Nearly one-third of all apartments are rented by tenants under the age of 30. More young people are also renting for longer periods of time, instead of investing in their first home purchase. Combined, this has lead to an increase in the amount of young renters in the market.
Successful property managers will agree that good tenant communication will lead to increased tenant satisfaction, and higher tenant retention. As property managers are being faced with a growing number of young renters, consider these 3 tips for more effective tenant communication with this demographic:
1. Sustainability is Important
A recent study showed that today’s potential young renters place high importance on sustainability and economic efficiency. Property managers are beginning to realize that something as simple as not offering recycling services at their rental property can cause young renters to consider other properties. Offering electronic tenant communication will help your rental property go green and attract younger renters.
2. Digital Tenant Communication is Necessary
To attract young renters, property managers need to have all of the appropriate online marketing tools such as an optimized website and social media involvement. In fact, a recent study determined that millennials have more trust in brands with a strong social media presence. To help achieve tenant retention with young renters c, property managers should consider implementing a tenant communication system that allows them to communicate with tenants digitally and vice versa.
3. Personalized Tenant Communication Goes A Long Way
As a generation, most under 30 have grown up with more access to convenience than those before them. This age group is typically more accustomed to personalized customer service – thanks in part to considerable technological advances during their lifetime. For property managers, this means it’s important not to lose sight of excellent customer service. Consider a tenant communication tool that will allow you to personalize messages to young renters through their preferred method (voice, SMS text, or email.)
Alert Solutions can help. Download our tenant communication brochure to learn more about communicating effectively with your tenants via multiple personalized channels.