The following is part two of our ongoing series covering what the 55+ crowd is looking for in a rental apartment. So far, we have covered accessibility, all-inclusive rents, ground floor living spaces, and the bathroom. Today we are going to look at the rest of the picture.
Plenty of Room for Company
Many of the 55+ crowd is used to host their friends and family for a very long time. This can make them worry about moving into a smaller home and not having room for guests to stay. These renters are often looking for a unit with 2 or 3 bedrooms and an extra bathroom to help them continue entertaining.
The older we get, the more light we need to be able to see. In fact, proper lighting is no longer an option; it becomes a necessity. Installing motion sensor lights in garages, along pathways, in hallways, and any other common area helps light them up without anyone having to stumble around in the dark. If your properties are undergoing remodeling or renovation, you might want to consider having larger windows installed. The more natural light that comes into the home, the more members of the seniors’ group are going to like it. Just be sure to use insulating glass to help keep the heat and cold on the outside where it belongs.
The Finest Finishes
Baby Boomers have become used to having the finest finishes in their home, and they want nothing less in the apartment they are going to be renting. Before you make any changes; if you already have senior age tenants try asking them what they would like to see more in their home, brand-new top-quality appliances or fancy finishes like marble countertops and solid wood cabinetry. You might be surprised at how many would rather have upgraded appliances instead of fancy countertops. Keep this in mind if you plan to do any renovation with marketing to the 55+ crowd in mind.
A Place to Gather
Among the many other things seniors say they would like to see in an apartment community, is the ability to be social. If this is the crowd you plan to market to, consider adding communal spaces for your tenants to gather together with friends and family. For example, add in a large indoor communal living room with a complete kitchen, a fireplace, a large TV, and plenty of chairs, couches, and tables.
Consider upgrading your outdoor areas with quality stainless-steel gas barbecue grills, table with umbrellas, plenty of seating, a covered area, maybe even a firepit. You might also consider hosting events throughout the year to bring your residents together where they can mix and mingle with each other.
The 55+ market is rapidly becoming one of the most sought after as this age group tends to want more but are willing to pay for the extra touches and are among the most reliable. These are only a few of the many things you can do to attract this age group. For more tips, talk to property managers who have been in the business for a long time and see what they have done to attract older tenants.