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Baby boomers are becoming 30 percent of apartment renters, selling their large homes after they become empty nesters. U.S. Census Data gathered by RENTCafe revealed that from 2007 to 2017, there was a 43 percent jump in the number of renters who were over age 60 living in cities with at least 100,000 residents. Within the next decade, it is predicted that Baby Boomers will make up more than 30 percent of the rental market. What’s great about this statistic for multifamily properties is that Boomers tend to be financially stable and interested in stability. If they choose to rent with you, then it is likely they plan to stay awhile. Here’s what to keep in mind to attract this demographic:
Property Management for Luxury Apartments in Middle Tennessee
MMC Properties, Inc. has years of experience providing top-notch property management for both standard and luxury apartments. To see the difference working with a professional, local property management company can make, please get in touch with us to talk at (615) 849-9006!