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Gen Z: What to Know About Post-Millennial Renters

For as much as everyone talks about Millennials, you'd think they were the only current generation of renters. However, the first wave of Gen Z, which generally refers to people born in 1995 and later, is already in their 20s and out in the rental market. Despite sometimes being grouped with the previous generation, there are some vital differences between these two generations that every investor and property manager needs to know about. Reviews really matter People in Gen Z came of age with technology everywhere and readily available, so they're more deeply linked with online communities. They share their experiences and trust their peers' opinions when it comes to finding products and services. They also don't respond as well to traditional mediums of advertising as previous generations did; they want to make decisions for themselves and simply don't want to be told what to buy. Therefore, real reviews about your multifamily property are going to have more of an impact on prospective renters than any of your sales pitches. Members of this generation tend to view social media presence as a true representation of your business, and your community reviews play a big part in that. Transparency is the name of the game Naturally, you won't be able to make every person who reviews your units happy, but the simple act of addressing an issue can help you connect with Gen Z. This is a generation that is looking for authenticity, so you won't gain their trust if you try......
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Your Maintenance Staff's Impact on Renter Retention

When you're looking for or training a maintenance technician for your multifamily property, you're probably only focused on his or her core skills, and that's only natural. However, in the customer-centric environment of today, repair experience and an HVAC certification are just a part of the puzzle. Modern residents don't just want their faucet repaired quickly; they also want someone who is positive and friendly while doing so. If they don't get that, they may very well find somewhere else to live. Your maintenance team is also becoming an important interaction point with your renters. As more and more tasks like paying rent become automated, your residents are interacting with your leasing team less. This means more customer service and lease renewal influence is put onto your maintenance team, the very members of your staff who are the most likely to be left out of the customer training you offer. Fortunately, it's not too late to bring your maintenance into the customer service fold. Take a closer look at the following ways you can help prepare your maintenance team to build more meaningful relationships with your residents. Look for technicians who fit your culture Getting the right people on board is the first step toward building a quality maintenance team. Don't just look at how well the applicant can handle the nuts and bolts of the job. Consider exactly how this person will fit in with and adopt your company's fundamentals and culture. You want someone who is skilled and experienced......
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