Multifamily Marketing: Keeping the 12 Must-Haves in Mind

Great article in Multifamily Executive suggesting developers and property managers need to be sure their property responds to the 12 "must-haves" in order to stay competitive and applealing to Gen-Y.  Take a look at the article by Jane Wolkowicz, based on discussion with KTGY's Rohit Anand and Bozzuto Group's Jeff Kayce, here -- it focuses on areas ranging from fitness centers (please, don't call them "rec" centers!) to finishes to sustainability.

Some of the "must haves" might seem cross-generational (e.g., location, location, location!); however, two standout because they probably apply more to Gen-Y than any other segment:

(1) The Leasing Experience today is not what it once was

Keeping your leasing space relevant & creative!

Remember private leasing agent spaces -- so necessary for lease signing? Gen-Y renters don't value that private space, as much. 

They're more interested, according to Kayce, in using leasing office space as a lounge for socializing with current and prospective tenants.

CPS' experience with SalesTouch, our interactive touchscreen system, bears this "must have" out; agents tell us tenants come back into the leasing office and use the touchscreen system after move-in.  They're interested in locating restaurants, shopping, recreation -- all the items displayed as "hot spots" in the touch presentation.  And, they bring their friends with them!

So..not only does the leasing office need an area to encourage socializing but..it has to be relevant to your renters.  Not just a space, in other words!

(2) Staying creative is key

Innovation, says Kaye, is critical as Gen Y wants environments that are fresh, creative and distinctive. 

Here at CPS, we suggest installing an interactive touchscreen system signals an innovative owner/property manager, one that keeps up with the latest in technology and delivers on that message.  Turns out, that's a great signal to send Gen-Y prospects!