Trending Features Gen Z and Millennial Renters Want - article banner

Millennials and Gen Zs are now the largest segment of the paying workforce, making investment property owners consider tailoring their San Mateo rental properties to these generations’ requirements.

Multifamily rentals or apartments are the preferred choice of dwelling for millennials, who are juggling work, life, and families, as well as Gen Zs who are stepping into the working world.

However, when it comes to millennials or Gen Z renters, their preferences of amenities, their lifestyle choices, and their payment patterns differ a lot from other demographics. Here’s what they usually look for, while renting a multi-family apartment in San Mateo.

#1. Smart home features

We’re moving into an increasingly smart era with our lives dominated by smart technology. From TVs to refrigerators to washing machines to ovens to lighting, everything is becoming smart and millennials are at the forefront of this revolution. They’re the designers, developers, and also the biggest users of smart devices. Naturally, millennials expect their apartments to provide smart appliances or at least ones that are compatible with smart tech in the homes that they rent.

#2. Pet-friendliness

Millennials also like keeping pets (dogs and cats being the most common ones) and so they also expect pet-friendly features from any potential rental apartment. Things like window seats for cats, fenced-in lawns, and dog parks, whether on the roof or on the ground, are some common features that millennials seek in a San Mateo multifamily property before renting a unit. Other than this, dog-walking area and pet washing stations in the neighborhood can be an added advantage.

#3. Fitness perks

Millennials are much more aware about leading a healthier, fitter, cleaner lifestyle. A large part of gym-goers are millennials, and although they can get a gym membership from anywhere on their own, if you can bundle it with your apartment by partnering with a nearby gym or yoga studio, they’re going to like it for sure. As far as the price of membership is concerned, you can recover at least some part of it by charging a slightly higher rent than other apartments in your neighborhood.

#4. Digital transactions

Millennials are the largest demographic spending money for online purchases and payments, and most of them expect an online transaction facility when it comes to rental payments too. Polls suggest that they are likely to prefer apartments that conduct business online, including all transactions, through any of the popular online payment methods (i.e. debit card, credit card, online transfer, etc.) than an apartment that accepts rental payments in cash or by paper check only.

#5. Easy and quick communication

The tech-savvy generations of today also expect easy and painless communication methods to be provided by a San Mateo landlord. Rental communication on platforms like WhatsApp chat, voice call, or email is increasingly common, as are prompt responses. If a tenant tries to contact the landlord to communicate any issues, the landlord is expected to respond in a timely manner, even across channels like WhatsApp or Skype. If you build a reputation of being inaccessible among the tenants, then you may find it increasingly difficult to get a good tenant for your multi-family property in San Mateo.

That covers the trendy features that millennials and Gen Z renters seek while renting an apartment in San Mateo. Their demands may be a bit different than the other demographics of renters, but if you make the necessary upgrades, they are usually punctual in their rent payments. That’s why you should consider incorporating these features into your apartment buildings and renting to millennials and Gen Zs.

Smart technologyFounded in 1982 in Marin County, Bayside Management has expanded to offer full-service San Mateo property management to the entire San Francisco Peninsula. We manage single-family properties, multi-unit complexes, commercial properties, and homeowner associations. Connect with us to discuss all your investment property-related queries.