The Millennial Generation—a group of people between the ages of 18 and 34, also known as Gen Y, many of whom really love their cell phones and social media pages—makes up a large part of the rental market. Boom. Now that this generation is becoming gainfully employed, the millennials are the group that rental owners and managers really ought to attract.
When determining a particular type of apartment or condo—millennials are considering factors such security, rewards, and cost. But millennials are also considering more alternative amenities that provide a local and culturally satisfying experience. Promoting certain amenities will be a large part of the effort to attract millennial renters.
So here is a list of a few amenities you might want to consider if you haven’t considered them already.
1. Access to Public Transportation
Many millennials flock to major cities after college seeking energy and opportunity. However, having a car is expensive, and in most cities, unrealistic. Finding a neighborhood with excellent public transportation is key–but not all neighborhoods have convenient connections to other parts of the city.
Know the main areas that you commute to regularly, and look for apartments that are within walking distance to a public transit hub that can take you directly where you need to go.
2. Great Nightlife
There’s nothing like getting out of work after a long day of enhancing your company’s social media presence and heading straight to the trendiest bar. Most millennials are at the stage of life that’s between college-binge-drinking and getting-serious-settle-down-mode, meaning that they want the option of going out, even if they don’t party every weekend.
Search for neighborhoods that have several different clubs, bars and restaurants to choose from. That will enable you to easily maintain your social life without driving or commuting far.
3. Health Food Hot Spots
Many millennials are health conscious and follow news surrounding sustainability, genetically modified organisms and organic farming. For this reason, this generation looks for grocery stores that carry healthy products. If you want access to low-cost eco-friendly foods, find neighborhoods that have such stores or hold regular farmers markets.
If healthy eating is a huge part of your life, you’ll also want to research organic, vegan and vegetarian restaurants in your neighborhood. If a neighborhood doesn’t have the right eateries, you won’t be going out much.
4. Resale Shops
A majority of millennials have to contend with student loans and starting salaries, making them a fiscally-conscious bunch. They want to make their way in the world without spending too much money—especially if that money can be put to better use. A lot of people cut back spending by shopping for furniture, home goods, and clothing at resale retailers.
Fortunately, cities have tons of these types of stores, you just have to look for neighborhoods with a storefront or two. You might have to take a trip to the area to look for resale shops, as not all of them have a website or social media account.
5. Plenty of Wi-Fi
Adults in the 20-something range use the Internet for just about everything, and many even telecommute (or work online). While 4G speeds are great for browsing on your phone, a solid Wi-Fi connection at your favorite cafe or the public library is a must. Sometimes, sitting at home and surfing the web isn’t as appealing as working with a nice hot latte.