Looking To The Future Renters: Generation Z

Building a sustainable community and future includes more than just incorporating clean, energy-efficient appliances and practices. A sustainable community means your property will last for years, as well as be desirable to future generations. In this blog post we will explore how to manage today to prepare for the future generations, including Generation Z.

Who is Generation Z?

Generation Z, or Zoomers, are the generation born primarily to Generation X’ers, with a birth date in 1996 or after. They have never been without the internet, and are very technology and social media-driven. Generation Z grew up during the Great Recession, and after seeing Millennials struggle with large amounts of loans, they tend to be better with their money. Zoomers are also entrepreneurial and philanthropic. 72% of Gen Z’ers want to own their own business someday, and over 90% of them say that a company’s impact on society will impact their decision of working there or passing on a job.

What do Generation Z’ers want?

The first people born into Generation Z are already in their low-mid 20s, which means some of them are already ready to rent! So what do they want in a rental property? As you can imagine, great cell service and reliable, high speed internet is high on their priority list. Since they grew up attached to technology, many of them have or will have jobs in the technology field. With so many companies having their employees work from home, reliable internet will be crucial. If you don’t offer free internet to your tenants, it would be a good idea to be prepared with answers as to what internet companies are available in your buildings, as well as prices. Gen Z’ers are appreciative of companies treating them well, so such a simple task can go a long way!

Generation Z appreciates innovative concepts and ideas. They love to collaborate! What can you do in your building to be innovative? In today’s post-Covid world, this could be as simple as placing automatic hand sanitizer stations by the entrances. You could also go the extravagant route, offering an espresso machine in a common area or lobby. Another unique idea could be offering electric car charging stations on your property. Generation Z is all about Tesla and other electric vehicles, so giving them a way to charge their pride and joy could be a game changer!

Another way to attract renters from Generation Z is to offer fun events for your tenants. Whether it’s a weekly coffee break, a monthly social, or a bigger quarterly event, they thrive on having fun and meeting new people! Since they’re big on philanthropy, you could also tie the events to a charity and really knock their socks off!

Generation Z is a whole new generation of people that will need to be catered to differently than previous generations. They value different things higher than Millennials and Generation X’ers, and they don’t just read a post and believe it. To them, actions speak louder than words. You’ll need to actually show them that you’re offering them a great place to stay and spend their money. Getting a head start now will be crucial in winning them over, and preparing your sustainable community for generations to come!

Want help in setting up your properties for success? Contact Byrdy Kelley at [email protected] today!

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Looking To The Future Renters: Generation Z