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...

We’re living in a connected age. In multifamily property management, creating strategic connections can enhance the resident experience and deepen ties with communities and property managers. How? An article in the Harvard Business Review titled “The Age of Continuous Connection” explains how technology is driving meaningful customer experiences. “Thanks to new technologies that enable frequent, low-friction, customized digital interactions, companies today are building much deeper ties with customers than ever before,” wrote authors Nicolaj Siggelkow and Christian Terwiesch.  “Instead of waiting for customers to come to them, firms are addressing customers’ needs the moment they arise — and sometimes even earlier. It’s a win-win: Through what we call connected strategies, customers get a dramatically improved experience, and companies boost operational efficiencies. For multifamily operators, that means creating effective digital connections that anticipate needs and feel personalized. As a result, businesses will be able to free up onsite property staff for more meaningful in-person interactions. Connected businesses At the Yardi Advanced Solutions Conference (YASC) that took place in Washington, D.C., in May 2019, Anant Yardi spoke to clients about continuous connection and how it can be beneficial for real estate business relationships. “This day and age of continuous connection doesn’t necessarily mean we are communicating all the time. But it does mean that we are available, and we respond,” said Mr. Yardi. “Our goal is to provide a connection between the business, the consumer and the property. As we think about continuous communication, the basic way we do real estate doesn’t change. But the way we transact business may change,” he added. For Yardi, this means thinking about the user experience of all parties involved, from stakeholders and leasing staff to prospects and residents. How can we innovate the way people connect with their homes and management...

The Yardi Marketing Forum took New Orleans by storm earlier this month. This sold-out event drew top multifamily property marketers from across the country to The Big Easy for three days of fun, education and networking. View the photo album for a behind-the-scenes look. Attendees enjoyed focused attention from Yardi team members and exclusive guest speaker presentations. Google’s session on “The Age of Assistance” gave the audience three tips for winning in today’s competitive search environment: be there, be quick and be useful. Keep reading to see how you can apply these marketing takeaways from the forum to your property management business today. Be There You can’t win clicks if your customers can’t find you. Ben Waltzer from Google Fiber shared that today’s consumers are “more curious, more demanding and more impatient than ever before.” In fact, 15% of Google searches today are ones they’ve never seen before. Co-presenter Jeff Kirschenmann asserted that searchers “expect us to deliver relevant results at the right time.” Do you have a plan in place convert prospects by connecting during moments of intent? A successful marketing strategy includes being present at every stage of the customer journey. This might include SEO for long tail searches, paid ads for different demographics and nudge marketing that spurs website wafflers into action, as well as a healthy presence on review sites and social media platforms. If that sounds like a lot and you just don’t have the time or staff to handle it all, you might want to consider the advanced property marketing services of RENTCafé Reach. Be Quick Filmmaker Gavin Garrison’s talk focused on the emotional impact of storytelling – not just for video but for all forms of marketing. He spoke about using the power of relatable emotion to...

The UK’s build-to-rent sector is booming. In less than a decade, the sector has grown by around 60% and is now worth some £1.5trn. This comes as no surprise. We all have, at some point in our lives, been looking for a place to live, whether it is a house or a flat, and build-to-rent is an alleviation in the midst of the UK’s housing crisis. The internet has made home searching extremely easy and the advent of the so-called ‘generation rent’ has seen millions of people turning to renting as their model of choice. The old days of pen and paper, endless phone calls and long rides in your car to view properties are long gone and the search is now almost entirely conducted on the web. Just as shopping no longer means showing up in a store, home searching has become essentially digital. But even so, the process might be extremely slow. Imagine you are on your lunch break, looking for an apartment on your laptop or smartphone. You are clicking on dozens of different sites, scrolling through pages and pages of dubious websites. Maybe the information provided on the website is incomplete. It lacks floorplans and energy ratings. There are no reviews or pictures. How can you trust this website instead of another one? Is the apartment going to be as good as it is presented? Are you just going to waste your time? Hunting for an apartment can be a very frustrating experience indeed. Turning to the other side, and looking at the situation from a landlord’s perspective, it is increasingly hard to catch a home-hunter’s attention. Due to the same chaotic web scenario, this challenge is now tougher than ever. How can a landlord make a prospective resident discover...

Did you know that Baby Boomers are the second largest demographic in multifamily housing? Most companies only spend five percent of their advertising budget (and even less effort) on this growing group. Don’t be like them. We’ve got eight tips to master online marketing to Baby Boomers. State your cost—clearly—and why your property is worth it. This fundamental tip is especially relevant to Boomers. They have a lot of money to invest in companies that meet their needs. According to this Nielsen report, Boomers currently control about 70 percent of all disposable income in the US. In the next 20 years, they are set to inherit $13 trillion more. If your property meets their needs, they won’t need sales tricks to buy in. Ensure that your marketing story explains how your property can meet and exceed their expectations. They will be willing to pay top dollar. Highlight the conveniences of renting. Many Boomers opt to rent so that they can explore other interests without the burdens of homeownership. The amenities that set your rentals apart from homeownership are valuable selling features. As former homeowners, many Boomers know that property maintenance is hard work. Boomers will appreciate the assurance of prompt maintenance services. Highlight residents’ access to Online Maintenance Requests through Yardi RentCafe®. The tool will appeal to their desire for convenience. Tell the story of the active, hip Boomer. Boomers don’t want to be reminded that they’re aging. This generation focuses on an active lifestyle and exploring new interests. Feature local hiking trails, parks, and your community fitness classes on your website and social media. Let them envision living the lifestyle that they crave while in your community. Note that Boomers not done living it up. While some are caregivers and part-time babysitters for...