People of all ages now live the rental lifestyle, but young professionals and students still have the edge. In an age where a third of millennials currently rent and face doing so for the rest of their lives, appealing to this demographic is often a good move for landlords.
Even better, the crossover between young professionals and students is getting slimmer, meaning that landlords no longer have to deal with the tribulations of ‘student housing.’ Instead, they’re able to rent to sensible, young individuals who are guaranteed to stick around. The question is, how exactly can you make sure your property is appealing to younger renters?
1. Get up to speed with the internet
Including a high-speed wired internet package within the price of your monthly rent is guaranteed to pull the young crowd. Whether youngsters intend to get online to study, work, or chat with friends; not having to pay for the privilege is guaranteed to tempt. This needn’t even leave you out of pocket as you can adjust your monthly rental charges accordingly. As simple as that, you can give yourself an edge over many landlords currently aiming towards the same audience.
2. Cut the carpet
Carpet is always a risky move for landlords, especially when you’re appealing to young renters. Get-togethers often get out of hand, and carpets are the top furnishings that landlords have to replace. What’s more, young renters who’ve had accidents before will often look out for hard flooring instead. That’s why you could also benefit from cutting the carpets and offering hard flooring as an alternative. This way, young renters have the option of laying rugs if they want to. Note that wood floor is expensive and also susceptible to damage, so it’s worth looking for linoleum. It’s a little softer, but it’s cheaper and offers insulation you don’t get with wood.
3. A kitchen with all the mod-cons
Despite the ‘convenience food’ lifestyle we imagine from youngsters, most young renters are on a budget. That means they’d rather have a kitchen with all the mod-cons. A kitchen they can cook in could save them a fortune eating out, as well as allowing them to keep on top with healthy diets. Note, too, that youngsters are often pushed for time, so a dishwasher and washing machine are guaranteed to set your property apart.
4. Shower to success
Lastly, make sure that you’re thinking about your bathroom. Along the same, time-pushed lines, focus your efforts on things like your shower head and basin, as these are what will get the most use. Updating these key features is simple and cheap to do, yet it could make your property a far more appealing option for any young renters on the market.
These steps are all relatively easy to implement, yet each of them could make a massive difference for appealing to those desirable young renters. If you want to appeal to the most sustainable rental market today, then don’t hesitate to get started with these as soon as possible.