There are not a lot of issues that have captivated an audience in modern years more than the aging of the generation born at the end of World War II. At the same time, these “Baby Boomers” comprise a massive section of the population, prompting a surprising level of influence in the American community. As the Baby Boomer generation reaches retirement age and beyond, they have also become one of the fastest-growing groups of renters. In the Baytown home market and above, they are a force to be reckoned with.
Fascinating and containing Baby Boomer renters involves a marvelous appreciation of their desires and leanings, alongside the qualities that depict this generation. For example, Baby Boomers are one of the most affluent generations to date, indulging in post-war abundance and an affinity for leisure activities. For property owners, these attributes provide a look at the most potent methods for promoting a property, alluring retiree renters, and stimulating social amusement.
Advertising to the Baby Boomer generation necessitates a combination of ideas. Many Baby Boomers appreciate operating online resources to hunt for rental homes, pay rent, and implement smart home features. They will additionally often use the internet and websites like Zillow to procure rental properties. At the same time, however, Baby Boomers are more likely than other generational groups to use offline methods for finding a rental home. “For Rent” signs, local bulletin boards, and recommendations from friends are all a common means of gathering information for this demographic. As such, tempting Baby Boomer renters must be accomplished with both online and offline systems.
Industry experts assume Baby Boomers are renting at increasing rates because they don’t want a mortgage payment or the weight of home maintenance once they stop working. For Baytown property owners, this means that a good strategy to attract and retain Baby Boomer renters is to offer more services, such as yard maintenance or house cleaning. Many tenants in this demographic are agreeable to pay a bigger rent if it includes some of the more labor-exacting home maintenance duties.
When renting homes long-term to a maturing demographic, it is also imperative to predict the demand for adequate updates to the home. Property owners can be intuitive in some ways by building accessible doorways, ramps, and grab bars. While some remodeling will be tenant-specific, many aging renters will thrive from a higher standard of accessibility in a rental home and value an owner’s endeavor to foresee their current or future needs.
Property owners can equally lure and retain Baby Boomer renters by creating gathering spaces on or near their rental home. Social leisure is necessary to renters of any age, but retirees normally need to meet with relatives and friends. A beautiful kitchen, updated patio, or other gathering space can go a long way toward keeping a long-term tenant satisfied.
When Baby Boomers rent a home, they are usually hunting for a place they could see themselves settling in for a very long time to come. Baytown property owners can enhance their rental homes by focusing on features and amenities that are attractive to this demographic and making their everlasting contentedness a priority. At Real Property Management Avitus we understand how important tenant retention is, and how to effectively appeal to the owner’s desired demographic. We can support property owners keep their vacancies low and their tenants thrilled with the level of aid and consideration they receive. To learn how we can help, or if you have additional questions, contact us online or by phone at 281-570-6357 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.
