Keeping up with the trends your tenants want and expect can be difficult. Therefore, property management data can come in handy to stay competitive in the rental housing marketplace. With the year winding down and peak leasing season at an end, you can take some time to think about what your tenants want. In preparation for 2020, there are a few things you should consider to help draw in prospective renters.
Trends for 2020
There are several things your current and potential tenants are looking for when searching for their new home. For example, leasing agent data shows that Gen Z will be the next target for the rental industry and leasing campaigns. Because of this, there will be a few technology-focused trends that can help give you a leg up to these renters. For example, an option for online payments, keyless door entry, and charging stations are some amenities that are growing in appeal. If you invest in these conveniences, you could increase the price of your units accordingly. These are also great things to list in your marketing campaigns to attract potential tenants and keep your current tenants happy.
Pricing Your Units
According to recent multifamily data, the demand for rentals is continuing to grow. With this in mind, it can be difficult to decide how to price your apartments. You want to ensure that you are maximizing profits while also not pricing so high that you scare current and prospective tenants away.
Because of this difficulty, property management data can be useful when thinking about the cost of leasing your units. Knowing what your competitors are charging, what tenants are saying, and which amenities they have, you will have the knowledge you need to determine the appropriate cost of your rentals.
At ApartmentData.com, we can give you access to the latest property management data. We offer an array of services, such as marketing services, to help you get the most out of your properties and to give you options. ApartmentData.com has several package options to ensure that you find the best solutions for you and your budget. Call our team today at 1-800-595-8730 to request a demo for your rental properties. We look forward to serving you.