According to the U.S. Census Bureau, only 1 in 3 millennials own their own home. Stagnant wages, coupled with rising house prices, mean that many millennials are struggling to purchase their own property. This makes millennials one of the highest-renting demographics.
With so many millennials looking to rent out a property, several rental property websites are targeting millennials through their advertizing initiatives. As the owner of a rental website, it can be a challenge to ensure you continue to drive the most traffic to your website and guarantee that your site visitors convert successfully. Below, we explore how to target millennial renters effectively using neighborhood and property data.
Studies have shown that millennials value properties with large spaces for socializing with friends. Large kitchens and living rooms, and sizable outdoor space, are the perfect draw for millennials looking to host friends for social gatherings. As such, offering realty data on a property’s square footage, as well as details on any outdoor porches or balconies, is key for helping convert millennial house hunters who land on your rental website.
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.