The key to short vacancies is understanding your target demographic. Each generation is diverse as the eras are likewise diverse. So, to draw and retain long-term renters in Brewer effectively; it’s wise to teach yourself how every generation contrast from another.
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 typically rent since they are attempting to set aside some cash or improve their accounts with the ultimate goal of eventually buying their own homes. At the same time, Gen X renters are more likely to stay in a rental home for extended terms.
To make the most on these predominant tendencies, there are a couple of stratagems that property owners in Brewer can apply to draw in Gen X renters to single-family rental homes and encourage them to stay long-term. For example, Gen X individuals were some of the hardest hit during the Great Recession. Many went through a time where they experienced loss of their homes, jobs, and high credit scores. Property owners that are willing to look past a credit score and consider references from employers, friends, and former landlords are bound to attract Gen X renters.
Other methods property owners can apply to draw in and retain Gen X renters incorporates the act of supporting them as their lives change as well as advertising in the right areas. While some Gen X residents end up purchasing their own homes in the long run, many will keep on renting for a considerable length of time from a property owner who is happy to update their rental home regularly and are eager to provide for a tenant’s satisfaction just to help them decide to stay longer.
To attract Gen X renters, it’s critical to promote in key areas. In spite of the fact that Gen Xers are content with hunting down available rental homes via web-based networking media and sites like Zillow, they will likewise check for postings on property management websites, community bulletin boards, and classified ad sites like Craigslist. While Gen X renters are often more willing than younger folks to utilize progressively conventional methods of correspondence – by calling a property supervisor as opposed to looking through their site, for instance – they are also comfortable with and will benefit from a range of marketing platforms.
By utilizing the correct techniques, Gen X tenants can be within reach for any property owner. At Real Property Management Acadia, we help owners market to quality renters who are seeking a long-term commitment. We are specialists 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 207-561-7482 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.
