What is The Millennial Looking For in a Rental Property
If you are looking to rent out your property, it is worth your while investing some time working out what it is that millennials are after in a home, and how you can target them. The reason behind this is that millennials are the most populous renters right now, and they have certain specifications which you can play to, in order to get you property rented out quickly.
Last year I was quite new to the property rental game and I had to do quite a bit of research to make my properties attractive to the right people, and to make sure I had all of the details down, landlord insurance for example, I had no idea about that until I checked out Homelet’s brilliant website, homelet.co.uk/landlord-insurance, which gave me all the details that I needed. Once the insurance and the details were sorted, I read up on the #millennialrenting campaign, to find out what it was that these young men and women are after. If you are looking to rent your property out, here are some tips on attracting the millennial market.
Millennials are most certainly a tech savvy generation and many of them are looking for a home which they can control with their fingertips. If this concept is new to you, you must read up on how to make you home digital, so that appliances can be controlled directly from a smartphone. You can control your heating, the electricity, power points, water, televisions and even the lights, directly from the phone if you have the right kit, and millennials love it.
A central location is something which many millennials say that they would prefer, with many of them willing to put above market value, in order to get the location which they prefer. Naturally you cannot move your property if it is not in a central location but if you are looking to buy to rent, keep that in mind.
A recent study found that more than 70% of millennials looking to rent, also own pets, which means that you really should think about ensuring that your rental is pet friendly. Landlords think that allowing pets into the property is a problem but as long as you can lay down some solid ground rules, allowing pets can really increase your chances of renting the property out.
The millennial generation is the greenest and most eco-conscious yet, and you would do well to add some green features to your home in order to make it more desirable. If you have a property which uses recycle bins or even a property which has solar panels on the roof, you can ensure that far more of the younger generation will be endeared to you property. Making your property that little bit greener can be great for the environment, and ensure that you have plenty of interest when the time comes to rent it out.
Make your home attractive to millennials and you won’t have any issues in renting it out.