Like our last blog post, this one will also be targeting a specific demographic for your rental to target. Unlike the last one however, this one will be more adult focused -- in particular millennials! Just like before, determining your short term rental target audience, and figuring out what they like, can greatly improve their experience, and in turn leave you with glowing reviews: it’s a win-win! Obviously this kind of sounds like market research (and it is), but it’s actually super simple.
This first step to determining what a millennial looks for in a STR, you have to understand why the millennial is looking to rent in your area. Do you have any notable or famous clubs/bars in your area? Or is there a really trendy site that people are currently flocking to? All of these will help distinguish what millennials are renting your property. At the end of the day, you know your target audience is of legal drinking age, so the least you can do is leave recommendations of what bars and restaurants are close by. One thing you must consider when renting to a younger adult audience is the number of guests they will be bringing. This bit is crucial, and I can’t stress this enough. For the regular guest, they may bring a few friends, but you have to be wary of the bachelor(ette) parties, graduation parties, birthday celebrations or anything else that can cause a raucous. If you’re okay with people hosting parties/events in your property, then by all means continue to the next section of the post.
If not, make it abundantly clear that you are not wanting any damage or parties to occur in the rental. As well, if you’re like me and like to be on the safe side, I would recommend installing some smart devices such as noise alert devices, as they can notify you and the host if the volume is too loud. We previously wrote an article that mentioned a host’s nightmare that resulted in a massive amount of damage, when renting out to guests that held a party, as well as an article outlining what smart devices we recommend for a smart STR.
So, you’re okay with guests having parties in your rental, what now? Well, again, you should outline how many people you are comfortable with having over, and the extent to which they can party i.e the volume, how late they can play music, etc. These are all key things to discuss when renting.
Okay, but what about things to have in the rental? Well, like I mentioned earlier, you should include notable places to go along with restaurants and bars they may be interested in (quirky ones, or ones you prefer). Another thing to consider is the accessibility of the rental. Millennials are incredibly tech savvy, and would most likely prefer their rental to reflect that. Having smart lights, to set the mood, or a smart lock to access the rental can make a major difference for this demographic. You may be a bit worried about how to set up these devices, but not to worry! If you have any questions, YouTube is a great resource, but if you’re still confused, email firstname.lastname@example.org.