Everybody knows that the key to short vacancies is recognizing your target demographic. There are notable differences between generations of renters because of the striking differences amongst the eras too. To be effective in drawing and retaining long-term renters in Council Bluffs, it’s vital to know and understand these differences.
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 prefer to rent because they are saving their money or are trying to enhance their finances so they can purchase their own homes. At the same time, Gen X renters are more likely to continue renting for an extended period.
To make the most out of this trend, there are a couple of proven of methods that property owners in Council Bluffs can practice to entice Gen X renters to single-family rental homes and encourage them to remain for a longer time. For example, Gen X individuals were some of those who were hit the hardest during the Great Recession. A lot of these individuals endured the loss of their homes, jobs, and high credit scores. Property owners eager to look past a credit score and consider references from employers, friends, and former landlords are more likely to bring in Gen X renters.
Other methodologies that property owners can apply to attract and retain Gen X renters consist of supporting them as their life circumstances change and marketing in the right places. Though some Gen X residents do end up purchasing their own home, many will remain to rent for years to come from a property owner who is prepared to upgrade their rental home consistently and are willing to contribute to a tenant’s satisfaction and encourage them to stay longer.
To attract Gen X renters, it’s significant to promote in the right places. Though Gen Xers are okay with searching for available rental homes on social media platforms and websites like Zillow, they will also screen listings on property management websites, community bulletin boards, and classified ad sites like Craigslist. Even though Gen X renters are typically more willing than younger folks to take advantage of more conventional modes of communication – by calling a property manager instead of searching their website, for example – they are also okay with the idea and will eventually benefit from a number of marketing platforms.
By employing the right strategies, Gen X tenants can be within reach for any property owner. At Real Property Management Legacy, we help owners market to quality renters who are seeking a long-term commitment. We are experts at tenant satisfaction and can help property owners plan to keep their tenants happy and renewing their leases for many years to come. To learn more, contact us or by phone at 402-905-0459 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.