On the surface, defining generational preferences seems to be a fairly streamlined process. Baby boomers shy from technology while millennials and Gen Z individuals cannot go without it. Gen Xers are somewhere in between.
While that notion might serve as a broad rule of thumb, most successful apartment operators look deeper than that surface-level analysis. Yes, tech preferences often correlate with age, but the nuances of generational preferences go far beyond desired means of communication.
For instance, boomer renters often opt for apartment living after years of homeownership, which means they’ve accumulated more possessions. With that, extra storage and proximity to the storage area is more important to them than someone fresh out of college who is still buying furniture.
As apartment communities become increasingly multigenerational, some even feature homes with multiple generations living under the same roof. A recent Entrata multifamily survey found that 15% of renters live with a family member who is not a spouse, domestic partner, or child younger than 18. The survey further dissected this subset and revealed that 50% of Gen Z, 24% of millennials, 18% of Gen X, and 13% of baby boomers live with a family member.
Each of the four unique generational cohorts, naturally, has unique living preferences, habits, and lifestyle trends. For apartment operators, that makes it nearly impossible to tailor communication methods, amenity spaces or community services, and features to a specific generational demographic, because several different preferences often exist within.
So how should apartment operators make these types of decisions when not only several generations live at the same community but also might occupy the same apartment home? Here are a few concepts to consider, keeping in mind flexibility is key and usually wins over rigid policies.
Communication Preferences
Among the various generations, communication preferences differ with regard to desired styles and channels. Most notably, millennial and Gen Z renters prefer—and sometimes demand—immediate responses to questions and immediate actions to requests. And they use their phones for all of it. These generations are also very prone to escalate their issue faster than other generations.
Gen Xers, for instance, weren’t privy to the internet and one-click tech early in their lives, and it affects the way they form relationships. As a result of missing all that screen time, they have spent more time in life learning how to harvest interpersonal skills. As such, they often make strong connections more rapidly and can collaborate more easily with less technology. In short, a Gen Xer is more likely to visit the office in person than a millennial or Gen Zer. Baby boomers are typically even more patient in communication and understand that some requests might take a few days to address.
For all of these unique tendencies, community teams should have resources in place. For younger generations who don’t wish to interact directly or wait for a response, self-scheduling options are utilized on a grand scale and are highly recommended. But that doesn’t mean on-site teams should abandon opportunities for old-fashioned human interaction. A resident portal offers communities the opportunity to layer communication options within, whether for information sharing, social connections, maintenance requests, rent-pay options, or advertising on-site services such as dog walking.
The primary idea at most communities is for all residents to receive the same communication from the management team. A resident portal provides this capability, allowing residents to choose how they wish to interact with the tool. For example, residents have the options for text message communication through the portal, but communities seldom receive 100% absorption to that option. Text is popular, but on-site teams can still offer email and phone communication to residents who prefer it.
Marketing Strategies
Naturally, marketing strategies are created to be all-inclusive and market to all audiences. But that’s not to say nuances don’t exist within the strategies or that tactics cannot shift after contact has been made. Boomer prospects, for instance, typically best respond to a follow-up phone call after initial contact.
Unlike decades past when marketers sought to attract prospects through print advertising and on-the-ground outreach, the primary objective has shifted. Teams now work to acquire advanced insights into submarket trends and local competition to spur their outreach efforts. Marketing teams are at an advantage when they understand their geographic location as a value, and generational components prominently factor into the market profile.
Armed with that knowledge, marketing teams can create a unique digital marketing journey by combining elements such as pay-per-click advertising, geofencing, reputation management, and SEO that appeals to masses. Well-branded, clever signage and smart lead-management techniques that cater to demographically segmented prospects are an added touch. While most communities strive to be found in digital fashion, prospect communication may or may not shift once a prospect is engaged. At that point, it’s about the proper timing and follow-up methods that will serve as an effective response to the particular prospect.
Amenities and Services
Some amenities and services are considered high value by some generations and largely ignored by others. To piggyback on the earlier idea, the propensity of baby boomers and Gen Xers to have more possessions often equates to their desire for larger homes. Three-bedroom homes are often requested to accommodate belongings and also to welcome lifelong friends. With that, they also want more parking and more storage.
A large in-unit kitchen can be important to the older generations while not as much for millennials and Gen Zers, who seek more of a social vibe around their dining experiences. The younger cohorts might prefer a community amenity in the form of a chef’s kitchen where they can entertain a larger number of friends.
Community teams are wise to highlight these attractions as discussions progress with their respective demographic. Yes, it’s challenging to market everything to everyone, as only the swimming pool seems to be an across-the-board attraction. But on-site teams should understand the value of their amenities and services based on generational preferences.
The primary objective for on-site teams is to remember that their ability to attract and retain multiple generations at a community is largely rooted in responsive service. Offering the ability for residents to self-serve as they wish, such as mobile service requests and online rent-pay options, while still providing a personal touch for those residents who still prefer it is the key in striking that generational balance.
