It’s well established that Millennials, defined by Pew Research as those born between 1981 and 1996, now make up the largest segment of renters in the U.S. They have surpassed both Gen X and Baby Boomers.
According to data from the National Multifamily Housing Council (NMHC), Millennials account for over 50% of current apartment rental applications in urban markets. This generational change creates major challenges and opportunities for property managers.
Instead of relying on broad marketing, success now depends on targeting renters more precisely through behavioral data. For example, real estate technology firms like Funnel and PERQ use predictive leasing platforms that analyze search behavior, credit trends, and tour conversions to personalize leasing offers for Millennial renters.
This guide covers strategies to attract and retain Millennials, focusing on hyper-local content marketing, resident technology that improves the living experience, and retention programs that outperform outdated leasing tactics.
Who are Millennials and what do they want?
Although Millennials represent one of the biggest demographics for apartment renters (a number that will only grow as they get older), they are also one of the most finicky groups. A new study found that over 60% of millennial residents expected to move out of their apartments after just one year. So, how do you keep them and get them to renew their lease? First, you have to understand what they want, what they value, and what’s most important to them in an apartment complex.
When considering your target audience and creating resident personas for your multifamily property, be sure to think about your average millennial resident. Like all residents, they try to make decisions based on their values and the kind of lifestyle they want to live, but what they value may be different than other demographics. Millennials often consider sustainability, access to nature or exciting city life, diversity within their community, walkability, and pet-friendliness just as much as they think about the amenities and affordability of the apartment community itself.
Out of the top three things they prize (walkability, easy communication, and pet-friendly apartments), all of them reflect on millennials’ values.
Understanding Gen Z Renters
Gen Z renters are entering the market with higher expectations than Millennials. They want the entire leasing process, including virtual tours, applications, e-signatures, and rent payments, handled online. They also judge management by authentic reviews and resident-generated content instead of polished advertising. Many also lack experience with basic maintenance tasks.
Managers often share stories of Gen Z tenants reporting “electrical issues” when a light bulb burns out. A move-in guide or short video tutorials for common tasks, such as changing filters or using appliances, can reduce frustration for both tenants and managers.
Many Millennials are frustrated about paying $40 to $75 in application fees at several properties, only to be denied due to strict screening rules. This builds distrust toward property managers. Offer application fee credits that renters can apply to move-in costs if approved, or partner with screening services that let renters reuse reports for several properties. This small change can help your property stand out as renter-friendly.
How to Market Rental Properties to Millennials
To market to Millennials, property managers should build campaigns on three pillars: digital discovery, lifestyle alignment, and transparent communication. Digital discovery includes rental websites designed for search engines, mobile-first layouts, and presence on platforms like Instagram and TikTok. Lifestyle alignment highlights walkability, pet-friendly amenities, and eco-friendly features in listings and ads.
Transparent communication means showing clear rent breakdowns and using text portals for quick responses. If this is something you cannot manage or do not have a team for, Market Apartments partners with property managers to centralize these marketing strategies and provide a single dashboard for all their marketing.
Lease Renewal and Rent Increases
One of the biggest challenges for property managers is balancing rent increases with tenant retention. Data from the National Apartment Association shows turnover costs range from $1,000 to $5,000 per unit, including repairs, cleaning, marketing, and vacancy periods. For reliable tenants who pay on time and maintain their unit, small rent increases of 2 to 4 percent each year are usually more sustainable than large jumps.
Many experienced landlords recommend keeping loyal tenants slightly below market rate to avoid the certain costs of turnover. Framing renewals as a partnership, and emphasizing the savings tenants get by avoiding moving expenses, can build trust and loyalty.
Many Millennials hesitate to sign long leases because of job changes or uncertain future plans. Offering flexible terms, such as month-to-month options or shorter leases, can ease that hesitation.
Zillow data shows renters under 35 are almost twice as likely as older renters to prefer flexible lease terms. Even if rent is slightly higher for short leases, the option can reduce vacancy by attracting cautious tenants who might otherwise wait to sign.
Financial Stress & Trust-Building
Millennials carry more student loan debt than earlier generations, averaging $33,173 according to Federal Reserve data. This debt affects how they view rent increases and lease terms.
To build trust, managers can provide clear rent breakdowns and explain the value compared to moving costs. Highlighting cost-saving amenities, such as free WiFi in shared spaces, can reassure renters that they are getting real value.
Renters often budget only for base rent and are then surprised by high utility bills or hidden fees such as trash collection and pest control. This often causes renters to become dissatisfied soon after moving in. Provide an “all-in monthly estimate” that includes average rent, utilities, and mandatory fees for a standard unit. Being transparent helps Millennials trust your pricing and reduces complaints after move-in.
Retention and Relationship Building
Rent pricing matters, but most tenant turnover comes from service failures rather than cost alone. Surveys show that slow maintenance response is the main reason for negative reviews and move-outs. Clear service standards, such as acknowledging requests within 24 hours and fixing urgent issues within 48 hours, build tenant trust.
Text and portal tools make reporting easier. Pairing them with follow-up messages, such as “Your request is scheduled for tomorrow at 10 a.m.,” reassures tenants that you value their time. Responsiveness and clear communication improve retention more than any single amenity.
Some properties now employ a “resident experience manager” who focuses on resident retention. Instead of handling maintenance or leasing, they organize events, track resident satisfaction, and ensure tenants feel heard. This role may not work for every property, but assigning a team member to check in regularly with residents can still reduce turnover.
Noisy Neighbors & Lease Violations
Beyond maintenance, another factor that drives move-outs is how managers handle disruptive neighbors. Millennials and Gen Z renters often value community harmony as much as they value amenities. Best practices include:
Documenting all complaints in writing.
Issuing graduated responses such as friendly reminders, official warnings, and lease enforcement.
Offering mediation before escalation can resolve disputes without leading to turnover.
Consistent enforcement reassures tenants that their concerns are taken seriously and helps prevent small issues from becoming retention risks.
Millennials Care More About the Environment
Say what you will about millennial residents, but they really value environment-saving tactics. Because of this, many millennials bike, walk, or take public transit to school/work/etc. Location next to public transportation is a huge plus for them, as is a location near bike routes or schools. In your advertising, be sure to highlight environmentally friendly features such as recycling, proximity to bike trails, additional bike storage, or energy-efficient appliances. Advertising these on your social media sites will drive Millennials toward you, and help you keep your existing tenants.
Digital & Social Media Marketing
Property managers often ask if platforms like TikTok or Instagram lead to leases. The answer depends more on the content than on the platform. Younger renters scroll past polished ads and stop for authentic, story-driven content. Short videos of real resident experiences, pet-friendly events, or a day in the life at your property perform far better than generic sales pitches.
For example, at Market Apartments, our team saw inquiries double after launching weekly resident pet features on Instagram called Friday Fluff. If you’re just starting, choose one channel your renters already use and commit to consistent, relatable content. Paid ads can work when combined with this community-first approach.
Social Media ROI & Troubleshooting
Property managers often get frustrated when they spend money on paid ads that bring few or no leads. The problem usually comes from a mismatch in ad creative, not the platform. If ads look like plain sales pitches, younger renters will scroll past them.
To improve return on investment:
Keep videos short, about 15 to 30 seconds.
Use authentic footage, such as residents, pets, and real events.
Run A/B tests on two versions with small budgets before scaling up.
Industry benchmarks show that strong Instagram housing ads often generate $5 to $12 per lead, while weak targeting can push costs over $50. If your cost per lead is higher than this, refine your targeting or allocate the budget toward organic, story-driven content.
Authentic & Inclusive Messaging
Millennials notice quickly when advertising feels fake or exclusive. Inclusive messaging that reflects diversity in age, background, and lifestyle builds trust. Highlighting resident stories instead of stock photos makes your property feel more relatable.
According to Edelman’s Trust Barometer, 60% of younger consumers stay loyal to brands they see as inclusive and authentic. Housing communities follow the same pattern.
Local Lifestyle & Neighborhood Guides
Promoting the neighborhood lifestyle is often as important as advertising the property itself. Many Millennials choose apartments based on nearby restaurants, coffee shops, parks, and transit access. A simple neighborhood guide with recommendations from current residents strengthens both marketing and resident retention.
A J Turner Research survey found that 72% of renters value management that helps them stay connected to the local community.
Local Partnerships & Resident Perks
Partnering with nearby businesses to offer resident discounts builds relationships that benefit both sides. Examples include discounted gym memberships, free coffee refills at a local café, and coupons from a pet store.
These perks often cost little yet add noticeable value to the tenant experience. A quarterly “resident perks email” that highlights local deals can raise satisfaction and show residents that management cares about their daily lives.
Marketing Strategies For Millennial Urban Professionals
Urban Millennial professionals often rent apartments close to coworking spaces, gyms, and nightlife. Marketing to this group should highlight location advantages in listings, such as access to public transit or major employers.
Some communities run LinkedIn ads that target young professionals by job title and promote on-site work amenities like high-speed WiFi and private conference rooms. Partnering with ride-share companies such as Lyft and Uber for resident discounts can also appeal to commuters in dense metro areas.
Millennials Care About Their Pets
Did you know that 76% of Millennials own some kind of pet? If you have a pet-friendly apartment complex, tell Millennials about your policies! Highlight features like bark parks or dog washing stations.
Consider hiring a dog-walking service for your residents, and absorb the cost through monthly pet fees. Your residents care about their pets, so they’ll appreciate it if you show that you care as well!
Do Millennials Care About…Texting??
Yep! Millennials grew up with cell phones, and it shows! Millennials want the ease of fast communication, through phones and websites. Online resident portals enable residents to pay their rent online, submit maintenance requests, and apply online. The easier you make it for them to contact you, the more leads you’ll end up getting!
Millennials don’t just want the convenience of online communication, however. More Millennials now prefer the convenience of texting their landlords. Messaging services enable landlords to send group texts while maintaining a personal touch with each message. Landlords can also organize contacts into groups, such as pet owners, and send tailored messages to each group.
Websites, SEO, and Virtual Tours
Beyond social media, your website acts as the digital leasing office for Millennial and Gen Z renters. It is often the first and only point of contact before a leasing decision. A mobile-friendly site with fast load times and clear design builds trust and directly impacts lead quality. Strong visuals combined with ADA-compliant design ensure your property is discoverable and accessible.
A well-optimized Google Business Profile is critical for visibility in local search packs. Few property managers use tools like Google Posts or Q&A features. These provide prospective tenants with real-time answers and can influence click-through behavior. Investing in SEO for apartments goes beyond keywords. It includes structured data markup, image schema, and localized content strategies that expand your presence across Google surfaces such as Maps and featured snippets.
Virtual experiences influence leasing behavior more than physical tours. According to a RentCafe study, 67% of renters prefer virtual tours before visiting in person. Gen Z renters are 130% more likely to lease when they can explore units online first. Properties that use interactive 3D tours or guided live video tours see much higher engagement. These tools provide transparency and reduce obstacles in decision-making, especially for remote renters or those who prefer digital options.
Many Millennials want to tour apartments on their own time without pressure. Self-guided tours, which use a temporary digital code for entry, are growing in popularity. A report by Entrata found that 62% of renters under 40 would choose a self-guided tour if it were available. Virtual staging, which digitally enhances photos with furniture and decor, also increases leasing speed. Apartments.com reports that staged photos generate up to 38% more engagement than empty rooms, helping renters picture themselves in the space.
Amenities and ROI
Deciding which amenities to invest in can be difficult. Smart home features, such as keyless entry, smart thermostats, and leak sensors, have proven ROI. Surveys show 86% of Millennials are willing to pay more for apartments with smart features, often justifying rent premiums of about 5%.
Co-working spaces are another valuable amenity, especially now that remote work is common. Even modest improvements, such as adding high-speed WiFi in common areas or updating laundry facilities, can make older properties competitive without full renovations.
Best Amenities to Attract Millennials vs Baby Boomers
Comparing Millennials and Baby Boomers shows clear differences in amenity preferences. Millennials prefer smart-home technology, coworking lounges, pet-friendly spaces, and eco-friendly appliances. Baby Boomers value quiet living, elevators, security systems, and shared community spaces.
Both groups want convenience. Millennials will pay more for digital access and green features, but Boomers respond better to on-site staff and traditional upgrades.
Renovation Roadmap for Older Units
For properties with dated interiors, renovating everything at once is often unrealistic. Data from Rent.com shows that the most cost-effective upgrades that matter most to younger renters are:
High-speed WiFi and extra outlets that support remote work.
Modern lighting and fixtures, which refresh a unit without requiring a full remodel.
Updated kitchens and appliances, even mid-range replacements, strongly influence leasing decisions.
In-unit laundry when possible, or upgraded shared laundry areas when it isn’t.
By prioritizing these updates, managers can stretch budgets and still attract Millennial and Gen Z renters.
Handling Negative Reviews
Online reviews heavily influence Millennial and Gen Z leasing decisions. A single unresolved negative review can deter dozens of prospects. The key is to respond quickly and professionally, not to avoid criticism. Thank the reviewer for their feedback, acknowledge the issue, and explain the steps being taken.
Prospects often care more about how management handles the complaint than the complaint itself. Consistent responsiveness shows accountability and can turn a negative review into proof of good service.
Beyond Amenities: Building Loyalty Through Small Experiences
Many managers focus on major upgrades, but small, intentional gestures often make the biggest difference in keeping tenants. Consider creating a plan that turns everyday interactions into moments of connection.
Step 1: Anticipate Needs Before Tenants Ask
Send seasonal reminders with simple tips, such as “Change your AC filter this weekend. We’ve placed free replacements in the lobby.” This reduces maintenance calls and shows initiative.
Step 2: Create Rotating Mini-Perks
Instead of one-time move-in gifts, introduce low-cost rotating perks, such as monthly coffee carts, pet treat giveaways, or free bike tune-up days. Variety keeps residents engaged year-round.
Step 3: Recognize Long-Term Tenants Publicly
Celebrate lease anniversaries with a personal note or social media mention, if they agree. Recognition builds loyalty that can be as strong as financial incentives.
Step 4: Close the Loop on Feedback
If tenants suggest an improvement, such as better lighting or recycling bins, let them know once it’s implemented. Tenants stay when they feel their voice shapes their community.
This approach moves the focus from costly upgrades to consistent, people-centered interactions. In a market where Millennials and Gen Z expect both efficiency and authenticity, these small experiences can set your property apart.
Do you have ideas for millennial retention? Send them to us and we’ll feature your ideas on our blog!
If you have any additional apartment marketing queries, questions, or concerns, please don’t hesitate to contact us.
Related posts:
Categorised in: Apartment Marketing, For Property Managers
This post was written by Isabella Housel
Isabella Housel is a passionate and versatile professional writer with a deep love for words and a commitment to crafting compelling content that engages, informs, and inspires. With many years of experience in the industry, she has honed her skills across various genres, from creative storytelling to informative articles and technical documentation.