3 Things Millennials Want In An Apartment

Millennials

Getting Millennials To Settle In Your Community

If there’s one generation breaking the mold, it’s Millennials. Born between the years of 1980 thru 2000, they constantly attract the attention of the media through their job-hopping habits, their diversity and their high levels of education. Being the most studied generation in history, Millennials have a different outlook on life than previous generations and are gearing up to change the spending habits of our current economy. This all might sound a bit intimidating at first but it’s great news for the multifamily industry. Millennials are drawn to renting for a variety of reasons and they cherish the ability to pick up and move whenever they like. Because of this, renting has never been more attractive. So how can apartment developers capitalize on these tech-savvy nomads? Here are the top three things Millennials look for in their future communities.

  • Technology – This should be obvious but not all communities understand it. It’s not about Internet access and gaming areas; it’s also about the little things. Great examples making all the difference are USB chargers built into wall outlets, keyless electronic access throughout the property and even a simple digital rent payment system. These all display your community’s commitment to keeping up with the times. Hey, it doesn’t hurt to have tech-savvy amenities, such as a Package Concierge. They order a lot of packages and they want to receive them on their schedule!
  • Attractive Apartment Layouts – For Millennials, less is more. They’re willing to downsize the bedroom for a larger living room where social interaction takes place. Michael R. Ytterberg, principal at BLT Architects, believes in this characteristic as he states: “Within the apartment itself, one of the most important features that Generation Y renters look for is an open floor concept with a large living space. As a result, smaller bedroom spaces aren’t a drawback if the living space can support their naturally social lifestyles.” This makes sense given Millennials thrive socially.
  • 21st Century Health and Wellness Centers – A barren room stocked with treadmills and rusty weight systems won’t cut it anymore. In its place, fitness centers in multifamily communities have been placing a heavy emphasis on yoga studios, pilates and “fitness on demand” digital classes broadcast through large TV’s. Millennials care deeply about wellness and are inarguably one of the healthiest generations ever.

These three characteristics will help your community be lively and vibrant. While Millennials enjoy having the ability to come and go as they please, statistics show that if they’re happy, they’re willing to rent longer, which is great news for the apartment industry. Ytterberg reiterates this point when he says “Many Millennials today are willing to spend more on their monthly rent to live in a prime location that offers them convenience, comfort and choice.” If apartment communities can provide what they’re looking for, it may turn a generation of wanderers into a bunch of homebodies. And what’s better than happy residents who want to stay a while!

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5 Great Cities for Green Apartment Living

The progress society has made in terms of eco-friendly technology and building standards mean that more people are seeking ways to live green and have a smaller footprint on the environment. One of the ways you can help the environment is to live in green apartments when seeking a home in a city or urban area. Every city is working in its own way to make the Earth a better place for future generations, but there are a few that stand out above the rest. Although there are green apartment sand for-rent communities throughout the U.S., these 5 cities (in no particular order) have high concentrations of green-built communities, and go the distance in making it easier for you to live green.

Washington, DC:

Washington, DC is where the U.S. Green Building Council (the nonprofit that created and oversees LEED certification) is headquartered. That alone gives this city an edge. With at least seven apartment communities in the area that have achieved LEED certification by being built with sustainable construction materials, recycling waste material, and choosing fixtures to reduce the amount of fumes and toxins released into the air, DC is a great place to be involved in the green movement.

Denver:

Denver has a lot to choose from when looking to rent green. Many apartment buildings have been renovated from old industrial locations and given unique decor themes for the community. These projects help cut down on wasted materials and green-house gases that construction equipment releases into the atmosphere.

The city also offers light rail and bus service, plentiful farmers markets, and is located near the natural beauty of the Rockies. Forbes also named Denver the number 5 top healthiest city in the U.S. If that doesn’t convince you, perhaps you should visit the majestic mountain city for yourself.

Chicago:

Going green in Chicago is a city-wide effort. Not only do they have the country’s second-largest public transit system, but they also initiated green roof projects, encouraged hotels, and restaurants to go green and have a myriad of green places for rent.

The previous and current mayors of Chicago have also shown great support for the Chicago Climate Action Plan, an initiative to reduce greenhouse gas emissions to 80 percent below 1990 levels by 2050. The city also hosts the Chicago Center for Green Technology, the first rehabilitated municipal building in the U.S. to achieve LEED Platinum rating.

Portland:

Portland is, in general, a great place to live green. Those who want to rent have a wide range of eco-friendly options. Beyond recycling and energy-efficient appliances, many apartment buildings in Portland were built green from the ground up and are LEED certified. Many green communities also have bike storage and car-share options, like ZipCar.

In addition to its green apartment communities, Portland also has a focus on locally grown food, a vibrant public transit system, and was rated number two on Virgin Vacation’s “11 Most Bike Friendly Cities in the World” list.

New York City:

Everyone knows New York is a place unlike any other. Its architecture is iconic, and believe it or not, much of it is also green! Through the 2000s, multiple laws have been signed into effect in NYC to ensure many new construction projects meet green guidelines, including apartment and condo buildings. New York City is also home to Melrose Commons, one of the few LEED for Neighborhood Development Platinum certified neighborhoods in the country.

Even the Empire State Building achieved LEED Gold certification in September 2011, a great example of green retrofitting of existing buildings.

Surely, one of these five great cities has a green apartment ready for you to rent!

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