Landlords with homes in suburban areas will benefit by understanding the needs and desires of the young Millenial renting families. Millennials love urban life, but often move to suburban areas when they begin growing their families. Landlords can take note of this and this demographic’s needs. While staying within the bounds of the Fair Housing Act, landlords can still offer amenities that appeal to these demographics.
Make sure that in your advertising you highlight amenities interesting to this group. Are there good schools nearby? What about parks? Family-friendly entertainment? Remember, just because these Millennials have moved out of the city doesn’t mean they don’t still desire a walkable neighborhood and accessibility. Plus, they are looking for energy efficiency.
Also, keep in mind that Millennials tend to search for places where their pets are welcome. You might as well indulge them because as more people are given prescriptions for animals, you will probably end up with an animal in the home regardless. Plus, plenty of well-employed, ultra-clean millennials will pass on a home for rent that won’t allow their pets. You probably also know that there are ample tenants who will merely try to hide their pets until they move out knowing it will cost them their security deposit. Unfortunately, courteous, responsible pet owners will see your policy and then pass on your home for rent while less courteous, less responsible pet owners will take their place.
How To Market Your Millennial-Friendly Home
Make sure that you feature your rental on the Facebook market place, because plenty of young parents check Facebook marketplace for rental homes in the suburbs, and if they can’t find anything there, they search the marketplace for a nearby town before ever checking the newspaper. Also, get a page on your website devoted to each rental home you own. Add in a video tour and plenty of photos. Remember to highlight the amenities Millennials love.
Amenities Millennial Tenants Love
You can find more details on appealing to Millennials in past posts. In summary, Millennial tenants love these amenities and privileges:
Are You Looking for a Hard Money Loan to Flip a House Or Buy A Rental Property?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.