Covid-19 and the Effects on Today’s Renter

Covid-19 and the Effects on Today’s Renter

Before 2020 went on lockdown and the economy along with it, the rental proposition was still in need of restructuring. Developers focused on what they thought was the emerging millennial generation, sometimes described as, “entitled,” or “self-serving,” but unfortunately they were missing the mark. That’s not describing millennials, but rather an overly broad stroke encompassing Gen Y and Gen Z. Millennials are growing up, (between the ages of 26-40 now) creating businesses, and families. The need for flexibility, convenience, amenities, walkability, and affordable housing will continue to grow with this demographic, and will likely grow with Gen Y and Gen Z as well. Additionally, with the efforts to stop the spread of COVID-19, it is now more important than ever that industry leaders across the board meet the demands of consumers for digital services, on-demand resources, and adaptability. The modern-day renter is in search of affordable housing, in safe and up-and-coming areas, at affordable rates, and a single-source platform for usability, appreciation and ease.

Moreover, today’s tenants are attracted to conveniences rather than curb appeal and large layouts. Our tech-based world is driving busy lifestyles and the need for faster commutes, walkable amenities, transportation services, and entertainment. The rental model should be equipped to handle these expectations, and provide renters with incentive-based programs that digitally enhance and support their needs. Single-source platforms offering products and services are becoming more sought after, and Leasera is leading the way for the modern-day renter. As we move forward and see the economic changes coming, the volume of renters and the option for flexibility and access will only continue to grow. It is our job to support this demographic as they navigate the housing market.

Supporting the Modern-Day Renter Now

SUPPORT that serves renters as well as property managers or owners.

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