Generation Z is defined as people born from the mid-1990s to the early 2000s. Generation Z make up 25% of the U.S. population, and have quickly become the largest generation since the Baby Boomers.
What Generation Z is looking for:
Technology: They are the first generation to live their entire lives in a world of smart phones, internet connectivity and social media platforms.
Mobile Capabilities: Not only does Generation Z rely on the internet for most needs, they also use mobile devices to search for goods and services to a much greater extent than their predecessors.
Electronically: Given their highly mobile lifestyle, property management should be prepared to exchange all information with Generation Z electronically as a rule of thumb. This likely includes leasing documents, utility/vendor information, renewal documentation, rent payments, and all property communication.
Quick Turn Around: Given their connectivity, Generation Z is used to getting what they want, when they want it. Waiting days for communication from on-site community staff isn’t going to fair well.
Although this generation hasn’t hit the rental market in full force yet, over the next few years you’ll be seeing a lot more of them! Are you ready for Generation Z?
