Generation Z is the latest generation to begin striking out on their own and forming new households. The U.S. Census Bureau defines Gen Z as those born between 1997 and 2013, meaning its oldest members are turning 27 this year. As more of this diverse, well-educated, and technologically savvy generation enters the housing market, what are they looking for in rental properties? Read on for some emerging trends regarding Gen Z’s preferences so far.
Online Presence: Generation Z grew up surrounded by smartphones, laptops, and other advanced technology. As they reach adulthood, technology continues to play a critical role in their day-to-day lives, from interacting on social media to internet browser research. So, it’s no surprise that most apartment hunting for Gen Z happens online. Many Gen Zers have decided on a unit before stepping on the property. Landlords with a robust online presence, including an attractive, informative website and plenty of online reviews, will have a distinct advantage in attracting Gen Z applicants.
Technology: It’s also safe to conclude that Gen Zers have high expectations regarding the technological capabilities of their rental properties. According to surveys conducted by RentCafe, high-speed internet has consistently been one of Gen Z’s top priority amenities. In addition, Gen Z renters will appreciate features like smart thermostats, remote access, and an app or online portal for rent payments and maintenance requests.
Quality on a Budget: Since the oldest among Gen Zers have only recently entered the workforce, most can’t afford to pay luxury-level rent yet. But that doesn’t mean these potential tenants aren’t looking for quality in their rental units. Members of Gen Z are drawn to modern, well-kept properties and will pay more for design upgrades like hardwood or laminate flooring, updated countertops, or a spacious balcony.
Convenience: Gen Z is used to having a wealth of information and ease at their fingertips. A package room where their online purchases can be delivered securely, or a flexible workspace created by lounge chairs with attached laptop arms will make a property stand out. Even as applicants, Gen Zers appreciate virtual and self-guided tours to explore properties on their schedule without being confined to restrictive hours.
Sense of Community: Beyond what they’re seeking in a single rental unit, Gen Z members are also looking for opportunities to connect. A fitness center can be a great way for tenants to interact, especially if group classes are offered. Outdoor spaces can also inspire a feeling of community, whether it’s a rooftop terrace, grill with picnic tables, community garden, or dog park.
Rental property owners who watch these trends and anticipate the needs and interests of Generation Z will find themselves a step ahead when appealing to and interacting with them as tenants.
About Rentals America
Rentals America provides full-service property management for residential rental properties. Our team is completely dedicated to property management, and we’re here to help landlords navigate the rental market.
