So you want to attract millennials with your apartment amenities?
Millennials catch a lot of slack in popular discourse. It comes from generations before and after them. As our country undergoes big shifts, having a handle on what various generations need and desire is the first step in successful marketing and a thriving business. Here’s some important background on the millennial generation. And, importantly, 5 necessary apartment amenities to attract Millennials in 2022.
The millennial population today is around 72.1 million people. This generation, born between 1985 and 1996, recently passed the boomers and is now the biggest generation to date.
Making sweeping generalizations about a group of people this large can be difficult. Often, stereotypes are very wrong. However, there are trends to consider and integrate into building and management practices of apartment amenities. In doing so, you can make your building an increasingly attractive option. Perfect for Millenials on the hunt for a particular living situation.
For example, millennials are generally better educated than previous generations. They often delay or forgo marriage. Often, this generation leans more to the left than earlier generations. And, due to financial recessions and rising costs of living, Millenials are more likely to have lived with their parents for longer stretches of time and have accumulated less wealth.
And while millennials have gained a reputation for job and apartment hopping, the data says otherwise. This generation is more tech-savvy and often requires their living situation to accommodate these cultural and technological shifts.
Taking all of these factors into consideration, we can better anticipate what millennials need and crave of their apartment amenities. Here are 5 factors to consider.
The best way to attract millennials to apartments is to maintain prices that are competitive and affordable. This is, of course, not a glamorous thing to undertake as a building manager and contractor. At the end of the day, though, for millennials – especially the ones that have spent long stints in their parent’s homes navigating economic recessions – affordability is key.
This means that you want to use amenities in a smart, frugal way that benefits you and your tenants. In-building gyms and laundry, free or affordable parking, and complimentary co-working offices spaces are just a few ideas. Overall, amenities that create affordable living quarters will be the most attractive selling point.
In the unfolding phenomenon of the coronavirus pandemic, more and more workers depend on high-speed internet to conduct their work from home. Even as restrictions lift and workers return to the office, the lay-of-the-land has shifted and apartments that offer the amenity of reliable, efficient internet will certainly grab the attention of abode-hunting millennials.
This can look like providing high-quality internet for an entire building or providing information on what providers work best in your location and building.
Smart lockers are increasingly prevalent in public spaces – libraries, grocery stores, college campuses to name a few. This amenity can be a big draw for Millenials in an apartment environment as well.
Smart lockers are a major upgrade for convenience. This is because smart lockers are secure and available outside of office hours – tenants will love this. With smart lockers, millennials can retrieve their deliverables at various hours, with instantaneous messaging. Whether they use the smart lockers for important professional equipment deliveries or groceries (or both) Millenials are fluent tech users and will appreciate an apartment complex that reflects those values.
Additionally, smart lockers are also an amenity that can blend into a colorful, hip aesthetic. With customizable designs, it’s a smart systems upgrade that can fill in and improve a hip, millennial ambiance.
Green Amenities And Renewable Practices
Ecological responsibility and “green amenities” are of growing importance to tenants and consumers. Millennials and other future generations not only expect but demand that their living situations reflect their values – and sustainability is a biggie.
Green amenities and renewable practices can look a lot of different ways, depending on a building and community context. Possibilities include solar panels, food composting, rain gardens on the property, or even a neighborhood microgrid – a growing trend. Implement the practices that make sense for your building and then use these amenities to attract millennials.
And while green practices are key to attracting millennials, cultivating green spaces for tenants to utilize is another big boon for both individual and collective mental health. This is the kind of thing that Millennials consider when deciding where to call home.
Cameras And Reliable Building Security
Amenities that improve a building’s overall safety and security will definitely attract millennials in 2022. Effective security doesn’t always look one way. Smart lockers are a great amenity to efficiently improve the security of deliverable items while cameras and on-site building managers can also provide security support that Millenial tenants will appreciate.
Again, this sort of amenity will depend greatly on the size of the building and its location. Whatever the case, implement amenities that boost the safety and security of your building and be vocal about communicating that in marketing – Millenials will appreciate it and make their choices accordingly.