We find ourselves spending so much time and energy attempting to figure out new ways of attracting millennial renters and buyers. In fact, we spend so much time that we often neglect some of our other generations. According to a recent study by RentCafe, our senior population is the fastest growing group of renters. It is projected that by 2035, seniors will account for a third of the U.S. rental market. With high homeownership costs, seniors are choosing to downsize from their family homes to more affordable options or even rentals. So with this in mind, we would like to share some information on targeting senior renters.

Remember who your audience is. Take a moment to think about what is important to our seniors. They not only care about affordability, they need it. Many of them are on a fixed income and therefore tend to be more careful with their money. Also, be strategic about what you’re advertising. For example, millennials want proximity to public transit and easy access to where they eat, play, and work. Seniors have different priorities. Emphasize the close proximity to the local senior center, mention the health clinic that comes by to provide free services to seniors, or talk about the low crime rate in the area. These are unique amenities that tend to be attractive to seniors.

Lastly, hire an experienced property management company that can implement these marketing and advertising ideas on your behalf. MGR Property Management provides a full range of services that ensure your vacancies are filled and that your tenants are satisfied.