- Provide high-speed internet and communal areas for tenants to stay connected with friends and family.
- Install modern bathroom fixtures such as frameless shower doors and pet-friendly features such as secure fencing and doggy doors for easy access.
- Include energy-efficient appliances and LED lighting to help tenants save money on utilities.
- Invest in smart home technology such as automated thermostats, voice-activated lighting, and other automated systems.
- Design the property with easy access to public transportation and nearby restaurants, bars, shops, and entertainment options within walking distance.
Millennials are the largest demographic in the U.S., and they’re reshaping the rental market. As a landlord, understanding this generation’s needs and preferences can help you design a rental property that will be attractive to them. Here are some of the features millennials are looking for when it comes to renting an apartment or house.
Millennials value being connected, both online and off. When designing your rental property, think about ways you can make it easier for tenants to stay connected with their friends and family.
For instance, include high-speed internet in the rent so that tenants don’t have to pay extra for it. You can also provide open communal areas where tenants can socialize and get to know each other.
You may also consider offering discounts on services such as streaming music or video subscriptions. This will help your tenants stay connected without having to pay for a pricey monthly plan.
Amenities & Convenience
Millennials appreciate convenience, so design your property with amenities that would appeal to millennials who want cutting-edge technology but may not have the budget or know-how to purchase them outright themselves. Here are some ideas:
Modern Bathroom Features
Modern bathrooms are a great way to appeal to millennials when designing your rental property. Consider custom frameless shower doors that create a more modern look and more spacious feel. Installing heated towel racks, rain showerheads, and smart toilets that self-clean are also great amenities to include in your bathroom design.
Millennials are more likely than other generations to live with pets, so it’s crucial to include pet-friendly features in your rental property. Make sure you provide plenty of outdoor space and a secure fence for dogs to run around.
You may also want to consider installing doggy doors for easy access. If you don’t want to install them yourself, you can offer a pet-sitting service or a dog-walking service through an app.
Millennials care about the environment and are looking for ways to reduce their impact on it. When designing your rental property, consider incorporating sustainable features such as energy-efficient appliances and LED lighting that will save your tenants money in the long run.
You may also want to look into water-saving fixtures such as low-flow toilets and showers, which will help conserve water and lower utility bills for your tenants.
Smart Home Technology
Millennials are tech-savvy and love the convenience that comes with a “smart home.” Incorporate features such as automated thermostats, smart locks, and voice-activated lighting into your rental property design to make it more attractive to this generation of renters.
In addition, you may want to look into offering services such as an Amazon Alexa or Google Home system to your tenants. This will not only add convenience, but it can also help save energy costs and make life easier for your tenants.
Location & Transportation
Location is vital when it comes to attracting millennial renters — they want easy access to public transportation as well as nearby restaurants, bars, shops, and entertainment options within walking distance of their homes.
Consider investing in bike racks or providing free bike rentals so tenants can easily explore their neighborhoods on two wheels instead of four. This will not only make life easier for your tenants, but it will also help keep the environment cleaner.
If your property doesn’t have easy access to public transportation, think about providing shuttles or discounted ride shares so that tenants can get around without having to rely on their own cars (which many millennials don’t have). You can also look into offering car-sharing services to tenants who require a vehicle occasionally.
Creating a rental property that appeals to millennials doesn’t have to be daunting. By taking the time to consider their needs and preferences, you can design an attractive, modern space that this generation will love. From providing high-speed internet and stylish bathroom features to incorporating innovative home technology and sustainable fixtures, there are plenty of ways you can design a rental property that millennials will be attracted to. With the right amenities and features, you’ll have no trouble finding tenants who appreciate all that your rental property has to offer.