As you get ready to market your new vacancy, take some time to familiarize yourself with the two biggest groups of applicants: Millennials and Generation X renters. Millennial renters (ages 18-34) and Gen X renters (ages 35-50) consist of 85% of the renter population, and are a big driving force for mobile usage (also known as “Generation Mobile”). While these two renter groups continue to depend on online resources, you might want to migrate your leasing process online. Take a deeper look at what the difference between Millennial & Gen X renters is in our infographic below.
Although Generation Z (ages 2-19) has yet to emerge as a significant renter group, there’s no denying that the trend will continue to lean both mobile and online, with short videos and online rental applications at the forefront.
What do you think? Do you think “Generation M” will grow in the next 10 years? What trends do you think Generation Z will follow based off of the Millennial and Gen X renters before them?
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