The Rise of the Rentysomething – Industry Sees Influx of Influential Tenants
Ok, so there’s a new term doing the rounds that people in property marketing will need to know if they are to successfully target promotions for homes to let - The Rentysomethings.
What are those? We hear you ask, well the answer is that rentysomethings are a whole new generation of private home renters who might, in a different market have already taken a step onto the property ladder.
Young Professionals Seek Long Term Lifestyle Lets
The rentysomething crowd are young professionals whose wages preclude them from social housing options, but who cannot meet the necessary requirements to secure mortgage finance for their starter homes in the post-credit crunch climate.
Also known as the “trapped out” generation, the rentysomethings look set to become a powerful market force when it comes to home lets – demanding accommodations that suit their lifestyles, personality and preferences in the long term as they settle for homes that will never truly be their own.
Rental Property Marketing Targets Trapped Out Generation
The shift in the demographic of private renters has started a shift in attitudes amongst current and would be landlords, with many taking advantage of the rentysomethings special circumstances in order to perfectly tailor their property marketing creating high levels of competition for homes that meet their lifestyle driven demands.
Landlords who understand that they are marketing a potential long term home, rather than serving as a stop gap before a property purchase, can increase not only their earnings but also their choice of tenant helping them secure desirable and reliable renters.