Changing Renter Demographics: What Does This Mean for Your Marketing Planning?
You’ve no doubt seen the headlines: “The Coming Rental Housing Wave” or something similar.
The time is now for multifamily housing and..statistics show that demographic trends and changing attitudes about home ownership are signaling not only increased demand but a change “in the contours of the rental base” according to Michael Cohen, senior real estate strategist at CoStar Group.
|Is your marketing program reaching demographic interests?|
What does this demographic change mean for your marketing plan? As Cohen indicates, your prospect is no longer only a member of the 20/30 sector. Cohen suggests 20 million rental households are found in the 35-64 age range.
And, their approach to rental housing is different. Frequently, this is a lifestyle change — and they are looking for lifestyle in rental housing. Are they close to shopping, dining, recreation? What amenities do you offer?
And, how do you present this information? We’d like to suggest an interactive touchscreen — and the related content push to your website. A well-designed touchscreen system engages your prospect, provides an interactive experience designed to showcase your property’s lifestyle and saves time by providing inventory availability at a touch. When your agents are busy, visitors can “self serve,” too.
How is your marketing plan gearing-up for the changing rental demographic?