The generation that comprises nearly 1 out of 3 renter households is Generation X. Generation X, or “Gen X,” is the demographic following the “Baby Boomer” generation. Currently, in their late 30s, 40s, and 50s, Gen X renters are often characterized as active, entrepreneurial, and focused on achieving a work-life balance. People in this generation frequently rent because they are attempting to set aside extra cash or improve their accounts so they can purchase a home. At the same time, Gen X renters are bound to remain in a rental home for more extended periods.
To take advantage of this tendency, there are many strategies that property owners in McDonough can use to draw in Gen X renters to single-family rental homes and encourage them to stay long-term. For example, Gen X individuals were some of the hardest hit during the Great Recession. Many encountered the loss of their homes, jobs, and high credit scores. Property owners willing to look past a credit score and consider references from employers, friends, and former landlords are more likely to draw in Gen X renters.
Other techniques property owners can use to attract and retain Gen X renters incorporate supporting them as their living conditions change and marketing in the right places. While some Gen X residents do end up acquiring their own home, many will keep renting for a considerable length from a property owner who is willing to redesign their rental home regularly and are eager to add to a tenant’s satisfaction and encourage them to stay longer.
To attract Gen X renters, it’s important to advertise in the right places. In spite of the fact that Gen Xers commonly open to looking for available rental homes via web-based networking media and destinations like Zillow, they will likewise check for postings on property management websites, community bulletin boards, and classified ad sites like Craigslist. While Gen X renters are often more ready than younger folks to utilize increasingly conventional methods of communication – by calling a property manager as opposed to looking through their site, for instance – they are additionally alright with and will benefit by a scope of marketing styles.
By utilizing the right strategies, Gen X tenants can be within reach for any property owner. At Real Property Management Anchor, we help owners market to quality renters who are looking for a long-term commitment. We are experts at tenant satisfaction and can help property owners plan ahead to keep their tenants happy and to renew their leases for many years to come. To learn more, contact us or by phone at 678-467-3039 today!