As the last of the Millennials transition into adulthood, they have firmly cemented their way into every retail market. Realizing the Millennial value, more and more retailers are adapting to their needs, which are very different from the needs of the baby boomers who birthed them, as well as their predecessors, Generation X. Property owners who want to attract Millennial renters need to understand what they are looking for and how to adapt.
Pets are very important to the Millennial generation, with over 76% owning cats or dogs. Rentals that can accommodate furry friends will be a big selling point. With the ease of googling recipes and the Food Network a mere click away, 61% of Millennials enjoy cooking and they are dining out less than before. A tiny, outdated kitchen could be a total turn-off for more than half of this generation. 22% of Millennials have never written a physical check, so make sure online payment options are available. Aside from making payments online, Millennials rely heavily on the ratings and reviews, so make sure your online reputation is upstanding. See 6 more things you should know about how Millennials inhabit their spaces happily in the infographic below by Appfolio.
