There’s no denying that student loan debt and stagnant wages have had an impact on the rental market. With renters under the age of 30 consisting of more than 50% of the renter market, many apartments want to cash-in on this renter market. But with tried and true methods for attracting baby boomers and Gen X renters failing to connect with the younger generation, many communities need millennial marketing strategies. While they are many opportunities for success, here are our favorite 11 tips for marketing apartments to millennials.
11 Ways to Market Your Apartment to Millennials
Meet Them Online
Millennials are a tech-savvy generation that prefers an online experience. Increase your chances of being found by getting on as many ILS sites as possible, and making sure your SEO game is on point. Millennials will do extensive research on potential properties by looking at reviews, social media, and websites. Make sure all of your information is up-to-date and accurate.
Build a Community
Feeling like their part of a community is important to millennial renters, and creating a sense of community doesn’t have to be a budget killer. Host parties and theme nights in your clubhouse or community spaces. Happy-hours and movie nights are great ways to get your renters mingling.
You can also build a sense of community by teaming up with residents and getting involved in local charities and causes. You could form a team for a local 5k or volunteer as a group at an animal shelter.
Tell a Story on Social Media
With 90.4% of millennials using social media daily, you should be taking advantage of this attention. But you have to be smart in how you use social media. Millennials don’t like to be advertised to, they want to be a part of the conversation. Get them engaged by telling a story across your social media channels. Try to paint a picture of what life is like at your community by creating authentic posts and videos and engaging with them in a real way. Speak to them like a person, not like an advertiser.
Show Off Your Location
Location is everything to millennial renters. When searching for apartments, most millennials will be attracted to communities that are close to work, shopping, restaurants, and attractions. Proximity to public transportation or major highways is also important. Access to bike trails and walking trails are also popular neighborhood features. The easier residents can get around, the better.
Welcome Their Furry Friends
Millennials are now the largest segment of pet owners. With pet-friendly apartments being non-negotiable, you can really win renters over with pet-friendly amenities. Dog parks, pet wash stations, and dog-walking services are just a few ways to tell potential renters that all furry friends are welcome. Waived pet deposits are another great way to capture their attention.
Millennials enjoy having one space to work, eat, play, and live. Instead of highlighting square footage, emphasis large, open spaces. Big kitchens, open floor plans, and flexible spaces go a long way in attracting millennials.
Boast Unique Amenities
In most markets, pools and gyms are a given. While you can stand-out with rooftop pools, yoga studios, Peloton bikes, and other upgraded amenities, you should also highlight unique amenities that your competitors don’t have.
While co-working spaces, green spaces, outdoor kitchens, private spas, on-site restaurants, and car-charging stations aren’t groundbreaking features, they aren’t nearly as common as pools. Have your unique features become your shining stars!
Technology is an integral part of everyday life for a millennial. Tech-forward rental properties are immensely attractive to the millennial generation. Smart locks, high-speed Wi-Fi, USB outlets, smart lights, and high-tech security systems will add another layer of convenience to their lives.
Embrace Reviews – Both Good and Bad
With 91% of millennials trusting online reviews as much as friends and family, you can’t afford to ignore their significance. While positive reviews obviously are more attractive, negative reviews allow you to show off your customer service level. Be proactive in responding to reviews and have a strategy in place for addressing negative reviews.
Offer Customized Upgrade Packages
Millennials grew up in an age of convenience. With online payments being a given, millennials appreciate the ability to pay for things in one place. Consider offering upgraded utility packages that include water, electricity, internet, or other services. Luxury communities may offer laundry service or pet-sitting packages. Bring together convenience with time and budget-saving packages.
Help Protect the Earth
75% of millennials have changed their buying habits with environmental sustainability in mind. Energy-efficient lighting, recycling programs, and low-flow toilets are just a few things that can appeal to renters who are actively playing a part in protecting the environment.
The key to attracting millennials is to create a sense of community that seamlessly adds convenience to their daily lives while holding true to what they most value. Throw away the idea of marketing apartments to millennials, and instead embrace the idea of creating positive experiences for them. Not only will you capture their attention, but you will also connect with them in a way that will encourage long-lasting tenantships.
Need help connecting with millennial renters? Contact the apartment marketing experts at REPLI today!
Siobhan Park is a Digital Marketing Specialist (and the Culture Captain) at REPLI.
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