What Do Millennial Renters Want?

As a card-carrying member of the Millennial Generation (those of us born sometime after the early 1980s), I can attest that my peers and I are something of a different animal when it comes to real estate. We prefer to rent, not buy, and we’re looking for places in urban areas with easy access to everything from our jobs to the movie theater. And once we find a place we like, we want our landlords to be friendly, understanding, and responsive — not sleazy!

Credit: thinkpanama

Credit: thinkpanama

A new e-book from Renters Warehouse identifies a few easy things that landlords can do to convince Generation Y that their property is the best option. Here are some of the best tips:

Emphasize the location. That’s not a tip that’s specific to Millennials, but it’s important to point out to potential renters that a property is close to certain amenities, like the grocery store, the bank, and public transportation. Many Millennials don’t have access to cars, and will need to walk, bike, or take the bus. No one wants to sit on the subway for an hour to get to the pharmacy!

Make a great first impression. Millennials — especially those of us who are fresh out of bad experiences with slumlords in college towns — want to feel confident about their new landlords. Make sure the property has clean floors and fresh paint, and spruce up the exterior if there’s any maintenance to be done. Outfitting the property with large windows, stainless steel appliances, and ample closet space is a plus, too. Connect potential renters with current renters who can provide stellar references for you.

Stay connected. Once you’ve found your renters, maintain a good relationship with them! Make sure you’re easily reachable via email or phone, respond quickly to maintenance requests, and follow through with any promises you may have made (I’m really feeling this one! Still waiting for the in-unit washer and dryer that was mentioned to me before I signed my lease 10 months ago).

Had any experience working with Millennials? Got any additional tips?