What Today’s Renters are Looking For

Dec 3

Written by: THE CABOT GROUP
12/3/2012 1:42 PM  RssIcon

Submitted by L. Phair
What was a trend in apartment living 20 years ago is not necessarily the same for today’s renter.  Besides a great price and beyond updated amenities and a convenient commute to work, a renter’s wants and needs are ever changing.  Here are just a few of the 2012 trends today’s renters are shopping for:

•    Pay Rent Online – Who uses a checkbook anymore?  More and more bills are paid via the internet – especially by the Gen Y renters. Why not pay your rent this way too? Make paying the monthly rent easy by giving renters the option to pay their rent electronically.  Paper bills and payments are becoming a thing of the past.  Today’s renter will also appreciate having the ability to submit a service request on-line.

•    Green Lifestyle – Today’s renters are more concerned about the environment than they were twenty years ago.  Although adding green features sometimes equates to increased costs, renters are more likely to adopt green methods to promote a healthy living lifestyle.  Offer green features such as energy-efficient appliances, LED lighting, access to recycling and xeriscape landscaping that requires little irrigation - show renters you support conservation.  These are all good for the environment and help reduce energy costs.      

•    Staying Connected – Landlines are becoming a thing of the past too.  Today’s renter won’t need a phone jack to stay connected to friends and family; they will be using their smartphones and computers. Your apartment homes should be equipped for high-speed internet service and provide Wi-Fi in your amenity areas to keep today’s renter connected.  Renters want strong cell and data service in their apartment homes.  Add an extra amenity within the apartment home that your renter will just love – an electrical outlet combo USB charger receptacle.

•    Useful Space – A survey found that people would opt for a smaller apartment today versus a bigger one if they could reside in a neighborhood that offered convenient access to stores, restaurants and transportation. Today’s renter views their neighborhood as an extension of their home.  20 years ago formal living rooms and dining rooms were a must, today’s renter is looking for functional space, caring less about formal living and dining space and more about flexible space laid out efficiently – and don’t forget storage.  Market your communities’ lifestyle and walkability to today’s renter rather than the apartment’s square footage.

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