A good number of apartment communities are finding out what amenities and services appeal to the millennial population.
To satisfy both cost and quality of life requirements, most millennials have moved (or desire to move) into modernized apartment communities.
It turns out that there are several key factors surrounding this move including: communities close to campus, ample storage space, a fitness center, and individualized bathrooms and/or bedrooms. This is more so the case with females at 69% than males at 31%.
What it boils down to overall is that millennials are looking for luxury amenities that they can’t get on campus at a reasonable price they can afford. Property managers are helping to make this possible.
Today’s students prefer off-campus student housing to dorm life for a variety of reasons, such as cost, freedom and more space, but they appear to be most interested in the social opportunities these properties enable and encourage and the opportunity to be on their own for the first time.
Here are a few things that are important to millennials when it comes to housing.
Internet, WiFi, and Cable Access
In an increasingly technological era, millennials don’t like to be without connection. It’s one of the worst feelings ever. They place a high value on having access to high-speed internet, WiFi and cable in their apartments.
By definition, an apartment has more space than a dorm room and less space than a full house. Many millennials have not accumulated a lot of furniture at this stage in their lives, but they still want more than enough room to keep their clothes and other belongings. Space also includes having big storage areas as well as full bathrooms and large kitchens.
As more millennials aim to keep their lifestyle high but their costs low, dine-in is becoming so old school and cooking at home is the latest trend. Wide open, modern kitchens can be a major deal breaker for the 61 percent of millennials who now cook their own food. A reasonably sized kitchen can also be helpful when there are two or three people living in the apartment.
With the cost of tuition skyrocketing, students could avoid the added headache of monthly rent. Many millennials are willing to pay a pretty penny for a decent place that includes amenities they care about.
Safety of Property
Seventy six percent of millennials report that safety is their number one priority when scouting out a new place.
Seventy-six percent of millennials love their pets. Even if everything else is great about the apartment, they could still not choose to live there for the simple reason that their pet can stay with them. Property managers should consider this and have outside and inside space available for pets.
Millennials tend to place a pretty high value upon outdoor spaces for studying, chatting, or just hanging out alone or with friends. Take a little time to consider the outdoor settings with additions such as outdoor furniture and lighting to foster a sense of connection and community. If they are not living with friends, students can choose to get to know their neighbors by spending time outside, holding grilling sessions, swimming meets, or anything else deemed enjoyable. Since apartments lack the front yard/backyard atmosphere that a house has, students will find this an easy way to relax and enjoy the weather.