In a recent finding, millennials are now mostly homeowners, meaning most renters are now Generation Z. This generation is the most radical and ethnically diverse in the country. They are highly educated and highly tech-savvy. So stand out to this generation by keeping your properties attractive. We compiled a short list of tips to attract potential residents to your properties. But first, start with some amenities to make your property more attractive for Generation Z. High-Speed Internet: Gen Z spends more time on the internet than any other generation. What’s more, they are most accustomed to rapidly advancing technology and have high expectations regarding technology. Therefore, provide complimentary high-speed internet or include it in the rent price. Outdoor amenities: Adding outdoor amenities to your property will boost its value and provide that highly sought-after green space residents crave. Gen Z values community, and outdoor spaces are perfect for groups to gather and mingle. Consider setting up a courtyard or garden area with comfortable patio furniture and BBQ grills. Add some water fountains for some to come and have a Zen moment in the garden and not have to always use the indoor gym for yoga. Add a community dog park, too, so you don’t have to worry about the garden getting run down by pets. Coworking spaces: Since 2020, remote work has been the norm, and many Gen Z residents will work from home. As a result, coworking spaces are a highly desired amenity to this generation of residents. Since remote work is only expected to grow, a coworking space is a wise investment for the building. If able to add a business center to the property, this can be a great coworking space. Residents can reserve a meeting room for the day and have colleagues come in and work for the day. Adding a coffee bar with a few snacks would boost morale and synergy. Consider adding a cold brew keg of coffee which is now the coffee favorite of Gen Z. Also, be sure to have a few computers, printers, and copiers for residents to use. Make them available during business hours. Property technology: Over 50% of Gen Z says apartment technology is essential. Broken elevators, old kitchen appliances, and bad fluorescent lighting will not fly with this generation. Smart home amenities like smart locks and thermostats are tech-powered features Gen Z residents crave. To wow Gen Z residents and prospects, manage the building’s smart technology in one place. Integrate and invest in a unified mobile app solution. With electric cars becoming more popular, include a few parking spaces with electric vehicle charging stations. And for those residents with bicycles, consider having a smart lock station or area for bikes. Mailroom for today’s online economy: For Gen Z, online shopping is the norm. Everything they order, from groceries to clothing to furniture online, Gen Z seeks apartments that ensure secure and accessible deliveries. The best solution is to add a package management solution to the mail room. Delivery carriers can access this to drop off parcels, and residents can be notified with a code or QR code to scan and receive their packages. Install a video intercom system at the door so couriers can gain access to the room. Beyond investing in the right amenities for the building, appeal to Gen Z prospects by using social media to market properties, showcase online reviews, offer virtual and self-guided tours, and invest in design upgrades. When you invest in design upgrades, prospects will pay that higher rent. So upgrade units with spacious balconies, more enormous closets with shelves, better lighting, trendy fixtures, upgraded countertops and appliances, and replace carpet with hardwood flooring or wood-like laminate if budget allows it. If planning on building a new property, consider areas with businesses within walking distance of the location, such as a local farmers market or wine bar. Updating properties with technology...
Gen Z
A Year Later
What do you call a group of diverse digital natives and entrepreneurial decision-makers with the ability to change the multifamily industry? This title belongs to Generation Z, the largest and most tech-savvy group of renters yet. Last summer, REACH by RentCafe conducted a survey to better understand Gen Z’s search habits, but members of this generation are now a year older. This means they’ve lived through 365 days of new experiences, changes and adventures. It also means that they have had a whole year to refine their online search behaviors. This summer, REACH wanted to investigate where this generation stands a year later when it comes to their online search habits and how best to win their attention. To do this, we interviewed over 12,000 members of Gen Z to gain insight into how to best attract members of the youngest, biggest and perhaps most important renter group yet. Here’s our Gen Z update: What are Gen Zers looking for? Findings from this year’s survey confirm that, once again, many Gen Zers don’t yet know what they’re searching for. This year, 41% admit that they’re still figuring it out when asked what they’re looking for in an apartment. This data tells us that the apartment search starts early for Gen Zers. At this stage, they’re probably using an ILS to shop for and compare apartments. On the other hand, 59% of Gen Zers know more about what they want, including apartment size, price, location and desired amenities; a full 26% of Gen Zers say they have all the information needed to make a purchasing decision. These renters are ready to take the next step, using long-tailed search terms to find the specific apartment that meets their needs. So how do you market to the...
PropTech for Gen Z
Appealing, Engaging, Converting
Do you know if your proptech will maintain its appeal to future generations of prospects? If not, no worries. We’ve done the research for you. We’re exploring proptech with staying power, tools for today that will continue to deliver results well into the Gen Z lifecycle. Cut costs with lasting proptech Proptech is a major investment in money and hours. The technology you choose should evolve with users’ changing needs to ensure that you get the best impact per dollar. Not all new solutions will stand the tests of time. Are you confident that your proptech lineup is ready for Gen Z? Read on for the essential solutions that your organization needs. REACH brings you the freshest data on Gen Z Gen Z is comprised of about 67 million people, the oldest of whom turn 25 this year. We learned more about the largest renter demographic ever through the REACH by RentCafe Gen Z Renter Study. This survey of more than 10,000 next gen renters gives insights into their habits and interests. The results confirmed what we’ve observed: Gen Z is an intelligent, tech-savvy generation that values efficiency and creativity. They value proptech that feeds their need for contactless transactions as well as quick and easy access to information and services. Tech for targeted and engaged marketing One average, Gen Z search terms are 4.9 words long, longer than all previous generations. They know that using detailed queries will bring them closer to what they really want rather than wading through pages of irrelevant results. Appeal to their specific searches with longtail keywords and campaigns crafted by search engine marketing professionals. Expert search engine optimization (SEO) strategies will help your content rank well and be discovered by prospects. When supplemented with pay-per-click (PPC) advertising,...
Renting to Leaders
Multifamily Prepares for Gen Z
Is your property ready for Gen Z renters? Gen Z has different housing expectations than any generation before them. A new study reveals their unique interests and goals. Renting to Gen Z requires appealing to their mindset. This may lead to a significant shift in how we view floor plans, services and amenities. Gen Z is already old enough to rent?! It’s true. The generation that feels like it was born 10 years ago is now entering adulthood. Members of Generation Z were born between 1996-2012 which means the earliest members are among your current prospects. This generation of 67 million people is one of the most racially and ethnically diverse to reside in the U.S. That suggests that there is a broad pool of features and amenities to keep in mind when renting to Gen Z — but there are a few unifying threads among the masses. Gen Z: a generation of leaders In the “Meet Gen Z” infographic created by REACH by RentCafe, it cited data from Dan Schawbel which revealed that 81% of Gen Z aspire to be leaders. Specifically, 41% plan to be entrepreneurs. These data points suggest that many of your future residents will have big pursuits and their home must reflect their goals. To use this information to your advantage, think of services and amenities that cater to the entrepreneurial mindset. How might you enhance your business center? Might you transform a common space into an on-premises coworking center?Could you enter a mutually beneficial contract with a nearby coworking space?Might you build community through a local group for leaders and entrepreneurs?What events could show that you understand who they are? What local leaders or entrepreneurs might you invite to speak at events for your residents?How will your...
Design Preferences
Of Gen Z
Say goodbye to Millennial Pink and hello to Gen Z Yellow! When it comes to Gen Z design preferences, this generation of renters has a style all their own. Check out the infographic and keep reading to learn how you can meet the visual expectations of your newest customers. Survey says REACH by RentCafe recently conducted a large-scale survey of Gen Z renters to gauge their sentiments about search, reviews, social media and design. The Gen Z design portion of the survey had 10,624 participants that answered four questions. Do you prefer bright and vibrant colors or soft and calm colors?73% prefer soft and calm colors27% prefer bright and vibrant colors Are you more attracted to lifestyle photos (of people and pets) or property photos (of buildings and outdoor spaces)?68% prefer property photos32% prefer lifestyle photos In design, do you prefer patterns and textures or clean, classic lines?70% prefer clean, classic lines30% prefer patterns and textures Which do you prefer: a website that loads quickly or a website with a lot of motion and animation?88% prefer a website that loads quickly12% prefer a website with a lot of motion and animation Other data Echoing the desire for calm colors and clean lines cited in the REACH survey, a Spotify trend survey conducted in 2019 found that 51% of Gen Z and millennial respondents think there is too much visual stimulation in the world today. Additionally, 64% believe online aesthetics have altered what their generation expects to see in the real world. What does this mean for property management brands? Your communities had better deliver on the experience promised by your website and other digital marketing channels. After all, the REACH survey found that Gen Z overwhelming preferred property photos to lifestyle photos, showing that...
Social Media Habits
Of Generation Z
After getting to know Gen Z, REACH by RentCafe investigated how these young renters search online and how they use ratings and reviews while doing so. Today, we’re sharing data related to one of the most notable and important aspects of this generation’s lifestyle: social media. All about social media, all the time Welcome to the world of social media, where Gen Zers are no strangers to the posts, snaps, influencers, advertisements, stories and hashtags that dominate these platforms. And how could these young renters not be well versed in the art of social media? They have grown up in the age of smartphones, tablets and computers. In fact, 95% of Gen Zers use a social media app or website at least once a week, while 33% claim they spend most of their time outside of work or school on social media. It’s important to grasp the prominent role social media plays in the lives of Gen Z so you can attract these young renters. After asking over 10,000 members of Gen Z to name their top 3 social media channels, REACH by RentCafe found that those most often chosen included Instagram (46%), Facebook (43%), YouTube (39%), TikTok (33%) and Snapchat (30%).Interestingly, this data informs marketers about what exactly Gen Zers are doing while on social media. Most of these platforms center around videos, meaning that Gen Z is spending a great deal of time seeking entertainment. In a survey, Gen Zers identified the three things they felt most connected with while using social media: entertainment, their friends and the world. Reaching Gen Z on social media So how can you attract Gen Zers using social media? We have a few tips to help you out: Use storiesDid you know that Instagram alone has...
Yardi at Apartmentalize
Get the Details
Chicago has reopened, and Apartmentalize powered by NAA will be there at McCormick Place from Aug. 31-Sept. 2 to bring forward-thinking multifamily operators from across the country and leading solution providers together. Yardi will return as a proud top tier partner, presenter and exhibitor. Read on for everything you need to know about this year’s event. See our innovative proptech Don’t miss the chance to connect with Yardi in person at Apartmentalize 2021. Come to booth #1001 to see our latest protech innovations. We’re excited to show you how our single connected solution will help you visualize performance, reduce expenses, automate interactions and enhance operations to increase your NOI. We will be featuring: REACH by RentCafe: Improve marketing ROI with advanced digital marketing services including SEO, PPC, social media, reputation management and performance analytics. RentCafe: Drive leases and improve retention for higher rental revenue with self-guided tours, a chatbot and smart home services. Yardi Elevate Suite: Combine deep operational data, market intelligence, revenue forecasting and prescriptive analytics to optimize asset performance and increase NOI. Introducing Yardi Breeze Premier: Our intuitive and powerful property management software is making its industry debut at the show. Boost performance with an easy-to-use, all-in-one marketing, management and accounting system. Reserve a private demo to see any or all of our proptech innovations that will take your business forward. Learn with us Yardi leaders will be participating in four educational sessions to share insights on hot industry topics and trends. Take advantage of these opportunities to deepen your industry knowledge and improve your operational strategies. Meet Gen Z: Understanding the Next Generation of Renters | Aug. 31, noon-12:45 p.m. Join Esther Bonardi, vice president at Yardi, as she leads a panel on Gen Z renter preferences with Garin Hamburger, senior director of national property marketing at Cushman & Wakefield, and Brooke Atsalis, marketing and training manager at The Management Group, LLC. Over 40,000 survey responses will help you get to know Gen Z through the data. Review shifting search trends, examine touring preferences and discover five tech must-haves. Learn how to adapt your property marketing strategy and shape your future success as we prepare to welcome a new generation home. Emerging Issues: Inflation and Its Effect on the Industry | Aug. 31, 1:15-2 p.m. NAA’s AVP of research, Paula Munger, joins industry experts, Jeff Adler of Yardi Matrix and Jay Parsons of RealPage, to discuss price trends, their impact on the economy and the industry, and what we can expect for the remainder of another very strange year. How will it affect the industry and how much sleep should you be losing over it? How Universities’ COVID-19 Decisions Impact the Student Housing Industry | Sept. 1, 3:45-4:30 p.m. Join Jeff Adler and Chris Nebenzahl of Yardi Matrix for a discussion on fall 2021 pre-leasing and how it compares to prior years. They’ll discuss rent growth in a post-COVID world, new development of purpose-built student housing, how universities have handled the pandemic from operational and housing perspectives and future plans for the industry. Myth Busting: Case Studies Debunking Affordable Housing Online Application Process | Sept. 1, 3:45-4:30 p.m. Geared towards affordable housing operators, Yardi vice president Christopher Voss joins Dawn Ford of Smart Apartment Solutions and Smart Moves, Phyllis Garcia of Ovation and Shay Dugan of TM Associates as they talk about the need for conducting business online and the perceived barriers considered unique to the affordable housing market. Pick up tools and possible solutions, such as low cost/no cost and easily accessible platforms that smash the myths that technology cannot exist in the application processes. See the complete Apartmentalize schedule for more information. Can’t make it this year? Not attending Apartmentalize 2021 but want to learn more about our solutions? Check out the Yardi Multifamily Suite, join a webinar or contact us with any...
Gen Z
Ratings & Reviews
The tech-savvy members of Gen Z are no strangers to browsing and shopping online. As a generation with high expectations, ratings and reviews are a large part of their online buying process. But just having ratings and reviews isn’t enough to win their business. You have to be strategic if you want to stand out from the competition. REACH by RentCafe is digging into how Gen Zers use ratings and reviews. This information will help you figure out how to achieve glowing ratings from your young renters. Why are reviews important? Before jumping into how Gen Zers use ratings and reviews, it’s important to first understand just how essential this aspect of your business is. For one, reviews help potential customers gauge an item or service’s quality while simultaneously informing your business about what works and what could be done differently. Additionally, reviews improve your search rankings. Did you know that, without them, there’s no chance of showing up in the Google local pack? Lastly, and perhaps most importantly, reviews increase the likelihood of conversion, and isn’t that the goal of your digital marketing strategy? Ratings and reviews inspire customers to reach out to you, increasing the probability of them converting. RentCafe.com conducted a study of all the apartment search journeys that resulted in a lease and found that ratings and reviews were one of the top three features that lead to conversions. When you’re looking to draw in Gen Z renters, ratings and reviews are a critical part of the marketing process. How do Gen Zers use ratings and reviews? As part of a survey series with more than 10,000 Gen Z participants, 65% of Gen Zers say they consider ratings and reviews always or most of the time when searching online. This...
Gen Z
Online Search Behavior
After first getting to know Gen Z, the team at REACH by RentCafe investigated how this tech-savvy generation searches online so that you can learn the best way to attract these young renters. Gen Zers have developed specific search and viewing habits For a generation that has grown up glued to computers, phones and tablets, Gen Zers have had years to cultivate their online search habits. In a series of 36 video interviews with members of Gen Z, REACH by RentCafe found that participants tended to start their search on Google, and often used long-tail search phrases, averaging 4.9 words per search. This is higher than the overall average of 4.2 words. Additionally, Gen Z tends to favor key words such as “Best,” “Cheap” and “How to” when searching online. Members of Gen Z also spend a lot of their time online watching videos, and they have specific preferences when it comes to which type of clips they like to watch. In a survey of over 10,000 Gen Zers published on rentcafe.com, 69% said they preferred a combination of user-created and professionally produced videos. This generation has come of age online, and as these renters enter adulthood, it’s clear that they are not only fully equipped to navigate the internet, but they’ve also developed a specific way of doing so. Gen Z attention span < goldfish attention span Did you know that with an estimated attention span of just 8 seconds Gen Zers are even less alert than their millennial counterparts (12 seconds) and, yes, goldfish (9 seconds)? In one video interview from the series, Gen Z member Keona spoke about how, when searching online for restaurants, thousands of results could be “overwhelming.” She continued, “I have a very short attention span, and I...
Gen Z
An important introduction
Step aside millennials, the largest generation ever is ready to rent. The oldest members of Gen Z will ring in their 25th birthdays this year, and this tech-savvy group is quickly becoming the fastest growing renter demographic. Coming of age in the era of smart phones and social media, Gen Zers are highly skilled and have even higher expectations compared to previous generations. By now, you probably know the basics about Gen Z, but as the up-and-coming generation of renters, it’s critical to dig deeper. To appeal to these “digital natives,” you must first understand their habits, values and lifestyles. Lucky for you, REACH by RentCafe is taking a closer look at Gen Z characteristics and will be sharing its research data with you in a series of infographics. But first, let’s understand who exactly these Gen Zers are. Gen Z’s top 3 characteristics Gen Z is made up of independent and entrepreneurial thinkersMost Gen Zers were raised by members of Gen X. As parents, Gen X tend to favor autonomy and entrepreneurialism, values they have passed on to their children. Members of Gen Z celebrate their independence and ability to express themselves, and they don’t have the perception that things will just go their way. They aspire to become leaders, and 41% plan to become entrepreneurs. More than others, this young generation seeks to create success instead of expecting it. Gen Z values diversity and societal changeWhile Gen Z is the largest generation yet — roughly amounting to 2.46 billion people in 2019 — it is also the most diverse. According to the Pew Research Center, in the US, 52% of Gen Zers are non-Hispanic white, 25% are Hispanic, 14% are Black, 6% are Asian and 5% are other.They’ve also experienced and embraced...
Reach for New Renters
RentCafe Reach now for student housing
With spring’s college graduations and early summer’s high school graduations behind us, a whole new generation of renters is coming online. These young renters are bringing new life into the rental market, along with their mobile devices and digital expectations. Born in 1995 and after, the first wave of Gen Z are now in their 20s and chances are, they will be searching for rentals with their smartphones. Are you doing everything you can to attract these tech-dependent prospects to your properties? Trends show that Gen Z doesn’t really respond to traditional advertising, but does read reviews and makes decisions based on them. They spend more time on Instagram than Facebook. They are likely to prefer online chat or texting for communication, and expect to pay for things online. That means rent, too. Here’s some great news: the advanced marketing services of RentCafe Reach are now available to our Yardi Voyager Student Housing clients. Now it’s easier than ever to reach more renters who are searching online for a place to live. What is RENTCafé Reach? Managing your student housing marketing, leasing and resident services from one platform that includes dynamic property websites and smart multichannel marketing tools gives you the greatest competitive advantage. With RentCafe Reach, you can take your targeted efforts even further for the best possible results. How renters find vacancies when searching online (the most popular way) often takes multiple paths. RentCafe Reach is comprised of three distinct services—search engine optimization (SEO), search engine marketing (SEM) and promoted internet listings—working together to make sure your communities are positioned to attract more prospects, no matter how renters choose to search. RENTCafé Reach has a team of property marketing experts who are available to help you with search engine optimization (SEO), pay-per-click advertising (PPC) and enhanced online listings. As a certified Google Partner, we’re ready to optimize your search and lead generation efforts. Because RentCafe Reach integrates with RentCafe and Voyager, you get accurate reporting and complete transparency into your data. SEO & PPC Services The RENTCafé Reach digital marketing team is comprised of Google certified experts in both Google AdWords for paid traffic and Google Analytics for organic traffic. This allows us to use Google as a resource to answer questions and identify future opportunities. Our SEO services include: Optimized on-page content, page titles and meta descriptions Off-page optimization, including business citation and brand management Location data management through our partnership with Yext Regular website health audits and maintenance Monthly reporting, service calls and a dedicated account manager Comprehensive reporting to track results Our PPC services include: Strategic PPC advertising tailored to your goals Campaign management by Google AdWords Certified Specialists Ad targeting based on demographics, location, timing and mobility Ad extensions and landing pages to increase conversions Retargeting campaigns that follow engaged prospects Plus, white hat strategies help our clients improve website performance while actively protecting them against black hat techniques that get flagged by search engines. Get Ready for Gen Z Learn more about end-to-end student housing property management using our single connected solution. From social media marketing and online screening and leasing to text rent payments, you can attract, serve and retain quality new renters who improve your bottom...
