Demand from millennials and young professionals with higher incomes are major drivers of the current rental market in Kenya. Property owners could decide to redevelop or rebrand to include target-market needs and amenities.
If your property wants to target young professionals, here are 5 rental features that are emerging trends:
- Easy access to centre city jobs: – Easy travel to the main city centre is a key factor for young professional renters. Short commutes to town centres and multiple transportation options can boost interest in your rental.
- Competitive rental prices: – In a competitive market, it’s important to be cognizant of your competitors’ rates and take into account what other amenities they are offering that could capitalize on this renter market.
- Trendy area: – City centres and areas with an abundance of new restaurants, clubs and nightlife make for the best areas for millennials and young professionals. If your property is in an urban area, be sure to spotlight these areas in your marketing efforts.
- Social amenities:- An abundance of new restaurants, clubs and nightlife make for the best areas for millennials and young professionals. A fitness centre, clubhouse or common spaces for socializing are very attractive to this demographic.Young professionals are out and about working and networking most of the day. On the other hand, social amenities – areas in the property that can allow for entertaining and shared activity – become more valuable and necessary. Young professionals are out and about working and networking most of the day, so smaller apartments will fit their needs perfectly well.
Business centre: – Similarly, renters are demanding a co-living environment where they can entertain but also work. A common space for co-working and remote office work is an important element that this demographic desire.