Different generations of people have distinct values, lifestyles and communication preferences. And as property managers, we need to understand the perspectives of each group and adapt accordingly to best serve the tenants in our rental properties.
On this edition of Five Minute Friday, Bob walks us through the five generations a landlord or property manager might interact with, from Traditionalists to Generation Z, explaining why it’s crucial for us to recognize and accommodate generational differences.
Bob shares the characteristics of Traditionalists, Baby Boomers and Gen Xers, discussing why each group might be looking for a rental property and how they differ in terms of communication preferences. Listen in for insight around marketing to Millennials or Generation Z and learn how life experiences influence what a tenant is looking for in a rental property.
[0:43] Why it’s crucial for a landlord to understand generational differences
[1:19] An overview of the five major generational groupings
[2:07] The characteristics of a Traditionalist and why they might be looking for a rental property
[2:31] What to expect from Baby Boomers in terms of communication preferences
[3:23] The attributes of Gen Xers and when they might be in the market for a rental property
[3:53] What differentiates Millennials and what to consider in marketing rental properties to this generation
[4:34] How Generation Z has grown up using mobile devices and how that impacts the way they communicate
[5:21] Bob’s insight on the life experiences of each generation and how that influences what they’re looking for in a rental property + how they prefer to communicate
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