In a study done by Multifamily Executive, Gen Z renters make up 23% of the renting population. At an average age of around 21 years, and making up nearly a quarter of the renting population, it's time for multifamily operators to start transitioning to meet the needs of the younger renting generation.
Attracting Gen Z Renters with Smart Apartment Technology
As the first generation to grow up entirely around technology, these renters expect to have smart hardware and amenities as a staple of the apartment they choose. Here is some of the top smart apartment tech that can draw Gen Z renters to your property:
Smart Locks
Safety is key, and keys are unnecessary. A number pad or fob are 10x easier to deal with than a key on a keychain, and they give renters access to other areas around the property that have similar hardware. Quext IoT uses state-of-the-art locks to grant access to single units and common areas on the property. Not only that, but the locks can also be controlled remotely.
Smart Thermostats
These renters are students and employees who are usually gone from their apartments on a consistent or totally random schedule. Having the flexibility to control the temperature of your home from anywhere through your smartphone is key. Quext IoT operates with a patented smart thermostat that acts as the hub for a resident's IoT features.
Property-wide WiFi
Gen Z, the generation of connectedness, is apt to move about the property to socialize or hang out, and would want their WiFi to follow them. A property-wide internet connection enables residents to get out of their apartment and into common areas to mingle with their neighbors, without sacrificing their personal WiFi connection. For a generation that has grown up with the internet, a network connection that supports them and their social lifestyle is a necessity.
Smart Lighting
Who hasn’t found themself laying in bed, ready to catch some Zs, but too sleepy to get up and hit the light switch? That’s the value of smart lighting; even if it’s just for convenience’s sake, being able to control apartment lighting from your phone is a game changer!
Package safety
Ah, the beloved Amazon package. Our good friend, billionaire, and fellow space enthusiast, Jeff Bezos, can deliver our online orders in 1 or 2 days, but he can’t protect them once they arrive at our front door. Most people also don’t have the time or resources as YouTuber Mark Rober to teach package thieves a lesson, so a safe location for package storage is a real draw.
Stimulating Community Engagement for Thrill-Seeking Young Renters
Community engagement for young people is important, and key to keeping a renter long term. Generation Z is a young generation who takes time with friends in different situations very seriously. Parties, events, and celebrations are all ways to keep young people involved in the community. Keep the experience of your property unique and entertaining, and you’ll have these Gen Z renters for a lifetime.
Understanding Gen Z Slang to Become More Relatable
Lastly, the most important thing to understand about Generation Z is their slang.
Picture this, you’re 30+ years old and giving a tour to a Gen Z individual. You walk into the apartment and show them around the living room. The individual looks you right in the eyes and says, “Yo, this apartment is fire bro, no cap." How in the world do you respond, and what do “fire” and “no cap” mean? Let’s start with a translation, the individual is expressing their excitement towards the nice apartment and saying, “Hello sir, this apartment is very nice, I am not kidding.”
Let’s try another one for testing purposes.
“This gym hits different. It’s a vibe, for real.”
Which translates to, “This gym is different in a very good way. I will definitely work out here. That is a fact.”
See, not so hard, right?
If by now you are still having trouble keeping up with the language barrier between millennials/boomers and Gen Z, I recommend downloading TikTok or visiting this article on the 30 most common Gen Z slang words.
In all seriousness, Generation Z will soon grow way beyond one quarter of the renter population, and it is time to start preparing properties and services for these younger, more technologically advanced renters. Use the above tips and equip your units with smart apartment tech that encourages Gen Z renters to stay long-term.
