Gen Z Renters May05

Gen Z Renters

The oldest members of Gen Z are turning 24 this year. They were just seven years old when Facebook launched and 13 when Instagram came along. They have never known a time without the internet. And they’re poised to be the largest generation of renters ever. Just when we’ve adapted to Millennial renters, this new generation enters the market with its own set of renter preferences. But how different are they, really? A rentcafe.com survey of 2,500 renters revealed what Gen Z renters are looking for in their next apartment. First, see the results from that survey in an infographic that you can share. Then, get some tips for attracting and retaining Gen Z residents. Finally, watch a video interview with a Gen Z renter who shares her take on today’s online experience. Infographic: Gen Z renter preferences Gen Z is a generation of digital natives who value technology above most traditional amenities. They search for apartments on Google, check out reviews first and consider high-speed internet to be more important than onsite parking! While Gen Z renters may just be entering the market, their preferences indicate future multifamily trends. For example, this generation is 2x more interested than previous generations in smart home features like locks and thermostats. So for now, smart home features are nice to have. But in the future, will they be considered a must-have to demand the best rent rates? 3 tips for marketing apartments to Gen Z renters The results of this survey were also discussed during the keynote address of the Apartment Innovation and Marketing (AIM) Conference’s virtual Reconnect event. In the presentation, Drew Davis, award-winning marketer and author, and Esther Bonardi, vice president of marketing at Yardi, shared strategies to attract and retain the newest generation...