According to Forbes(LINK), the rental home market is changing because of millennials. Individuals born between the early 1980s and the late 1990s are now in the midst of their careers and have money for a downpayment, yet they are choosing to rent instead of buy. This is good news for property owners and property management. Arlington landlords can use this new renting mindset to their advantage.
Why are Millennials Renting?
As Forbes(LINK) points out, Millennials are choosing to rent even when they may be in a position to buy. This lines up with the value system observed in this generation. They tend to place more importance on experiences and freedom rather than material things and stability. When you own a home, it is more difficult to move across the country for your dream job. Saving for a new roof means less money for traveling. A good Arlington rental property management team can help you market your home for this new kind of renter.
Picking Property Management Arlington Tenants Will Love
What does this mean for property management? Arlington landlords looking to appeal to the millennial generation need to know a few things. First, many millennials work for tech companies and technology is a huge part of their lives. Specialized Property Management makes your tenants lives easier with our online portal system. Tenants can log in to their portal and pay rent or submit a maintenance request. Second, marketing will look different. With many tenants moving from across the country, they may never drive by to see a For Rent sign in your front yard. Online marketing with walkthrough videos is important to reduce vacancy days and give potential tenants confidence in renting a home sight unseen. Fortunately, with an Arlington rental property management team like Specialized you get all these services and more.
Want to learn more about all the services we offer? Give Specialized a call today!