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Multifamily Executive Has a Good Article and Gen Y | International Residential Real Estate Investors Association
Thursday August 17th 2017

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Multifamily Executive Has a Good Article and Gen Y

The Gen Y Phenomenon

The apartment industry has long anticipated the arrival of the image-conscious, tech-savvy Generation Y. But as this coveted demographic nears prime renter age, property owners are discovering a slew of shackles burdening the age group. This special report attempts to understand Gen Y.

By:
Les Shave

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2 Responses to “Multifamily Executive Has a Good Article and Gen Y”

  1. Cincy Rents says:

    My experience has been that they waste less of your time, they are already armed with facts since they are computer literate, they know what they want and they call for very specific rental needs. They typically carry school debt and they can’t afford frills when renting. They look for smaller units closer to work and are more frugal due to age, jobs which pay less than they did for previous generations and debt loads they have to accommodate.

    Construction for newer buildings will have to reflect that demographic if they want to be sustainable. Rents have to be affordable and smaller units will oblige that need and cost less in utilties along with green building technologies which might cut costs.

    Owners will get less per square foot per rental and they will have to be able to maximize the use of space and units will show compartments instead of large spaces.

    I see this as a positive development. I think it is more financially sensible and more sustainable in the future, especially with rising energy costs.

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