How to Target the Age Group of 55+ as a Landlord?
The community of men and women over the age of 55 is a string group of renters who are also interested in high rental value homes. They also happen to be a darling of landlords as they make up very good tenants. They are mature, reliable, and interested in living in rented homes for long time periods. This community boasts high income levels and it is also socially more responsible than young adults. If you are interested in attracting people of this age group as tenants, here are some things that you should always keep in mind.
Make your rental property pet friendly
Majority of men and women over the age of 55 own a pet. Pets for lonely mature adults are like companions who provide them comfort and security. If you do not have stringent rules for pet owning tenants, you can expect to attract many men and women over the age of 55 in your property.
Give them a sense of high level of security
It is a fact that a high percentage of victims of petty crimes are adults over the age of 55. They are easy targets by criminals. If you can take steps to provide extra security of people of 55+ in your rental property, they would find your property attractive for living. Electronic and manual surveillance, alarm systems, and enough outdoor lighting are some measures that can help in instilling sense of security in these older individuals.
Keep traditional modes of communication open
Young people are tech savvy and they prefer to communicate using electronic gadgets and latest technology. But people who belong to the age group of 55+ still prefer to communicate using telephone calls and text messages. They may also make rent payment through checks rather than online or mobile payments. Make people of 55+ age group feel comfortable and you can make your rental property attractive for them.
Easily accessible property
Men in women in the age group of 55+ do not like to make effort in reaching the rental property. Younger tenants have more energy and they find it easy to get around, but this is not the case with older men and women. They prefer their rental property to be easily approachable and accessible. If there is anything you can do to make life easier for 55+ men and women, it will be welcomed by your target group of tenants.
This group hates discrimination
Older men and women are mature and socially responsible individuals. You should be welcoming to all races and religions and must not discriminate against any ethnic group if you want to make your property friendly for the age group of 55+. Also, Fair Housing Laws clearly state that you cannot discriminate against younger people and deny them a chance to become tenants in your property unless you qualify for senior housing. Be fair to people of all age groups. By adding some extra facilities, you can make your rental property more attractive for people of older age group.
You have succeeded in your efforts if you can make older men and women feel comfortable and relaxed in your rental property. Make these men and women feel welcome in your property if you are interested in attracting them as tenants.
If you’d like to talk more about property management, or you need help with Everest Property Management, please contact us at Everest Realty.
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As a top producing Realtor and Property Manager; Terry specializes in sales, extensive construction homes, rentals, REO’s, short sales, and all aspects of Real Estate. After graduating the University of Michigan with a master in MBA, Terry continued his endeavor and now has over 15+ years of experience in the Real Estate world. If there is anything that has to do with Real Estate and sales, you can always be sure of Terry to provide important, specialized knowledge.
