When you see articles within the multifamily industry talking about the amenities millennials want, you see smart locks, partnerships with urban coffee shops, and free yoga classes… but do all millennials really want these things? While most renters (millennials or not) wouldn’t mind living closer to their favorite coffee shop, after interviewing renters across California, I’ve found that ‘Generation Yers’ might not have as expensive tastes as the industry thinks. In fact, millennials are quite interested in finding a home with inexpensive amenities.
Family renters are a property manager’s bread and butter. No matter where your property is located, families will always apply to your community. That being said, family renters value different things than senior or millennial applicants. If you want to attract more families to your community, you’ll have to showcase your property in a certain way.