Baby boomers and Millennials constitute two large categories of the adult population in present times. They actually represent two different generations of men and women having different requirements and tastes in terms of accommodation unit they are looking to live and work. If you are the owner of a rental property in Los Angeles and have a desire to attract members of these two categories tenants, here are certain tips to make your property desirable for them.
Millennials are aged between 18 and 40 while baby boomers are aged between 50 and 70. Most of your tenants belong to either of these two categories. Though it looks people in these two categories may be totally opposite, they do have commonalities that you can use to make your property appealing to both of them.
Millennials are adults who cannot afford or not interested in owning a home. They are highly educated and love to live in rented homes. They want their homes to be full of all amenities like condos and apartments. They also desire quick access to shopping and dining facilities besides remaining close to their work places. Choose your property that is in close proximity to the highways or a metro station. Millennials also love to live in green surroundings. It is better to buy a property near parks and other places with lush green spaces. They love it when the property has bike racks to park their bikes. Beach area such as Santa Monica, Venice, Marina Del Rey and the Westside are desired right now.
If baby boomers are your preferred tenants, you must pack your property with all comforts. These adults are demanding and they are not ready to make compromises with their needs. Once they like a property, they will settle down and live in it for a long time to come. Baby Boomers like good customer service and a landlord who is responsive to their needs. Neat and clean homes with all modern amenities are the first preference of these baby boomers. These men and women may be old but they do not feel their age and want to live a very active lifestyle. Make sure your property allows them opportunities to engage in outdoor activities like cycling, golfing, aerobics and walking paths. Area such as San Fernando Valley, Beverly Hills, Culver City, Encino, and Sherman Oaks has seen more growth than other in Los Angeles.
Taking a clue from the above description, you can easily find a property that can easily accommodate people from both these categories. This way you will be able to make your property attractive and desirable for both Millennials as we well as baby boomers.
Jesse Sasomsup is an owner and CEO of PMI Golden State, a property management company located in Sherman Oaks, CA. PMI is one of the largest property management network with over 200 offices worldwide.