Did you know? Nearly 80 Million Gen Y renters are estimated to hit the market in the near future. Property Managers should plan to make the necessary changes to attract these renters. Investing in the right upgrades and amenities now can translate into Gen Y-ers signing leases for your properties later. J Turner Research surveyed renters to find out which key elements affected their choice of rental properties. Flip through these slides to see the survey results so you can learn how you can prepare for attracting the Gen Y renters.

1. A NEW LEASE ON
MILLENNIALS
How Can You
At t r a c t M o r e
Gen Y Renters?
Nearly 80 MILLION Gen Y renters are estimated to hit the market in the near future. And as
developers scramble to accommodate this highly informed and technologically advanced bunch,
property managers should also make the changes necessary to attract these renters. Investing
in the right technology and amenities now can translate into Gen Y-ers signing leases for your
properties later. We take a look at what you need to do to appeal to these millennials.

2. WHO IS THE GEN Y RENTER?
BORN IN
1982 - 1995
25% OF THE
POPULATION
80
MILLION
MILLENIALS
CHILDREN OF
BABY BOOMERS

3. A GENERATION OF RENTERS
Due to the recession and the housing crisis more
Millennials are renting than ever before.
AGES 29-32 | GOT A FIRST TIME MORTGAGE
18%
16%
14%
12%
10%
8%
6%
4%
2%
0%
A DECADE AGO
2009 - 2011

4. LOVE AT FIRST SIGHT
J Turner Research surveyed renters to find out which key
elements affected their choice of rental properties.
What was the most important factor
influencing your decision to rent a property?
33%
Location
27%
High-quality
apartments/units
22%
Price point

5. CREATING INCENTIVES
While your rental properties may not be able to accommodate a business
center or yoga studio, to attract these high-demand renters, property managers
must think outside the box.
Consider
updating
lighting features,
floors, or even
appliances. These
changes can do
wonders once your
property is on the
market.
Install Wi-Fi
throughout your
properties for the
convenience
of today’s
tech-savvy
renters.
Maintain constant
communication
with your
residents, and be
proactive on
service issues.
Partner with a
local business,
such as a
yoga studio.
Residents will
appreciate a
discount for
businesses within
the community.

6. ONLINE ESSENTIALS
Millennials are using the internet to search for rentals.
You MUST be maximizing your online presence.
$$
$$$
$$$
$
Gen Y renters use their smart
phones for researching available
rentals and finding property
information while on the go.
Having a mobile-optimized
website is a must have.

7. ONLINE ESSENTIALS
Millennials residents want to APPLY ONLINE. They don’t use paper.
CC:
RENTAL APPLICATION
Name:
RENTAL ADDRESS:
CITY:
STATE:
PHONE:
The modern renter wants to
apply online rather than drive
down to your leasing office
and submit an application.

8. ONLINE ESSENTIALS
Millennials expect to PAY RENT ONLINE. They don’t use checks.
Millennials have grown up
with digital transactions.
Ask them to write checks,
and you will almost
certainly lose them. Offer
the convenience of online
and credit card payments
and you’ll increase
resident retention.

9. ONLINE ESSENTIALS
Millennials are accustomed to COMMUNICATING VIA EMAIL & TEXTING.
Our faucet is
leaking. Can you
get someone up
here to fix it?
Sure, we’ll send
up a repairman
right away.
Thank you!
A preference for e-mail and
text messaging is common.
Make texting and e-mail
options available for all needs
including rental applications
and maintenance notices.

10. ONLINE ESSENTIALS
Your residents want to PLACE MAINTENANCE REQUESTS ONLINE.
If residents can place a
maintenance request online,
they’re more likely to interact
with you, which may help you
fix problems faster and save
money. This also greatly
improves resident satisfaction.

11. ONLINE ESSENTIALS
Millennials want to do more online. To attract them, you must
modernize your property management business.
VIEW
APARTMENTS
APPLY
PAY RENT
COMMUNICATE
ONLINE
REQUEST
MAINTENANCE

12. AppFolio can help you attract and retain Gen Y
renters by offering the features they want, including:
BEAUTIFUL MOBILE FRIENDLY WEBSITES
ONLINE RENTAL PAYMENTS
ONLINE APPLICATIONS
ONLINE MAINTENANCE
GET A FREE TRIAL
TODAY
REQUESTS
AND MUCH
MORE
and find out how you can attract more Gen Y renters.
SOURCES:
J TURNER RESEARCH
HTTP://OW.LY/I/2UMRE/ORIGINAL
HTTP://BLS.GOV/WEB/EMPSIT/CPSEEA10.HTM
HTTP://BLOG.PORCH.COM/MILLENNIALS-INFOGRAPHIC/
HTTP://WWW.FORBES.COM/SITES/MONEYWISEWOMEN/2012/03/01/
ARE-MILLENNIALS-DESTINED-TO-BE-A-GENERATION-OF-RENTERS/
Infographic from appfolio, providers of web-based
property management software for the modern manager.
Learn more at www.appfolio.com