Plenty of millennials
have decided to rent for almost their entire lives, some even going as
far as buying investment properties over buying a house for themselves.
Plenty of young buyers opt to buy investments suited to tenants and
continue to rent themselves to maximise their first purchase. Some
millennials have given up on the property market entirely and have
decided to invest in other endeavours. This is great news if you’re
already a landlord: the emerging market for you is the millennial! Here’s how to please your new, younger demographic:
Be a bit more relaxed with the rules
If you want your young tenants to stay long term, then it’s best to
give them options to make your house their home. If they want to hang
art on the walls, prepare the walls with hooks or oblige them when they
ask if they can hang their favourite pieces. If that’s too much, then
suggest temporary hooks that they can remove when they leave. Also,
consider accepting young tenants with pets if they apply with one: many
millennials who plan on renting for several decades don’t want to wait
to get a fluffy family member. So, being relaxed with pets will
definitely get you some brownie points with young renters.
Have the extras
Gone are the days of settling for the bare necessities, if
millennials are looking for a long-term home, they want the lot. Things
like air con, outdoor entertaining areas, and energy saving features are
a big plus to young tenants and they’ll be more likely to rent from you
long-term if you offer these extras. With internet searching being the
dominant way to advertise rental properties, it’s very easy to compare
all the available homes and calculate which property has more value for
money. The best outcome you as a landlord could hope for is great
tenants who will stay in the property for several years. To achieve
that, consider re-vamping your property to cater to the emerging market
in the rental industry.
Prepare your online listings
We all know that millennials are very tech-reliant and are used to
high-quality websites. That means that you can no longer get away with a
bare-bones approach to online listings. Previously, your property
manager could upload amateur photos with a minimal description online
and your home would get rented. But millennials are less likely to apply
for a rental property if the photos are sub-par and the specifics are
not included there. If you invest in quality photos by a professional
real estate photographer and provide as much detail about the features
your property offers as possible, you’re more likely to peak younger
applicants’ interest. The best part is you only have to bare this
expense once – you can save your new photos for the next time you have
to list your rental property.
Life
Begins At Magazine is the ultimate lifestyle magazine
for the young, sprightly and active over 50 and retirees. Featuring daily news,
celebrity interviews, travel adventures and lifestyle tips and hints from our
rotating experts. It has also feature health and well-being to pets and
finance.
For
more information about 5 expert tips for securing the right tenant visit the site : https://www.lifebeginsat.com.au
No comments:
Post a Comment