Millennials, young adults born between 1982 and 2004, will soon be overtaking Baby Boomers as the dominant generation in the United States economy. Individuals in this age range are flocking to core cities in major metro urban areas to chase new career opportunities after graduating.
This is an exciting opportunity for realtors and landlords that want to start marketing rental properties in large cities to Millennials. Because Millennials are migrating to major metropolitan areas at such a rapid rate, that positions them as the biggest potential renter population in the country!
Here are 5 essential tips for realtors marketing rental properties to Millennials:
Marketing Rental Properties to Millennials Requires Visuals
New media, such as Facebook, LinkedIn, and social video platforms have placed a massive emphasis on visual learning in our culture. Realtors marketing rentals to Millennials should focus on providing an in-depth visual experience when listing rental properties and promoting them on social media.
When gathering visual content for your rental property listings, be sure to select pictures that emphasize desirable features of the space. These could include attractive features like a renovated bathroom, spacious living room, or walk-in closet. Offering an abundance of visuals will translate well to social media savvy young adults and will allow them to get a feel of the property before visiting in person.
Focus on Value
In any sales-intensive environment, you want to convince your customer they are receiving a good value when making a decision to purchase or rent something. This is no different when marketing your rental properties.
When presenting an apartment, condo, or rental home to Millennial tenants, be sure that you emphasize the value of the property. Keep in mind that many of these individuals may be working on entry-level salaries and are looking for nice places for a reasonable price. Emphasize quality, but also be sure to focus on value-based features the property may offer like heat and water included with rent, free on-site maintenance, etc.
Location, Location, Location
As mentioned previously, Millennials are flocking to urban areas for career opportunities. This presents a prime opportunity for realtors seeking to market rentals. Take the time to familiarize yourself with the fastest routes to and from major urban hubs close to your properties and be prepared to answer questions that your potential tenants may have regarding public transportation, good places to eat and shop, and other nearby points of interest.
Be Active on Social Media
According to Pew Research Center, 88% of adults ages 18-29 and 78% of adults ages 30-49 in the United States use at least one social media site. Platforms like Facebook and LinkedIn also have built-in messaging capabilities that make them one-stop solutions for communicating with potential tenants for your rental properties.
Whether you’re posting manually or setting up automated posts through solutions like Post Café, be sure to monitor your content for engagement and audience response. Invite followers to message you directly on the social platform and use these conversations to answer questions, initiate property showings, and stay in touch with leads. Turning social media engagements into leads can be as simple as the hit of a send button.
Start Marketing Rental Properties to Millennials
Millennials are shaking up the rental market as they flock to the big cities to chase big career aspirations. This presents realtors with a great opportunity to position rental properties in front of these young professionals with the power of engaging social media strategy. Learn more about how Post Café can help you stay relevant on social media and get your message in front of past, current and future clients by giving us a call at 732-218-9377.
