Millennial Tenants
Millennial tenants are becoming more of the tenant market and what they want often requires high tech solutions. Without that technology, they consider you backward or irrelevant, even though you’ve got everything else nailed.
Without technology and growing property portfolio’s you may not be able to keep up, nor satisfy landlords and owners that you’re capable of growth and efficiency.
They’ll likely know from their first visit to your website or conversation on the phone that you’re old school.
Renters love the ease of doing things when they can via their smartphone, on the bus or subway, at work, on the road in their car or at home.
Rental Market Demand
Housing construction starts will grow in 2020 and for the next 5 years.
Renters are weighing the buy vs rent decision, and some will make the choice to buy a home. That will in turn lower rents and raise vacancies.
Your costs will go up and your revenues down.
Large Multifamily Properties
Large multifamily buildings are the trend, due to so much pent up demand for units. Big developments near key transit locations will receive priority from the government.
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