No doubt, most experienced Los Angeles property managers are upgrading their properties to meet the need of Millennials. In the recent years, it has become clear that this group makes us a significant number of renters. As a property owner, you can upgrade your property and enjoy more patronage from Millennials.
However, you need to be aware of what Millennials are really looking for in a property. Nowadays, Millennials want to see things like smart locks, yoga room, gym room, and more.
One mistake most landlords and Los Angeles property managers make is assuming that upgrading their rental property to suit the need of Millennials is going to cost them a lot of money. In most cases, you can get some of these amenities at really affordable prices. Millennials are not just looking for some amenities; they also want to enjoy the property at a very affordable price. Not everyone can afford a rental property on the high side. This is because Millennials are also struggling to meet with other societal pressures such as getting and maintaining cars, increased school fees, and cost of living.
To make sure you attract more Millennials this season, we would recommend that you follow in the footsteps of top Los Angeles property managers and consider the following factors:
Millennials Want Things Easy
If you want to attract Millennials to your property, you need to ensure that they find living in your property relatively easy. You can only do this when you look at things from the perspective of a prospective tenant.
You need to ensure that you streamline everything – from finding your property to paying their rent, and moving in, you must make sure that your prospective and current tenants find all these processes as easy as possible.
- Provide Basic Amenities
Most tenants in Los Angeles area complained that they find their current property frustrating because of lack of basic amenities. If you are looking forward to attracting Millennials, you need to have basic amenities which include but not limited to a refrigerator, microwave, desk, and laundry room.
Apart from providing these amenities, you need to ensure that they are kept in top working condition. A tenant who finds your property dissatisfying can review a bad rating for you. A bad rating can deter future tenants.
With social media and other means of communication, Millennials are not really looking forward to seeing your letters on their door or expect you to keep on knocking at their door just to pass information.
You can leverage social media and other medium of communication such as email to ensure that your tenants are well-informed. You need to keep them in loop at all times. Not keeping your tenants in the loop can have disastrous consequences. By making use of social media, text messages, emails, and phone call, you can be able to improve your relationship with your tenants. This will also help you improve the efficiency of your business as well as stay compliant.
According to a new research by the American Veterinary Medical Foundation, more than 43 million households owned dogs and over 36 million households owned cats in 2012. This number has since increased. What this means is that Millennials are increasingly adopting pets. To attract more Millennials to your property, you will need to ensure that your property is Pet-Friendly.
Working with Millennials can be fun. Unfortunately, most landlords and Los Angeles property managers don’t have the required experience when it comes to working with Millennials. As a landlord, if you want your business to improve, you should consider working with a Top Los Angeles Property Management Company. This way, you leverage on the new opportunities that abound in the property market.