Magnetic Refrigerators
Magnetic Refrigerators
Oak Ridge National Laboratory and General Electric have teamed up to create a revolutionary new type of refrigerator that uses magnets to create cold, also known as the magnetocaloric effect (lowering or raising the temperature of the material by changing the magnetic field).
Ultra-Efficient Heat Pumps
Ultra-Efficient Heat Pumps
The Building Technologies Office is ushering in the next generation of heat pump systems, which warm and cool your home by moving heat from one space to another. A fuel-fired, multi-function residential heat pump that can reduce primary energy consumption by 30 percent.
Clothes Dryers
Clothes Dryers
The same concept behind heat pump technologies that keep your home comfortable can also be used for another important application: drying your clothes. Oak Ridge National Laboratory and General Electric are developing a new type of clothes dryer that uses a heat pump cycle to generate hot air needed for drying.
Smarter, More Connected Homes
Smarter, More Connected Homes
We live in an increasingly connected world -- the same is true for our homes. New electronic devices and appliances can now be linked to the Internet to provide real-time data that makes it easier to understand and lower energy use.
Next-Gen Insulation
Next-Gen Insulation
Insulation is one of the most important ways to reduce your home heating and cooling costs. The Industrial Science & Technology Network is developing new foam insulation made with environmentally friendly and advanced composite materials that ensure heat doesn’t escape from the attic, walls and other areas of the home during cold winter months.
Advanced Window Controls
Advanced Window Controls
Lawrence Berkeley National Laboratory and Pella Windows are working on new highly insulated windows that use sensors and microprocessors to automatically adjust shading based on the amount of available sunlight and the time of day to ensure proper lighting and comfort, saving consumers energy and money.
Reflective Roofing Materials
Reflective Roofing Materials
Cool roofs coated with materials containing specialized pigments reflect sunlight and absorb less heat than standard roofs. Expect these types of roof systems to get even “cooler” due to new fluorescent pigments developed by Lawrence Berkeley National Laboratory and PPG Industries that can reflect nearly four times the amount of sunlight of standard pigments.

Energy-Saving Solutions

From heating and cooling to electronics and appliances, it takes a lot of energy to power our daily lives. Our homes use 37 percent more energy today than they did in 1980. But without energy efficiency -- through technology innovation and federal energy conservation standards -- this number would be a lot higher. In fact, even though our total energy use has grown, our energy use per household is down about 10 percent, despite that our homes are larger and contain more devices.

Save Energy Systems

16 October 2019

Renting to Millennials: What Landlords Should Know

Housing prices in the U.S. have increased by 7.2% over the last year and are expected to rise by another 5.1% within the next twelve months. It’s no surprise that this trend has made some Millennials think twice about purchasing...

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Housing prices in the U.S. have increased by 7.2% over the last year and are expected to rise by another 5.1% within the next twelve months. It’s no surprise that this trend has made some Millennials think twice about purchasing...

The post Renting to Millennials: What Landlords Should Know appeared first on HomeSelfe.

Housing prices in the U.S. have increased by 7.2% over the last year and are expected to rise by another 5.1% within the next twelve months. It’s no surprise that this trend has made some Millennials think twice about purchasing a home. In fact, about 40% of renters in the U.S. are Millennials.

Because there are so many Millennial renters, chances are that nearly every landlord will do business with someone from this generation at some point in the future. Here’s what you need to know about renting to Millennials:

Who is the Average Millennial Renter?

It’s important for landlords to understand who their potential tenants are, what’s important to them, and what they are looking for in a rental home. Every Millennial is unique, but many renters in this age range share common qualities.

The average millennial renter is:

  • Eco-friendly: takes care of the environment and is a conscious consumer.
  • Active: likes to practice sports and is constantly on the move.
  • Luxury-seeker: pampering and spas are what they look for.

Green Features

Set your property apart—and attract Millennial tenants—by highlighting green features of your property. For example, make sure Millennial renters know about your energy efficient appliances, solar panels, composting services, and other on-site green features.

Many Millennials are interested in living green, eco-friendly lifestyles, so these features will draw them in. Plus, three out of four Millennials admit they would pay more for sustainable goods, which means you could charge a premium for offering eco-friendly living.

Opportunities to Stay Active

Millennials are often referred to as “the wellness generation” due to their commitment to their health. Part of this commitment involves staying active, which is why landlords should market properties that offer opportunities to get moving.

This is fairly easy for multi-family properties with gyms or yoga rooms. But, what if you are trying to rent a single-family home to a Millennial? Focus on the opportunities to get physical in the community. For example, highlight the nature trails or community fitness center located around the corner in order to pique the interest of these renters.

Young woman rolls up yoga mat

Luxurious Amenities

Millennials look for rental properties that offer luxurious amenities, including:

  • Heated pools
  • Fitness centers
  • Multi-functional common areas
  • Outdoor grills and kitchens
  • Bike racks
  • Dog parks

If your property has any of these amenities, make sure potential renters know by focusing your marketing efforts around them.

How to Communicate With Millennial Renters

You won’t find interested Millennial tenants by posting your property in the classifieds section of the newspaper. This generation is tech-savvy, so landlords need to use technology to market their vacancies.

Make sure all of your property’s information is posted online. Include high resolution photographs that show every room in the property so Millennials can take a virtual tour of the space.

Many Millennials prefer emailing or texting over calling, so don’t require interested renters to contact you by phone for more information.

Use technology to keep in touch with Millennial tenants after they’ve moved in. Encourage your tenants to text or email you with questions or concerns about the property to keep the lines of communication open at all times.

Keep in mind that Millennials typically expect fast responses to their questions or concerns—so be prepared to respond to texts or emails in a timely manner.

Maintaining A Strong Landlord-Tenant Relationship

Millennials have unique wants and needs when it comes to where they live. But, landlords who take this advice will have no trouble finding Millennial tenants and maintaining strong relationships with them throughout the duration of their lease!

The post Renting to Millennials: What Landlords Should Know appeared first on HomeSelfe.


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