Ahhh Millennials, aren’t they the best. This article hit most of the key points in terms of what they’re looking for in the apartment rental market. I was hiking yesterday with a young millennial who said he never desires to own a car, wanted an apartment that was convenient to public transportation, and that he needed that apartment to be near food options that catered towards a more eco friendly young crowd (i.e. vegan or vegetarian). What does this mean for the apartment market? If the units in your building are tech forward so your tenants can work from home, and they have some of the amenities listed in the survey below, then you have the ability to draw millennials to your new or renovated property.
-Adam Horowitz, Principal, Lever Capital Partners
Click here to see the 2018 Consumer Housing Insights Survey conducted for the NMHC: