Renting to Generation Z

Understanding the needs of your tenants has always differed by generation. However, with Generation Z being the next wave of tenants to emerge, it’s more essential than ever to understand their very unique and particular needs if you want to maximise the opportunities they present. 

This cohort is the next generation to come of renting age. Depending on the definition, Generation Z consumers are defined as being born between the mid-to-late 1990s and the early 2010s. 

What are there unique features?

One of the biggest differences of this generation is the fact that they are digital natives, used to doing everything online – usually via their smartphone. This means they are the most likely to want to interact in the same way in all areas of their lives.

This digital dominance means that Generation Z takes in a huge amount of information daily, but they’ve also learnt how to quickly filter what they see. Achieving cut-through with your agency’s brand, social media presence and marketing is vital.

Generation Z is also socially conscious and more likely to be concerned about issues such as sustainability, community and charity. They will want to see that you support such causes with properties that fulfil these needs, at least in part.

What can you do to attract Generation Z?

You need to clearly understand what it is that Generation Z wants from the properties that they rent. As an example, as well as being highly digital consumers, Generation Z is also very fitness-focused. Two of the most popular criteria searched for by Generation Z renters are reported to be high-speed internet and close proximity to gyms or leisure centres where they can work out.

Generation Z’s obsession with technology will translate into other areas of their demands too. As well as high-speed internet as a given, they are most likely to want to pay rent through an app and communicate via automated options such as chat. Their love of tech will also extend into areas such as smart home technology, especially where it ties into their environmental and social conscience aspirations too – think saving money and saving the planet with smart thermostats, for example.