Multifamily Demand Reaches Beyond Millennials and Boomers

Ask most people working in the multifamily industry about demand for their communities and many will say there are 2 basic and key demographic segments: Millennials and Boomers.

SalesTouch showcases amenities as well as location!

But, a recent Multifamily Executive article by Stacy Stemen notes that even though those groups generate significant demand, there's a third, sometimes overlooked, demographic in the demand equation: divorced people.

And, it's a population that shouldn't be ignored by multifamily marketing given that almost 50% of marriages in the US end in divorce.  One or both of the individuals involved in a divorce are likely to move back into rental housing.

Have you taken this market segment into consideration in designing and marketing your property?  Have you considered what amenities and/or features would make a property more attractive to this third demographic? Stemens suggests incorporating the following elements in a property to attract the third demographic:

• Include child-friendly amenities -- You could become a divorced parent's top choice with this one item alone! Parents want to be able to provide a "sense of home" as well as gathering places for their children so you'll see real interest in community spaces, pools and party rooms as well as fitness center/playroom combos.
• Focus on walkability -- Millennial and Boomer consumers are known to value easy access to the surrounding area's amenities -- and divorced individuals value both the sense of community and the need for easy access to schools, shopping and employment centers.  
• Incorporate on-site services -- Services can range from time-saving items such as concierge services, on-site dry cleaning and in-house housekeeping services to activities including movie nights, wine tasting events and other engaging activities that encourage social interaction and reduce the time needed to go off-property.

Wondering how to effectively communicate these demographic-friendly elements?  Talk with us about SalesTouch -- CPS' interactive touchscreen system designed to showcase your property, features and amenities!