Having a property of your own is a unique feeling, especially when you have decided to derive some additional income from it. It is finally the time when your hard work reaps its benefit in form of rents. Long-term rentals are becoming extremely popular these days due to their flexibility and stability.
People are shifting due to their jobs, family, etc, and often find rooms for rent near me to have a comfortable work-life balance. They search for long-term rentals, which you can provide.
People are targeting the younger generation more when it comes to long-term rentals. You should also target them since they are the ones who are sure to rent as they cannot afford to buy a new house. The younger generation prefers renting over buying. They see home buying as a risky transaction sometimes with student loans and other debt burdens already at hand. They also look for mobility since buying a home means sticking to the place forever.
If you want to get your long-term rentals running and happening, there might be a few steps and advice which you need to follow, especially in terms of the younger generation. It will help you attract them and ensure that they stay.
1. Advertising As Your Tool-
Today, the whole world is running on advertising. Every market, every company,m every industry is thriving only because of advertising and marketing. The younger generation today is using different types of applications on their mobile phones such as Facebook, Instagram, etc. There are other applications where properties are listed for vacation purposes. The younger population always has their mobile and laptops with them, if you want them to know about your place, make sure you have an online listing available. You can list your property at vacation saga also, where there are numerous other renters and landowners who meet and decided on vacation rental homes.
This also needs to be ensured that the pictures, the amenities provided, services offered, all are written and described accurately by you. The younger population is not very experienced in this and they will get attracted to a better online presence. So make sure your property is one of the best listed out there.
2. Make Your Home Eco-Friendly-
The younger generation today is very environment-conscious. A badly managed home that has a large carbon footprint in itself will surely be not on a younger renter’s list. They are wary about climate change, pollution, and natural resources. In order to attract them and gain their trust, make sure your house is environmentally friendly. You can use low volatile organic compounds. If you are living in a clean area, near a farmer’s market, or have solar panels, publicize them so that they may know you care about the future. If your house is near a public transport station, you can advertise that as well, since it will help them not use cars for the commute.
The younger generation always looks forward to pet-friendly vacation rentals and pet-friendly long-term rentals. They travel and stay with their pets, that are often their best friends also. If you have a policy of no pets, it might be a big issue for the younger population, and you will lose half the market access. You can always take professional opinion for changes you will have to do in order to allow pets. If you are building your house, you can consider getting things that are more resistant to pet damage.
4. Have An Attractive Neighbourhood-
We know that neighborhood is not a choice always. But however, if you have a neighborhood that is close to city centers, clubs, restaurants, local eateries, beer shops, then it might be a big advantage for you. The young population does not like living too far away from the city, and if you have a house placed in a central location, it might be an advantage for you. Make sure you advertise this factor of your long-term rental if you want to attract millennials.
5. Make A Public Place On Your Property-
If you have an apartment kind of property, you can make a place which is a common area where all the renters can meet. For example, you can put up barbecue facilities, gardens, gym or something like this which acts as a common area. The younger generation loves to hang out, and a property that gives them a place to hang out without spending much money will surely be on their long-term rental list.
If you are also looking for renters for your property, be it long term rentals or vacation holiday rentals, you can always check the listings online. Vacation saga has a plethora of vacation holiday rentals for all kinds of population, young old, couple, single, etc. Yours can be added there too. All you have to do is to market to the right audience and ensure you stay true to them.