While the article referenced here was written for apartment complex owners, single family rental homeowners can benefit from the information as well. This is particularly true if you’re renting homes in proximity to colleges or computer/software companies that hire younger employees.
1. Others their own age – this is easier in an apartment complex environment, however purchasing rental properties in areas with a concentration of younger people can be a good approach if that’s your tenant demographic.
2. Bars & entertainment – whether it’s bars, pool halls, dance clubs or other entertainment spots, this age group like to socialize and want to gather at fun spots to do it. Restaurants work, but aren’t as popular unless they have bar spaces where ordering a full meal isn’t required.
3. More space – things are bigger these days, like big screen TVs, video game systems, larger beds and computer desks. Especially when roommates are involved, more space is necessary for everybody’s belongings. Large closets are also in demand.
4. Noise – this may seem odd, but the fact is that this age group is pretty noisy with their friends, parties, online gaming and other activities. They don’t want to live in a area where older residents will complain or call the police about noisy behavior.
5. Close to work or school – this isn’t as important as the other desires, but it’s a bonus if their commute to work or school isn’t a long one. They’ll give this requirement up however, if they can get the other four.
Having most or all of these things going for your rental property is great, but success depends on marketing. Get the word out about your property’s features in places and media frequented by this age group, including school bulletin boards. Word of mouth will help, and using social media like Facebook and Google+ can be a great marketing tool, as they can share your marketing with friends easily.
While the article referenced here was written for apartment complex owners, single family rental homeowners can benefit from the information as well. This is particularly true if you’re renting homes in proximity to colleges or computer/software companies that hire younger employees.
1. Others their own age – this is easier in an apartment complex environment, however purchasing rental properties in areas with a concentration of younger people can be a good approach if that’s your tenant demographic.
2. Bars & entertainment – whether it’s bars, pool halls, dance clubs or other entertainment spots, this age group like to socialize and want to gather at fun spots to do it. Restaurants work, but aren’t as popular unless they have bar spaces where ordering a full meal isn’t required.
3. More space – things are bigger these days, like big screen TVs, video game systems, larger beds and computer desks. Especially when roommates are involved, more space is necessary for everybody’s belongings. Large closets are also in demand.
4. Noise – this may seem odd, but the fact is that this age group is pretty noisy with their friends, parties, online gaming and other activities. They don’t want to live in a area where older residents will complain or call the police about noisy behavior.
5. Close to work or school – this isn’t as important as the other desires, but it’s a bonus if their commute to work or school isn’t a long one. They’ll give this requirement up however, if they can get the other four.
Having most or all of these things going for your rental property is great, but success depends on marketing. Get the word out about your property’s features in places and media frequented by this age group, including school bulletin boards. Word of mouth will help, and using social media like Facebook and Google+ can be a great marketing tool, as they can share your marketing with friends easily.