There’s not a lot of issues that can enthrall a crowd, however, as of late, it is abuzz with respect to the aging of the generation born after World War II or the “Baby Boomers.” These individuals comprise a bigger than usual segment of the population, provoking an astonishing level of effect on American culture. As the Baby Boomer generation reaches retirement age and beyond, they have also become one of the fastest-growing groups of renters. In the McDonough home market and beyond, they are a force to be reckoned with.
Drawing in and retaining Baby Boomer renters requires a good grasp of their needs and tendencies, just as the features that portray this generation. For example, Baby Boomers are one of the most affluent generations to date, indulging in post-war abundance and an affinity for leisure activities. For property owners, these attributes offer a look at the best procedures for advertising a property, appealing to retiree renters, and empowering social activity.
Promoting to the Baby Boomer generation needs a mixed approach. Many Baby Boomers like surfing websites to search for rental homes, pay rent, and use smart home features. They will likewise use the internet and sites like Zillow to find rental properties as often as possible. At the same time, however, Baby Boomers are more likely than other generational groups to use offline methods for finding a rental home. “’ For Rent” signs, local bulletin boards, and recommendations from friends are all a common means of gathering information for this demographic. For this reason, attracting Baby Boomer renters must be done with both online and offline techniques.
One of the reasons industry experts think Baby Boomers are renting at increasing rates is based on the concept that they don’t wish to pay a mortgage or deal with the bulk of home maintenance once they retire. For McDonough property owners, this means that a good strategy to attract and retain Baby Boomer renters is to offer more services, such as yard maintenance or house cleaning. Many renters in this demographic are higher to pay a higher rent if it incorporates some of the more labor-intensive home maintenance errands.
When renting homes long-term to an aging demographic, it is likewise crucial to anticipate demands for appropriate amendments. Property owners can get ahead such requests by making accessible doorways, ramps, and grab bars. While some adjustments will be tenant-specific, many aging renters could use a higher level of accessibility in a rental home and will value an owner’s effort to anticipate their current or future needs.
Property owners can similarly attract and retain Baby Boomer renters by having gathering spaces on or near their rental home. Social activity is good for renters of any age, but then again retirees often prefer homes that will give them the capability to gather with family and friends. A beautiful kitchen, updated patio, or other gathering space can go a long way toward keeping a long-term tenant satisfied.
When Baby Boomers rent a home, they are often searching for a place they could picture themselves staying in for many years to come. McDonough property owners can enhance their rental homes by presenting amenities and services that entice this demographic and making their enduring gratification a priority. At Real Property Management Anchor, we understand how indispensable tenant retention is, and how to attract to the owner’s desired demographic effectively. We can help property owners keep their vacancies low and their tenants pleased with the level of service and care they receive. To learn how we can help, or if you have additional questions, contact us online or by phone at 678-467-3039 today.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
