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Results of Schlage's Industry Insight Survey Reveals What Millennial Renters Want in 2017
Access Control Cited as Top Trend with Gen Y Renters in Multi-Family Dwellings
Carmel, Ind.,  - Nov. 29, 2016 (PRNewswire) Millennials recently surpassed Baby Boomers as the largest living generation on Earth, and with millions continuing to put off traditional life milestones like home ownership, property owners are taking note. To reveal just what Gen Y looks for in a rental, Schlage®, a brand of Allegion which creates technologically advanced lock products to help multi-family property owners secure and manage their units while streamlining operations, has announced the results of a nationwide survey conducted with Wakefield Research of 1,000 U.S. renters in multi-family dwellings. Results include a desire for tech upgrades and the integration of next-generation access control systems as critical elements to entice renters.
 
Of millennial renters who live in multi-family dwellings, 86 percent are willing to pay more for a "smart" apartment, meaning one that is equipped with automated or remotely controlled devices, compared to 65 percent of Boomers. This is big, considering nearly half of American renters in multi-family dwellings expect to be renting an apartment for the next five or more years.
"As the multi-family marketplace continues to evolve with flexibility being a key factor in most living situations, consumers can feel confident ... more

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