In conjunction with J Turner Research, Multifamily Executive sought out to determine baby boomers’ wants and needs when looking for a rental property. The groups sent a survey to over 25,000 participants.
For property managers looking to retain their baby boomer tenants at their rental property, pay attention to the following trends:1. Baby Boomers Care about Online Review
63% of those surveyed said they read online reviews about a particular rental property or property management company before signing a lease. Interestingly, only 21% of baby boomers surveyed have been encouraged by their property manager to post a review after settling in.
2. Their Top Concerns are Safety, Cleanliness and Quietness
92% prefer safety, 90% cleanliness and 82% quietness. These are the most important factors in a rental property according to baby boomers.
3. Property Managers Should Market Vacant Units Appropriately
55% of baby boomers rate internet listing sites (ILSs) as the best way to find a new rental property. 44% actually prefer to drive by and take in the curb-appeal of available listings.
4. Social Media is Not a Preferred Form of Communication
25% of baby boomers say they don’t even use social media; something to take into consideration when sharing information with your rental community.
BONUS TIP = Property managers can stay in touch with their tenants through other preferred communication methods besides social media, such as email, voice and SMS text messaging.
Alert Solutions is used by property managers to send emergency and non-messages in tenants’ preferred communication methods. To learn more, download our brochure!