The “Baby Boomers” are aging, and in recent years, more attention is placed on this group of people—the generation born after World War II. Baby Boomers represent an oversized chunk of the population which has led to their powerful influence on American society. As the Baby Boomer generation reaches retirement age and beyond, they have also become one of the fastest-growing groups of renters. In the Davie home market and beyond, they are a force to be reckoned with.
Attracting and sustaining Baby Boomer renters demands a good perception of their needs and inclinations, as well as the attributes that define 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 owners, these characteristics offer an idea of the most practical tactics for advertising a property, attracting retiree renters, and promoting social activity.
Advertising to the Baby Boomer generation involves a mixture approach. Many Baby Boomers fancy utilizing online resources to search for rental homes, pay rent, and use smart home features. They will usually use the internet and sites like Zillow to find rental properties. 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. For this reason, charming Baby Boomer renters must be accomplished with both online and offline methods.
One of the reasons industry specialists believe Baby Boomers are renting at growing rates is because they don’t desire a mortgage payment or the weight of home maintenance once they retire. For Davie 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. Many renters in this demographic are ready to pay a higher rent if it incorporates some of the more labor-intensive home maintenance duties.
When renting homes long-term to an aging demographic, it is likewise necessary to predict requests for reasonable modifications. Property owners can be proactive in some ways by creating accessible doorways, ramps, and grab bars. While some adjustments will depend on what the tenant would require, numerous aging renters will benefit from a higher standard of accessibility in a rental home and appreciate an owner’s attempt to anticipate their current or future needs.
Property owners can also entice and retain Baby Boomer renters by building meeting areas on or near their rental home. Social activity is relevant to renters of any age, but retirees often prioritize the capacity to meet 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 often looking for a place they could imagine themselves staying in for many years to come. Davie property owners can optimize their rental homes by offering amenities and services that appeal to this demographic and making their continuing satisfaction a priority. At Real Property Management Asset Solutions, we understand how important tenant retention is, and how to appeal to the owner’s desired demographic efficiently. We can provide assistance to property owners and help keep their vacancies low and their tenants pleased with the level of service and care they receive. To learn how we can help, or if you have additional questions, contact us online or by phone at 954-889-5627 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.