Infographics: What Millennials Want in Real Estate

Much has been said about the millennial generation. This group is made up of people born from the early to mid-1980s to the early 2000s. Millennials are in their early adulthood today, and this emerging market has different needs than previous generations. Millennials are officially one of the biggest renting demographics out there today and don’t appear to be rushing to home ownership anytime soon. This generation was hit particularly hard by the recession, so thanks to a sluggish job market, huge student loans and a tighter lending/stricter credit market, millennials are refusing to take on additional debt in the form of a mortgage and are instead choosing to rent. The sheer numbers of millennials seeking great rental accommodations means that landlords who want to attract millennials to their rental properties better pay attention to what these young professionals are looking for in order to beat out the competition. If you can make adjustments to your rental properties that are attractive to millennials, you are more likely to get a larger pool of applicants in that demographic to choose from. The millennial generation matters to the rental market because they are a huge percentage of the current applicants and the trend toward renting over home ownership probably won’t be changing anytime soon. If you can make sure that your rental property is one of those wonderful places that renters of the millennial generation are seeking, you may find that your vacancy issues are far behind you. Access this site: propalliance.com/salt-lake-cit… for more details.