A new generation is ready to dominate the Multifamily market! Since the start of the pandemic, Gen Z began surpassing Millennials as the largest renter cohort. Support your Multifamily partners' initiatives by getting the inside scoop on what Gen Z is looking for in a rental unit. These insights can help increase rental income and retention rates.
Gen Z’s preferences — influenced largely by the pandemic’s impact on daily living — will shape the future of apartment living. As rental housing continues to be a lifestyle choice for many, Gen Z’s impact will help influence the amenities, location, and style of apartment communities for years to come.
As you envision future projects, it’s time to start thinking about how you can appeal to this generation’s lifestyle. According to the National Apartment Association, the top 10 amenities Gen Z looks for when selecting an apartment are below.
- Guaranteed parking
- Shared outdoor spaces
- High-speed internet connection
- Walk-in closets
- In-unit laundry
- Co-working spaces
- Security and control features
- Packaging room
- Balconies
- Hardwood floors
Walk-in Closets
With rental prices rising, Gen Z expects high-end products and living quarters. What does this mean for you? The opportunity to provide your Multifamily partners’ with upgraded storage and organization solutions to satisfy their residents’ demands.
Residents are tired of small closets with wire shelving and are seeking a better solution that is more customized to their lifestyle. The difference can be substituting the typical wire shelving with fixed wood shelving. Organized Living’s VUE® is a refined fixed wood shelving that provides the look and strength homebuyers expect. VUE is the new standard for builders and the perfect setup for homebuyers who prefer solid shelving over the wire.
Co-working Space
Also influenced heavily by the pandemic are co-working spaces in residential buildings. As older Gen Zers transition from college students to full-time employees, remote work has become the unusual standard. This new standard has a lot of Gen Zers looking at their living spaces differently and seeking multifunctional rooms. If a residential building has a lobby or unused recreational room, these could be revived rooms by adding chairs, tables, and desks.
Packaging Room
Amazon, Facebook, Instagram, TikTok, and Google make online shopping even easier to do. Residents want to feel confident knowing their packages make it safe and secure. A quick fix to this is utilizing unused space near building entrances. Add video security systems, intercom systems, and shelves for a successful package area. Our full breadth of product lines has the capability to fit the space and size your building may need.
If you’re interested in learning more about how you can grow your business in the storage and organization category please reach out to your Sales Representative or Dealer Support Specialist today.