Member Spotlight by Schottenstein Real Estate Group
According to U.S. News and World Report, home ownership for young professionals has drastically decreased since the great recession. Renting is an attractive option for such individuals hesitant to take on additional debt and for those who crave non-committal living situations. Renting allows young professionals to test the waters while they figure out where they want to live, where their newly-found careers take them, and what features will become necessary to them when the time comes to lock down a more permanent residence. There are tons of amenities young professionals look for when renting, but the most attractive ones keep lifestyle, culture, and convenience in mind. As a rental property, it’s wise to pay attention to these features to be able to compete and win, in the market.
A Great Location
Bottom line, young professionals seeks rental properties that are within proximity to their daily activities – school, work, entertainment venues, bars & restaurants, supermarkets and other hangouts. Young professionals are in a significant transitional period, transitioning from their parents’ homes to college residences to figuring out their independence. Many crave social experiences from their rental properties. Properties that create a sense of community – host events, plan parties & activities, have fitness centers, include large common areas – are exceptionally attractive to young professionals. Also, many choose not to own a vehicle, especially those in larger metropolitan cities, so properties near public transportation are a must.
The Perfect Mix Between Private and Common Areas
Many young professionals seek a functional layout of the property they’re about to rent. Due to various financial situations, many choose to reside with roommates. Those who choose to live with roommates seek properties that offer privacy, like large bedrooms and separate bathrooms. In addition, they also enjoy large common areas that encourage social gatherings.
Rental Properties with Smart Features
Young professionals crave technology and depend on it for everyday use. Updating properties and installing smart features are great ways to market towards young professionals. Begin with the basics like equipping properties with smart lock systems, automated windows, adapters, and other upgrades.
A Green Home
As a rental property, catering to young professional’s wish to decrease their carbon footprint is a sure way to win over potential tenants. Offering recycling, adding insulation, and installing energy-saving light bulbs, low flow toilets, and water-saving shower heads are just a few small, but efficient, features you can add to make an environmental impact and to attract a younger generation.
You may think pets provide more headaches than advantages, but you’re turning away a large population who seeks flexible pet policies. The younger generation has prolonged settling down and starting families, trading human babies for fur babies. One way to attract young professionals is to allow and create a pet-friendly property.