With its vibrant culture, nightlife, food scene, and dating scene, Chicago is massively appealing to young people. In fact, Forbes magazine listed Chicago as the fourth-best city for millennials in April 2016. With a wide variety of neighborhoods and social scenes to pick from, young people will be looking for differentiators when deciding where to rent. Therefore, it is essential that you make your property an appealing and exciting place for them to rent out.
These are a couple of ways you can appeal to millennials or younger folks as a property manager:
Do not underestimate the power of the internet
Back in the day, people heard about open listings by word of mouth or through newspapers. Nowadays, young people immediately flock to the internet for all their needs, including finding housing. By building a chic, modern, and engaging online presence, your property will stick out to them and appeal to them significantly more, which will put you at a significant advantage over other property owners.
However, it is vital that your online presence accurately communicates the appeal of the property online. Make sure that your images showcase your property’s beauty by taking high-resolution, clear, and bright pictures. It should be easy to look at and admire, and it should be just as easy for them to find your contact information. If you need additional feedback, ask a fresh pair of eyes to look over your website and tell you the first thing they see. This will give you a good idea of what appeals to the eye and what you can further work on to communicate the appeal fully. Remember, your online presence should be instantly captivating and aesthetically pleasing.
Location is key
Young people will evaluate not only the space that you show them, but also its proximity to interesting and engaging hubs of activity. If your property is close to a popular area, make sure you do not neglect to tell them all about it. Understand that this will play a significant role in where they ultimately decide to live, and so make sure that your place looks as appealing as possible in this sense. Provide a map of nearby attractions and social hotspots for easy access, or tell them all about the neighborhood when they visit the property. If you live in an area that is farther from these hotspots, make sure you communicate the public transportation that is available nearby or possibly the benefits of living in a quiet neighborhood. Whatever you do, make sure you address the location as one of the crucial details about your property.
Offer cutting-edge technology
Young people love to feel like they are on the edge of innovation. Young people want to feel like their home environment fits their quest for whatever is modern and exciting. With relatively inexpensive smart home features on the market, it is easier than ever to make your property appeal to young people. Whether it is adding smart locks to the doors, adding speakers to the rooms, including a special mini-fridge, or adding smart TV’s to the property, any addition of smart technology will likely go a long way in differentiating your property from all the rest. Young people will see this technology and be attracted to the rest of the property since they will perceive it as more modern and exciting.
No matter what you choose to do to make your property appealing to young people, it is best to keep their needs and desires in mind. Essentially, it is crucial to “know your audience”. The more you understand what appeals to younger generations, the more success you will have when renting out to that demographic.
At PMI Chi-Town, our team of experts understands the evolving needs and desires of young people. For a highly experienced, professional team of property managers that will appeal to your target demographic’s needs, give us a call. We understand that when your tenants are happy, you are happy, and we want to make sure you get the best return on your investment property.