Renters ages 55 and up constitute about 30 percent of U.S. renter households, according to Harvard’s Joint Center for Housing Studies. And this population is on track to grow. The Urban Institute estimates that senior renter households will reach nearly 13 million by 2040. While some older adults have been lifelong renters, others are leaving homeownership behind to choose the flexible and community-oriented lifestyle offered by renting.
Whether or not your properties specialize in senior living, renters ages 55 and up are an important renter population to understand. Here are nine ways you can promote your rental units to best appeal to older renters.
1. Show off your balconies and outdoor spaces
A balcony isn’t just a nice-to-have amenity. Over half of older renters consider it essential, according to a recent survey by Apartments.com. The survey featured over 5,000 U.S. adults ages 55 and up.
When asked which amenities they wouldn’t rent without, 54 percent of renters in this age group selected having a balcony, patio, or other private outdoor space. This compares to only 41 percent of those under 55.
If your available units come with their own balcony or patio, call this out in your listing and include photos to show prospective renters what to expect.
Help renters visualize themselves moving in by showing how these outdoor spaces can be used. When staging apartments, add outdoor furniture and plants to let renters imagine themselves having breakfast on the balcony or entertaining friends and family members on the patio.
2. Clearly identify which floor each unit is on
A ground-floor apartment isn’t the same as a top-story unit. Whether your prospective residents are looking to avoid stairs or enjoy a view, the building level their unit is on can make a huge difference in their experience.
That’s why this is such an essential detail for renters looking for their next place. And it grows only more important for renters as they age and face increasing mobility issues. Sixty-five percent of those 55 and up want to know the floor level for each available unit. And 49 percent want to see a map showing the unit location within the property.
When you’re listing an available unit, make sure it’s clear where the unit falls within the property. You can spell this out within your unit description, along with other key factors: “Ground-floor unit with private patio and an in-unit washer and dryer.”
To provide additional details, upload photos of the specific unit to help show this information. You can also add a building map that identifies the unit location within the property. And make it clear whether these units require any stairs or elevator access.
3. Highlight accessibility accommodations
Accessibility is about ensuring that all your residents, regardless of physical limitations, can safely live in and enjoy your community.
Do your bathrooms have grab bars and roll-in showers? Do doorways and hallways accommodate wheelchairs? Do your units offer stair-free access with ramps and elevators?
For one in five older renters (21 percent), knowing what accessibility accommodations are available in each unit is essential. That’s compared to only one in 10 among those under 55.
Highlight what accessibility features your available units do and don’t have. That way, renters can easily determine whether your property might be a good fit for them and decide which units would best meet their needs.
4. Spotlight your commitment to maintenance
The condition of your property is an important part of your curb appeal. Not only does a well-maintained building look more attractive, it also gives your prospective residents a valuable message: that property management is proactive and responsible.
Nearly seven in 10 older renters would stop considering a rental unit if they had concerns about its maintenance or condition, or that of the apartment building in general. Renters ages 55 and up are nearly 10 percentage points more likely than their younger counterparts to consider maintenance issues a deal-breaker.
Consider maintenance part of your marketing strategy. Just as you keep your online listing and property website up to date with attractive photos and the latest pricing information, your buildings and units should be regularly maintained to resolve everyday wear and tear.
From roofs and windows to in-unit appliances, maintain a strict schedule to inspect these areas and address any problems. Make sure residents’ maintenance requests are resolved quickly, and let prospective residents know how seriously you take this issue.
5. Be clear about pricing
Pricing matters to all renters, but for those ages 55 and up, budgets can be tight. Older renters are more likely to live on a fixed budget, since only 40 percent are currently employed and nearly half are retired.
Renters in this age group are more likely than their younger counterparts to have deal-breakers related to price. Eighty-one percent say they’d stop considering a property if the unit was out of their budget, and 62 percent say the same for unexpected fees that raise the total cost.
To help seniors budget their costs, give them full transparency into your pricing. Most renters of all ages prefer to see the total price with all fees included, rather than just the base price.
If this isn’t feasible because of optional or circumstantial fees, add your full fee schedule to your Apartments.com listing so that renters can easily see which fees might apply. You can even enable the interactive rent calculator to let prospective residents estimate their monthly and one-time costs based on their move-in date, lease term, and optional fees.
5. Offer multiple ways for renters to reach out
When prospective residents are interested in your property, how can they contact you or schedule a tour? Most renters are interested in communicating with properties through multiple channels, such as phone, email, and in person.
For renters ages 55 and up, email and phone are nearly tied for first place with nearly two-thirds of respondents interested in these options. Over half are interested in speaking in person, and 44 percent would like to text with a leasing agent.
The human element is key. Very renters overall — and even fewer over 55 — would like to communicate with an automated service, whether automated text messages or a chatbot.
Make your phone number and email address easy to find on your listing and property website, and respond to inquiries promptly. Most renters expect to hear back within two days.
For tours, too, older renters are interested in multiple options, with a preference for interacting with a real person. The overwhelming majority of renters ages 55 and up are interested in touring with a leasing agent in person (96 percent) and over a video call (82 percent).
But they’re also interested in self-guided tours in person (64 percent) and through an online 3D tour (80 percent).
Consider expanding your touring options to include virtual tours, with and without a leasing agent.
7. Showcase your safety and security features
When selecting a place to live, older renters are looking for safety. Over half — 55 percent — considered safety and security to be among their top three considerations when choosing a rental residence.
And nearly three-quarters say they’d cross a property off their list if they had concerns about crime or safety.
When advertising your available units, show why your property and neighborhood is a safe place to live. Whether it’s a gated entrance, low neighborhood crime ratings, or 24-hour security, put these features front and center.
And remember to show, not just tell. Make sure your property is well lit, especially along walkways and parking areas. Regularly maintain landscaping, gates, and other infrastructure to convey a secure and well-kept environment.
8. Highlight your proximity to grocery stores and medical care
Location is one of renters’ top considerations when selecting a rental residence. For renters ages 55 and up, two neighborhood amenities stand out: grocery stores and medical care.
Nearly 60 percent of older renters — and all renters — want to live near a grocery store. The convenience of making a quick grocery run appeals to every age group.
When it comes to medical care, however, older renters are 20 percentage points more likely than younger renters to consider this a priority. Well over a third — 37 percent — of renters ages 55 and up say they would only choose a place near medical care. This includes hospitals, their doctor’s office, and other facilities.
To appeal to senior renters, use your location as an asset. If you’re near a hospital or medical center, call this out in your listing and on property tours. And don’t forget to point out the nearest grocery stores and supermarkets.
Your Apartments.com listing will also automatically display the closest grocery stores and hospitals as nearby points of interest.
9. Build a strong reputation
What your current residents think — and say— about your property can have a big impact on whether prospective residents choose to sign a lease with you. For older renters, a property’s reputation is an especially important consideration.
Word of mouth is one of the top ways older renters find their next place. Nearly as popular as visiting a property’s website (used by 40% of older renters), talking to other people (cited by 39%) ranks third for this age group. These two strategies come in second place and a close third, after internet listing services (71 percent).
But it’s not just what friends and family members say that makes a difference. Properties with positive online reputations also typically convert more leads. Sixty-one percent of older renters say they would stop considering a property if they saw it had negative ratings and reviews.
To improve prospective residents’ impression of your property, make reputation management a key part of your leasing strategy. Regularly encourage current residents to leave ratings and reviews, and be sure to respond to this feedback — both positive and negative — in a timely manner. Use any negative feedback you might receive to improve your resident experience and show your residents that you value their input.
Want more renter insights?
For a closer look at how senior renters choose their next rental residence, explore the latest findings from a recent Apartments.com survey. Dive deeper into these topics:
- Location, Location, Location: How to Make the Most of Your Property’s Location
- Do Renters Trust Your Property Listing?
- What Renters Want — and What They Don’t
Expand your reach to senior renters
For a senior-specific rental search, the Apartments.com Network includes After55.com. This site focuses on senior living and retirement communities, with properties ranging from active adult communities to nursing homes.
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