What Do Boomers Look for in A San Mateo Multifamily Rental Property?

When it comes to renting an apartment in a San Mateo multifamily property, it’s a common notion that millennials are the largest market of renters.

Though that is technically true, millennials are not the only major market segment. Baby Boomers, the generation born before 1964, is another important segment of the multifamily rental market in San Mateo.

If you plan to rent your multifamily property to a Boomer, you need to ensure that their most important needs are met.

#1. Spacious rentals and storage space

Baby boomers form a significant percentage of renters in the US, and the demographic usually looks for larger spaces. They’re mostly individuals who have settled down, with one or more family members, so almost all of them require more living space than millennials or Gen Zs. Therefore, the first thing that your multifamily rental should offer to attract boomers is a lot of space with natural lighting and ventilation.

Also, ensure that you offer extra storage space, if possible, as baby boomers have a lifetime of memorabilia that they may not want to give up on, when they are downsizing.

#2. Hands-free maintenance

A large number of baby boomers are in their 60s and 70s, which means that they may not be able to perform all the maintenance tasks required to take care of the apartment. That’s why most of them are looking for hands-free maintenance properties, where the landlords themselves take care of the maintenance. You may want to charge higher rent or an extra fee to offer this facility, which many boomers will probably be happy to pay.

#3. Exercise facilities

Old age also brings a number of health issues and many of these require routine exercises in order to be kept under control. That’s why baby boomers also seek exercise facilities within (or near) the multifamily property that they rent. The easiest way to provide such facilities is by partnering with a nearby physiotherapist or gym. Or if you have the budget, you can build an exercise facility within the property and hire a physiotherapist or trainer on a contract-basis for it.

#4. Security

Baby Boomers also expect advanced security from the San Mateo multifamily property in which they are going to reside. They prefer quiet, well-kept and safe communities, which are protected from attempted break-ins or vandals. Having security cameras and surveillance equipment can be a plus point for your apartment as it sets the concerns of security to rest.

#5. Blend peace and fun

Most baby boomers seek a calm and quiet environment where they can move and rest peacefully. For mornings, they would want walkable surroundings with lots of greenery to go for a stroll, and at night they prefer quiet neighborhoods for a peaceful sleep. Also, most baby boomers work part-time or do not work at all, so, as a San Mateo property owner you can create a social calendar and arrange plenty of social activities that will entertain them.

Founded 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.