Millennials on the Move

Speaking as a millennial myself, I can tell you that that we are somewhat of a complicated bunch. With our affinity for everything tech and our innate need to have information at our fingertips we can often be tricky to understand, especially when it comes to apartment hunting.

So, if we’re so difficult, why should you be attempting to understand the way we work? Well as a generation boasting about 80 million people, we are going to be very important to you as a property manager in the very near future. In order to attract our attention to your property and actually get us to look in depth at it (we are a bit ADD), there are some very specific things that we are asking from you.

Please be flexible

Maybe it has to do with the fact that we’re growing up with ability to customize everything from our Iphones to our water, I’m not sure, but generation Y wants the ability to tailor everything to our needs.  While much of generation Y is okay with smaller, more affordable spaces, a big factor is that we are able to make our space our own. For example many of us millennials are attracted to spaces that have things such as flexible walls and moveable parts (such as a movable kitchen island). Another place we like flexibility is in our common areas (ever heard of elastic environments?).  Places on a property where we are able to do work and relax one part of the day, and then meet with our fellow residents and hang out another part of the day are a big attractor.

shutterstock_76380952-resized-600We want more

When we millennials look for places to live, we see amenities as very important. A popular aspect for this generation is a fitness center. But when we say “fitness center” we don’t mean “5 treadmills in a room with 5 and 10 pound weights”, we mean fitness center as in “fits in with our ideal holistic and relaxing lifestyle allowing to do any kind of workout we choose”(did I mention we were a bit complicated?) . Another amenity that is important and that property managers should take a lot of time thinking about is outdoor spaces.  Think fire pits, a place to grille and socialize with friends, and a lawn sans mowing. And of course we also want customization in our amenities which is why “niche facilities” are also a big hit. This is definitely a place where property managers can customize their lease offerings according to their target audience.  Have tenants that enjoy gardening? Create a community garden. What about an apartment full of dogs? Have a dog area.  In this respect the options are endless so get creative!

You mean we have to drive to the restaurant?!

The most important trend among us millennials, and I can certainly vouch for this, is that we want to live in a place of convenience.  Living in a walkable community where our restaurants, shopping and entertainment are surrounding us is very important when it comes to where we live.  While most millennials prefer to have this in an urban area or a big city, this isn’t probable as it is often too expensive to live in such places. So what do we do? We look for areas that resemble these places, “pseudo urban amenities” if you will.  As a property manager you have the ability, and now the opportunity to provide this for us. Creating a community around your apartments by doing things such as putting restaurants in your complex or even small shopping centers is now more important than ever.

I’ve given you some good facts about the millennials and what we want you to do as a property manager so now all you have to do is start implementing them! Don’t know where to start? Well, as a millennial the first thing I always do when apartment hunting is look online, so make sure that you have your property listed there so we can find it.  And remember we want to do business with you on our terms (we’re a demanding bunch), not yours. Looking to property management software such as VaultWare Apartment Marketing is a great solution that can extend your office hours, let us reserve the perfect pad, and maintain consistency among your ads. The software helps you give us what we want while giving you complete control over when, where, and how your available apartments are marketed online, so check it out today!

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