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A significant number of today’s real estate decisions, as well as those connected to the workplace, are made by people under the age of 40. From our experience here on the Biz Dev team at hOM, attracting premium tenants and avoiding costly turnover is a top priority for property managers and landowners.
Landlords have the power to place high-quality tenants in their properties and avoid costly turnover. Here are Top 3 Amenities which will be sure to impress the young Millennial renters:
Walkability has health, environmental, and economic benefits. Millennials measure their next potential apartment by how friendly an area is to walk.
Are there coffee shops nearby?
How close is the nearest grocery store?
Walkability also creates community and is associated with higher level of arts and creativity.
There are plenty of websites to understand the walkability score. Here’s one that is friendly to use: https://www.walkscore.com.
To better understand How Walk Score works check out this site: https://www.redfin.com/how-walk-score-works.
On-site fitness classes
One of the biggest health and fitness trends for this year is group training or group fitness classes.
Millennials are continually trying to find ways to make their life more convenient. Similar to walkability, millennials are trying to find convenience in staying healthy and simple ways to create community.
Developers are now designing Yoga Studio rooms into the fitness centers in high-rise buildings. But group fitness classes can take place in lobbies, vacant units, or any underused space.
Instagram Worthy Experiences
Social Media is here to stay and millennials are constantly trying to share the cool lives they live.
When the cool experiences are conveniently located as an amenity to where they live, millennial's will be sure to hashtag, Instagram Story, and tag their exact location (aka the cool new apartment building they live in).
Want to see some of the tenant data we’ve gathered?
Comment below or send us an email! We’ll be happy to share.