Because of the internet, people can now watch YouTubers as they document the entire process of their every move from one apartment to another. It’s not a new trend, millennials have actually been the ones who started it.
There have been all kinds of things said about the millennials but, not a lot of people may realize that they’ve greatly reshaped the real estate industry and continue to do so. While investing in a house is good and all, not everybody has the same goal. The millennials for one, value a more flexible lifestyle which is why the majority of them choose to rent and stay on the move. They also prefer flexible schedules and financial and geographical independence. They value the idea of living in the moment and relishing every moment of it, not just focusing on working and preparing for the future.
Yes, it seems that the millennial generation is what every landlord has been waiting for, but that doesn’t mean that every type of rental property is perfect for the millennial renter. Having said all that, it seems like these five kinds of properties are what millennials usually go for.
Rental Houses And Granny Pads
The majority of millennials are now at the age of settling down. But even then, most of them still prefer renting over owning a home. They actually have no problem renting an entire home if it’s what their family needs nor they do with going for a smaller place like a granny pad. As long as the functionality of the space meets their needs and wants.
Granny pads are actually great as it is a unit that is close in proximity to the landlord and their home. This type of property offers both comfort and support from landlords which is probably why it’s a popular choice for millennials with families. Sure it may be smaller compared to a house, but it also means cheaper rent. Plus since many millennials are used to living in smaller spaces, they’ve learned how to makes such limited space functional.
Millennials who live in the city know how rent and living expenses can rack up quickly. That’s just how it is in cities compared to countrysides. Because of this, sharing oversized lofts with a family or friend is a common go-to as it allows them to split rent and utility bills while enjoying a decent living place. Oversized lofts can usually accommodate two to three tenants at a time which is great for those who don’t mind living with others and cutting back on living costs because they have people to split it with.
Functional And Serviced Studio Apartments
Younger millennials who are always on-the-go, love the privacy with socialization and prefer the ease of living in the city often like to rent serviced studio apartments. A serviced apartment is a private place with communal areas like kitchen and entertainment rooms. So they can enjoy their privacy as well as have plenty of chance to network and meet people when they want to.
Aside from that, the biggest selling point of this kind of rental property is the convenience that comes with the rent they pay such as cleaning and linen changes, and other perks. So because they’re able to outsource some of the house chores, they have more free time to focus on their career and enjoy their city life which is always appealing to millennials.
Bachelor Apartments For Young Millennials
Many of you are probably familiar with bachelor apartments. That’s because it is also a type of place that many millennials who are single, young, and prefers to focus on career, quality of life, and personal development.
You can easily find bachelor’s pads throughout a city in different price ranges depending on the area. You can find good and affordable ones if you look around well. If you don’t want to comb the city on foot, you can always start by checking online for bachelor pads for rent and make sure to watch 3D virtual tours of them to have a better idea of what you’re really getting.
Basement Apartments Are Becoming Popular
Basement apartments may not be the most ideal accommodation but they’re starting to be popular among millennials. Not only because you can find chic basement pads nowadays that have been converted and remodeled to suit the needs of city-dwellers, but also because this type of apartment can be really affordable.
So if you have a basement apartment for rent, be sure to target this demographic specifically to rent the place quickly. It would help if you include Matterport virtual tours. Not only will you be helping out apartment seekers to look into your vacancies without visiting right away, but you’ll also be able to showcase your basement apartments in the best light possible.