There are quite a few stories that have beguiled audiences more in modern years but none more than the aging of the generation born at the end of World War II. At the same time, these “Baby Boomers” comprise a massive section of the inhabitants, creating an unusual level of influence on the American community. As the Baby Boomer generation reaches retirement age and beyond, they have also become one of the fastest-growing groups of renters. In the Rexburg home market and above, they are a force to be reckoned with.
Attracting and keeping Baby Boomer renters requires an exceptional understanding of their needs and wants, along with the characteristics that depict this generation. For example, Baby Boomers are one of the most affluent generations to date, indulging in post-war abundance and an affinity for leisure activities. For property holders, these characteristics give a peek at the best schemes for advertising a property, engaging retiree renters, and motivating friendly pastime activities.
Advertising to the Baby Boomer generation entails a combination of procedures. Numerous Baby Boomers revel in harnessing online resources to locate rental homes, give rent payment, and exploit smart home features. They will employ the internet and websites like Zillow to find rental properties all the time. At the same time, however, Baby Boomers are more likely than other generational groups to use offline methods for finding a rental home. “For Rent” signs, local bulletin boards, and recommendations from friends are all a common means of gathering information for this demographic. As a result, engaging Baby Boomer renters must be accomplished with both online and offline means.
One of the reasons industry experts presume Baby Boomers are leasing in escalating numbers is because they don’t want a mortgage payment or the worry of home upkeep once they retire. For Rexburg property owners, this means that a good strategy to attract and retain Baby Boomer renters is to offer more services, such as yard maintenance or house cleaning. A collection of renters in this demographic are willing to pay more rent if it includes some of the more laborious home repair jobs.
When leasing households on a long-term basis to a maturing demographic, it is also critical to foresee requests for reasonable modifications. Property owners can be proactive by providing accessible doorways, ramps, and grab bars. While some modifications will be tenant-specific, countless aging renters will gain from a higher level of accessibility in a rental home and love an owner’s attempt to predict their current or coming needs.
Property landlords can also draw and keep Baby Boomer renters by erecting social congregation areas on or close to their rental home. Social get-togethers are paramount to renters of any age, but retirees often enjoy the opportunity to get together with family and friends. A beautiful kitchen, updated patio, or other gathering space can go a long way toward keeping a long-term tenant satisfied.
When Baby Boomers rent a home, they are usually seeking for a spot they could envision themselves living in for several years to come. Rexburg property landlords can optimize their rental homes by offering facilities and services that attract this demographic and by continually prioritizing their pleasure.
At Real Property Management Southeast Idaho we understand how important tenant retention is, and how to effectively appeal to the owner’s desired demographic. We can assist property owners to keep their vacancies low and their tenants thrilled with the kind of service and care they will get. To know how we can help, or if you have additional questions, contact us online or by phone at 208-522-2400 today.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
