Authenticity, luxury, and tech as a given are three major keys property owners and managers are emphasizing to reach this new generation of renters.
Growing up during the Great Recession, members of Gen Z are skeptics who seek transparency, rather than marketing hype, as they approach any investment. The Washington Post reports that for property managers and owners, this requires active engagement with its community of tenants, and openly addressing any negative online reviews or other concerns to build loyalty over the long-term. Gen Zers are also likely to leave reviews, and are twice as likely to leave positive reviews than negative ones, when earned.
By 2020, Gen Z will represent 40 percent of all consumers. While most of the business insight into this generation (those born between the mid-1990s and early 2000s) has been focused on its spending habits as teenagers, its oldest members are now graduating college, entering the workforce and seeking apartment homes of their own.