Millennials are currently making up the majority of the housing market and with the advancements in technology, the needs and requirements of the modern-day renter have changed quite dramatically from those generations before them. Growing up in an era of rapid change, the millennial generation has vastly different expectations, priorities and values, with them being referred to as digital natives and multitaskers.
When it comes to millennial renting importance lies in their ability to be flexible and live in a world of convenience. Unlike those before them, millennials value work-life balance and refuse to sacrifice their health or leisure for financial gain. Aside from price and location here are six things that appear to be the next most important aspects to a millennial renter. Looking for a rental? Check out homelet.co.uk
6 aspects of millennial renting
It is common for the millennial renter to own and regularly use a bicycle, especially those living in built-up areas and big cities, it is therefore, important for the property to include storage for their bike.
As the majority are pet owners, millennials are looking for rental properties that will welcome their beloved pet.
Access to public transport
Unlike the generations before them, not only are millennials happy to make use of public transport, for most it is essential as they don’t own their own car. Although Uber is a lifeline they don’t want to have to trek miles to the nearest public transport links.
Fast internet connection
Millennial aren’t called digital natives for nothing. This generation are never far way from their phones, laptops and tablets. Therefore, a good internet connection is a must and is in fact crucial to their daily lives.
Millennials and Gen Y are becoming increasingly concerned with the environment and sustaining the world around them. Which is why environmentally friendly features within the home are something they would deem important. For example, a complex that included solar panels, or easy access to recycling bins and facilities.
For millennials, the main benefit to their busy lifestyle is the flexibility of not being tied down to a mortgage. Add to that the option to move with ease. Forget being locked in for years. It’s all about short-term contracts. These short lets allow them to stay as long as they need without the pressure of being in contracts for one to two years.