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Want to expand your reach to more renters? Don’t forget about older adults, a growing segment of the renter population.
Over a quarter of all renter households are led by someone 55 or older, according to the Joint Center for Housing Studies at Harvard University, and more seniors are expected to enter the rental market in upcoming years.
Here’s what older renters are looking for and how your advertising strategy can meet their needs.
1. Emphasize your security features
Safety grows increasingly important to renters as they age. Half of renters ages 65 and up considered security one of their top three factors when selecting a new residence, according to a recent renter survey by Apartments.com.
When advertising your community, highlight features such as smart locks, gated entrances, or security cameras. Does your neighborhood boast low crime stats? Mention this in your ads and during property tours.
2. Offer the amenities older renters want
Comfort and convenience are key for senior renters. In the recent survey by Apartments.com, these features ranked higher among older renters than other groups:
Smart home appliances. Senior renters are more likely to expect connected appliances such as smart fridges, thermostats, and lighting.
Air conditioning. More than any other age group, renters 65 and up consider A/C an essential amenity.
Private outdoor spaces. More than half of renters 65 and up indicated that a balcony, patio, or private yard was a requirement of their rental search. Make it clear which available apartments feature access to private outdoor space, and include attractive photos of these amenities in your listings.
3. Highlight the social features of your community
Of all renters, older renters are the most likely to live alone. Compared to only one in five 18- to 24-year-old renters who lives alone, over half of those ages 65 and up live without a partner, children, or roommates.
With this in mind, showcase the social opportunities your community offers. Spotlight your resident events, from game nights to yoga classes.
4. Keep your listings detailed
An overwhelming 96 percent of older renters want to know the relative location of their unit within the building when selecting an apartment.
Does the apartment face a busy road? Is the unit on the ground floor or top story? How far is it from the stairs or elevator? Include unit-specific information in your listings to highlight these essential facts upfront.
5. Advertise on senior-specific networks
If your community offers senior-specific housing, consider advertising on listing sites like After55.com, which specialize in age-restricted housing for older adults. These sites include independent living communities for active adults, as well as assisted living and continuing care retirement communities.
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