While Millennials make the transition from renting to purchasing their own homes, the next renting generation is going to be Gen Z.
Though similar to the Millennials, Gen Z-ers (or Zoomers) have their own unique tastes and values. As the first generation to be raised completely with access to the internet and with rapidly shifting technology, Gen Z is heavily reliant on technology in their daily lives. Understanding how to turn this into an advantage for you is key to gaining Gen Z-ers as tenants.
Attracting Gen Z Applicants Online:
In particular, Gen Z thrives on up-to-date technology, energy-efficient amenities, affordability, and personalized experiences. Set your listing up for success by focusing on each of these aspects. Remember, if your website is out of date or unprofessional, it will likely be overlooked by Gen Z-ers. A good online presence is vital to grab the attention of possible Gen Z tenants. Keep your content concise, shareable, and mobile-friendly to attract the eye of Gen Z renters.
Gen Z spends more time online than any other generation, and the majority of this time is used on mobile devices in particular. This makes it vital that your listings and website are all readily accessible from mobile devices. The formatting on these devices should be simple and easy to navigate. Investing in a strong social media presence will give you an edge in getting Gen Z tenants.
Approximately 60% of Gen Z-ers purchase items that they found via social media, making social media an excellent place to advertise. Coming up with content for multiple social sites is surprisingly simple. Video tours of specific properties or surrounding locations and interviews with other residents can be a good way to reach Gen Z. Taking pictures of community events and posting those can also be an excellent way to reach out on social media.
While having rental listings easily available is key, the process of applying for a place should be just as easy and efficient. Online applications are essential to attract the Gen Z applicant.
Use Technology to Attract (and Keep) Gen Z Renters:
In a typical Gen Z-er’s world, efficiency and prompt digital communication are both incredibly important.
The faster that a Gen Z tenant can report an issue and have it resolved, the better. The rapidness of your response can influence how many Zoomer tenants you will keep. Utilize a tenant portal through property management software or add it to your website to ensure that your Gen Z tenants can easily report issues or ask questions. A chatbot on your website or FAQs documentation on the tenant portal can both serve to help tenants quickly answer questions 24/7, in a similar way that a Google search would.
Having advanced technological amenities in your unit is important as well. An update could be something as simple as having power outlets with USB ports. Keyless entry, smart thermostats, and smart outlets all demonstrate an understanding of how important technology is to Gen Z. The added convenience is also passed along to you, as the landlord or manager. With keyless entries, no one will have to call you for keys to get inside of their unit.
Add Green Amenities:
Green or energy-efficient amenities in the unit will also draw in Zoomer tenants. Like Millennials before them, this generation is invested in environmental causes, so having an eco-friendly rental can help push your unit to the top of a Gen Z-er’s list. While you may already have some of these amenities from having Millennial tenants, adding a few more could boost your impact on potential Gen Z clients.
Water-saving showerheads, eco-friendly appliances, and energy-efficient window panes are all benefits that will draw in a Gen Z renter. Making sure to have recycling available is sensible as well. Besides being a great selling point, they provide landlords and owners long-term savings and grab the attention of an eco-friendly renter.
While these amenities are all important for Gen Z, if the listing is not affordable, then they will not go for it. Affordability is possibly the most important thing for Gen Z. There are multiple reasons for this. College debt is looking to be possibly the most massive issue for the Zoomer generation. Because of this, they are going to be more frugal than Millennials. While small upgrades can boost your appeal to Gen Z renters, be sure to highlight affordability rather than opting for luxury amenities.
Pay Attention to Personalization:
Landlords should not underestimate Gen Z’s desire for a personalized tenant experience. Gen Z-ers tend to be more connected to brands that allow them to create their own experiences or products. Make an effort to connect with your Gen Z residents and show that you genuinely care about their experience while renting from you.
Authenticity is key to gaining Gen Z tenants. Mass advertising is everywhere, but if you are genuine and authentic, then you will be more appealing to potential tenants. They will be more interested in your listings and will end up more likely to stay with you if you continue to pay attention to them. Try connecting with your Gen Z renters through community events, personalized tenant reminders, welcome gifts, and through newsletters or social media.