How Social Media Can Attract Gen Z Renters

With 2022 ready to come in just a few days, property managers and the real estate are now looking at how to attract new renters for the upcoming year. One important demographic property managers are looking to attract is Gen Z. As the first group in history to be raised by the digital world, Gen Z renters are used to growing up surrounded by social media, research, and the newest innovations in technology at their fingertips.

As the Gen Z demographic prepares to rent their first apartments or multifamily units, property managers must consider the appeal of community, sustainability, and eco-friendly living areas that attract Gen Z renters. Amenities such as high-speed Internet and outdoor community and garden spaces are more likely to draw in Gen Z renters than the older, traditional properties of past generations.

The world of social media and fast-paced communication also indicates how property managers should communicate with Gen Z renters. Gen Z renters no longer want just a sales pitch, but authenticity from property managers. Different forms of communication, such as texting, attract Gen Z to properties than telephone calls. Using social media to engage and educate consumers is also important, as Gen Z renters will feel more included with social media feeds that have their customized interests, rather than just hearing sales pitches. With this in mind, property managers can use the latest social media developments to connect with Gen Z renters and make them feel they have more than just a property to live in–they have an elevated community.

The One Way Self-Guided Touring Revolutionizes Renting

From starting as a sparsely used add-on feature to becoming an absolute necessity for rental housing, self-guided touring has now become the norm for property managers to have. Self-guided has served as a valuable asset during the COVID-19 pandemic, as they implement social distancing. Potential renters have the option to tour a multifamily or apartment property without having to meet property managers face-to-face. Self-guided touring also gives renter more flexibility in choosing when they can tour, as well as choosing the pace they want to go for a tour.

However, it’s important to note that the journey to create an efficient self-guided touring option has not always been easy. Companies had to look at solutions for certain situations that could arise, from touring after leasing offices are closed to closing off dead zones to potential tourists. The way that companies looked to remedy these situations was to take note of what property managers and residents need, as well as making sure to set options to how residents can self-tour and avoid dead zones in buildings.

How Invictus Fits In

Invictus also offers the option for potential residents to have self-guided tours. Potential residents are sent a wayfinding map and can tour living spaces at their own pace. This also gives property managers a chance to emphasize that socially distancing is taken seriously at their property with offering self-guiding tours. Residents feel more empowered with self-guided touring, as it gives them more agency to choose when they would like to tour, as well as having more flexibility when choosing the next apartment or multifamily property to live in.

How Proptech Can Enable Brokers

With COVID-19 playing a major role in how people and technology work together in different industries, the future of brokers and real estate has changed as well. Some thought leaders have expressed concern about if AI and other tech innovations could take over human employees and continuing to drastically change the job market.

However, companies such as B +E say that people and technological innovations can work together without one have to completely erase the other. The future of real estate can feature equal collaboration between brokers and modern tools while continuing to retain resident satisfaction. Updated dashboards for property managers can be used to compile realtime data and activity, while giving its users confidence in selling net real estate and retaining residents. When managing larger portfolios, property managers can use technology to analyze how each property is performing and manage all resident needs.

How Invictus Fits In

One prominent feature of using Invictus is the administrative dashboard utilized by property managers. Instead of having multiple single software subscriptions, property managers can access all software and apartment property needs through one administrative backend. With Invictus, property managers can also offer potential residents self-guided tours of their property as well as have direct chat with current residents. Invictus allows property managers to continue to be hands-on at their work place while continuing to utilize technology to elevate their community and keep their residents satisfied.

High Income Millenials Are Now Turning to Lifestyle Renting- Here’s Why

According to recent study conducted by RentCafe, there is a rise in higher-income Millennials choosing to rent instead of buying a home. The share of rental applications for renters earning more than $50,000 is at a five year high of thirty-nine percent and rental applicants are making an average of ten percent more this year than last year. With an above average income and higher budget for renting, lifestyle renters can choose to live in amenity-rich, high-quality apartments. However, soaring housing prices as well as inflation and interests due to the COVID-19 pandemic have prevented potential buyers from putting a down payment on a home, thus having to turn to renting instead.

How Invictus Fits In

Invictus allows potential renters to search for a potential apartment available for lease even when the leasing office is closed. Potential renters also have the option of a self-guided tour with a digital map included. This gives the renter more agency in choosing when and how they would like to tour their next living space, as well as minimizing in-person contact during the COVID-19 pandemic. With self-guided tours, both the potential renter and property manager can digitize their apartment or multifamily properties and enjoy a new, empowered living experience.

The Top 7 Apartment Amenities to Attract Millennial and Gen Z Renters

As Millennials continue to put off becoming homeowners and Gen Z begins to enter the workforce, renting becomes more and more popular with these groups. In order to attract young renters, it is important to understand what their ideal rental property looks like. To know what factors to invest into, here are the top seven amenities Millennials and Gen Z renters look for in their future living spaces:

  • High-speed internet and strong cell phone reception
  • Lower upfront move-in costs
  • Spacious floor plans and possible outdoor space
  • In-unit laundry applicances
  • Guaranteed car and bike parking spaces
  • Virtual and in-person community gatherings
  • Quality safety and security measures

For more information, click here.

Service and Technology Wins in Apartment Amenities

Modern apartments now include amenities from communal treehouses to sky terraces with firepits. While this may seem over the top, it shows a shift in what residents and developers look for in high-rise living. Adding that infusion of technology in a modern apartment can separate it from its competitors. Developers are beginning to realize that their new buildings need to be updated with the latest technology and amenities, and tech-enabled concierges and in-building messaging are drawing the eye of developers. The push for digital platforms that connect residents within their community is another driving demand, and will continue to be the force that persuades younger residents to continue living in modern, high-end residential buildings.

For more information, click here.