Beyond Basics: Creative Ways to Attract Gen Z Renters
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Beyond Basics: Creative Ways to Attract Gen Z Renters

Property Management

Gen Z, the successors of the Millennials, are starting to take over and shape the world and our future. According to a recent statistic, Gen Zs are projected to take up one-third of the workforce. Next to Millennials, they are the second biggest group, and expected to dominate the labor force by the end of the decade.

The members of this socially aware and purpose-driven generation are growing up and looking for a place to establish their independence and individuality. According to last year's news report, Gen Z surpassed Millennials as the largest population of renters for the year, with 42% of commercial real estate sales coming from this group.

Marketing to Gen Z is a wise move if you're looking to fill the vacancies in your apartment and boost your revenue. However, targeting Gen Z renters can be challenging for landlords, so here are some best ways to attract new renters to your property.

Who Are the Gen Z Renters?

"Gen Z" is a term used for individuals born between 1997 and 2010 collectively. As of writing, Gen Zs are around 13 to 26 years old.

Gen Zs are known for being tech-savvy and socially conscious, with a focus on sustainability and ethical decision-making. In fact, around 44% of Gen Zs mentioned climate change as one of their biggest fears.

Gen Zs are also more racially and ethnically diverse than their older counterparts. They're expected to be the most diverse generation yet, with nearly half of Gen Z identifying as part of a minority group.

With their technological nativity and a strong sense of social responsibility, Gen Zs are anticipated to be the "best-educated" generation yet.

As Gen Zs increasingly transition to adulthood, many are starting to look for a place to settle. Although most are still too young to afford their apartments, they are expected to take over the real estate market and become the biggest renters in a few years.

Preparing your place to be "Gen Z-friendly" is the best way to prepare for this transition.

How to Market Apartments to Gen Z

You don't need to transform your property completely to turn it into "Gen Z apartments." All you have to do is make slight adjustments and be strategic with your approach. Here are some tips to help you market to this generation:

Make Your Presence Known on Social Media

Engaging Gen Z, a generation of digital natives, requires a strategic approach to online presence and marketing. Leverage the power of social media platforms like Instagram, Facebook, TikTok, and Twitter to reach and captivate potential renters.

Craft a compelling profile that showcases your property's unique features and amenities. Regularly update your social media pages to keep followers informed about the latest happenings on your property, and share local events to attract prospective renters.

Seamlessly integrate current trends, viral topics, and relevant conversations into your posts to enhance social media engagement. However, authenticity is key, as Gen Zs are averse to "forced" marketing. Ensure your content feels genuine and organic to create a connection with your target audience.

Provide High Speed and Reliable Internet

Being the initial generation to experience constant internet access, Gen Z relies heavily on it for their daily routines. High-speed internet is considered a fundamental requirement for them, and they have little tolerance for slow or unreliable connections.

When promoting your property to Gen Z, providing a fast and stable internet connection can be a significant advantage. It's a simple yet effective strategy to appeal to this tech-savvy demographic. Ensure to substantiate your claims by offering evidence of your internet speed and reliability before they decide to move in.

Build an Inclusive Community

Gen Z stands out as the most socially conscious generation, valuing the unique identity of each community member. To create an inviting environment for potential renters, establish a safe space that embraces inclusivity in activities and events.

Forge partnerships with local businesses, organizations, and charities to showcase your property's commitment to making a positive impact. Gen Z is inclined to rent from landlords who actively contribute to the community and demonstrate social responsibility.

There's also the potential for them to endorse your rental property on their social media platforms, providing valuable word-of-mouth marketing at no cost.

However, it's crucial to ensure that your actions reflect genuine intentions and are not merely token gestures toward diversity. Gen Z has a keen eye for authenticity and will readily identify and criticize any insincerity in your approach.

Highlight Your Amenities

Similar to preceding generations, Gen Z seeks convenience and comfort. Drawing their attention can be effectively achieved by emphasizing your property's amenities.

Emphasize sustainability aspects, such as energy-efficient appliances, the use of renewable materials in construction or interior design, and the promotion of eco-friendly practices like recycling and composting. This not only provides renters with a glimpse into the lifestyle your property offers but also communicates your environmental consciousness.

Additionally, spotlight distinctive amenities like community gardens, sports courts, and pet wash stations to appeal to renters in search of unique offerings.

Build Coworking Spaces

A significant number of Gen Z individuals engage in remote work or operate under flexible work arrangements. Establishing a shared workspace is a compelling strategy to appeal to this demographic.

Coworking spaces offer the advantages of working from home coupled with opportunities for socializing, networking, and forming connections with fellow residents. It presents an effective avenue for Gen Z individuals to maintain productivity while engaging with others in a supportive setting.

Introducing a coworking space not only adds an appealing amenity but also positions your property as a contemporary lifestyle choice for potential renters.

Leverage Technology to Your Advantage

While it might entail a substantial initial investment, utilizing technology to appeal to Gen Z renters for your apartment is a worthwhile endeavor.

Consider investing in cutting-edge technology, such as smart home features, remotely controlled appliances, thermostats, and voice-activated devices. Given that Gen Z has grown up with constant access to the latest tech innovations, offering them modern, tech-enabled homes is an effective way to capture their interest.

Additionally, showcase how you harness technology to streamline the management of your rental property, utilizing property management software. Demonstrating proficiency in technology provides potential renters with assurance that their rental experience will be seamless and well-organized.

Make Your Unit Pet-friendly

A considerable number of Gen Z individuals are pet owners, emphasizing the importance of making your property suitable for animals of diverse breeds and sizes. This involves offering treats and toys, designating play areas for pets, accommodating various dog breeds, and encouraging regular vet visits.

Welcoming pets into your rental units opens the door to attracting renters who may have faced rejection from other properties due to their furry companions.

Implementing pet-friendly policies not only indicates that you are a considerate landlord who prioritizes the well-being of tenants and their pets but also provides a competitive advantage over other rental options.

Final Thoughts

Adapting to fast-changing times is how strong businesses and properties survive. As our time and society change and evolve, you must adjust your marketing strategies to capture the attention of newer generations like Gen Z.

By focusing on social responsibility, convenient amenities, tech-enabled features, and pet-friendly policies, you can ensure that your property stands out as an attractive option for them.

Growing your business is a challenging task, but with the help of the right tools, you can stay on top of the competition.

Maximize the potential of your property with ExactEstate, an all-in-one property management software to streamline your rental process, from lead generation to tenant onboarding. Schedule your demo today!

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