.ls.In the past, Corrigan has had difficult with different websites, especially when jumping from platform to platform, being left uncertain of where to click to find the next bit of info.
“Some (websites) list the information in one place, others might only show a little bit of info.” Corrigan says. It’s hard to find a resource that has all your housing options in one place. You have to look all over to find the information you need.”
If a millennial is used to being able to find the closest Thai restaurant or best nearby in a few seconds, they’re going to get fed up if they’re unable to locate basic apartment information like price or floorplans. Corrigan was recently seeking out apartments online and had a frustrating experience for this very reason.
“I’d like to be able to see the inside of it easily without having to physically go there,” he said. “I want to know the layout and the condition of the property before I decide to head in for a tour. I also want to easily find the basic information: floor plan, square footage, amenities, and price. I shouldn’t have to search around for that.”
Aside from basic efficiency, one reason millennials may desire easy-to-find information may come from an inherent distrust of brands. A study performed by the McCarthy Group says that 84 percent of millennials do not have faith in traditional advertising. They see businesses as misleading and untruthful, so any difficulty they have in locating basic apartment details may come off as a ploy to deceive them.
This is the generation of swipe. No longer are customers tethered to their PC or laptop, as they have unlimited computing power sitting, in their hand. There’s a good chance an apartment hunter may have foundd out about your property while lounging on the couch or waiting in line at the grocery store. In fact, 63% shop directly from their smartphones daily, and many are using them to comparison shop.
Sites that are not mobile friendly often have links or buttons that seem to be “broken.” This is due both to compatibility issues, in which certain browsers don’t read your site correctly, as well as your site’s design simply not properly displaying your page on a smaller screen. Luckily, there are plenty of free tools to confirm that your site will fully load, such as with this handy Google app.
Recent studies show that millennials are most sensitive to price points than any other influencing factor. With the bottom line being at the forefront of so many young adults’ minds, anything that tells them they can save big bucks by choosing your apartment is going to be good news.
Implementing interactive tools like PERQ that allow them to unlock special offers and savings will give you an advantage over your competitors. Additionally, any features like the ability to pay rent online or submit paperwork will help to save them big bucks and hopefully get them interested in a potential tour.
“Special offers and savings will give you an advantage over your competitors.”
Positioning your site to be appealing to the millennial crowd may sound like a fair amount of work, but in reality, it’s just a task of making your materials sleek, helpful, and easy-to-find. By focusing on your layout and design, being upfront and transparent, and giving your younger users a chance to save, you’ll be sure to be sure to get more Millennial renters through the doors of your multifamily property.