What Millennials Want When Renting

It’s no surprise that a lot of millennials embrace rental living. Always on the go for different career pursuits and personal adventures, they get to live wherever they want and move whenever they need. They love to travel, so it’s a huge plus to have a landlord cover the maintenance and repairs of the property. Finally, the cost of renting frees up more room in the budget for travel savings. But while some millennials prefer renting over buying a home, they are very particular about the property they choose.

As real estate brokers, it’s important to recognize these specific preferences, so you can market your rental properties better. Here’s what millennials want when renting:

Online Information

A tech-savvy generation, millennials start their search for properties online. With the threat of the pandemic still looming, they will likely turn to their mobile phones to find their next home. This is why it’s important to be visible on the digital space. Real estate marketplaces such as Lamudi appear first on Google when someone searches for properties for rent, so you’ll be getting a lot of views when you put your rentals here. 

Lamudi also has an ongoing offer, which allows you to post unlimited rental listings for a competitive price. With the Unli Rental Listings Promo, you can give your rentals the online exposure they need and get access to Lamudi’s Agent Portal and Lead Management Tool, which will help you better serve clients. 

When listing on Lamudi, follow these guidelines to have all your listings approved. 

Eco-Friendly Homes

Millennials are extremely conscious of their environmental impact. Sustainability is more than a buzzword to them. It’s something they strive hard to live by, even in their choice of a home. A rental property that has eco-friendly features is highly appealing to them. If you have one in your portfolio, show them off. If possible, include in your listing how much renters can save in utility bills for the solar panel and rainwater harvesting systems in their house or condo building. 

The location of the rental home matters, too. Millennials prefer being near public transportation and essential establishments not only to experience convenience but also to avoid using cars, thus helping lower carbon emissions. On Lamudi, there’s a map feature in listings, so you can easily show property seekers where your rental home is. 

Pet-Friendly Policies, Plant-Friendly Spaces

Most millennials are pet owners and plant parents. They seek companionship in their furry babies. They love bringing nature indoors, decorating their spaces with all kinds of greenery and blooms while experiencing the convenience of picking fruits and herbs from their garden. For this reason, residential communities that allow pets and feature gardens or balconies are popular among this renting generation. 

In the same way you’re highlighting eco-friendly features in your rental property, don’t neglect pet-friendly policies and plant-friendly spaces. When listing on Lamudi, you may include the pet-friendly description on the listing title and use high-quality pictures of outdoor spaces in the property. 

Digital Payments

Technology is a big part of the millennial lifestyle. Not only do they use it for property search, but also for rental transactions. Ditching the long queues in physical banks, they use online banking and mobile wallets to pay for deposits, advance, and the actual monthly rent. If your client-landlord allows these payment schemes, mention this on the listings. On Lamudi, you can include it in the description section. There’s also a payment scheme portion, where you can indicate if it’s daily or monthly.

If your client hasn’t adopted digital payments yet, encourage them to do so. Amid the pandemic, most renters, not only millennials, are keen on contactless payments for safety. It’s part of the new normal now. They’ll be lagging behind if they don’t adapt to the times.

There’s a huge pool of potential renters in the millennial generation. Learn their preferences so you can make your rental properties more appealing to them. Don’t miss Lamudi’s special, limited-time offers for rental listings. With the Unli Rental Listings Promo, you can post all your properties in the digital space, visible for every seeker.

Visit https://bit.ly/UnliRentalListingRegistration to know more.


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