Tips for Introducing Gen Z Decor Into Your Next Investment Property
When you’re a property developer, one of the most important things to keep up to date with is the changing needs of renters and buyers.
Although millennials have been the key market for property developers over the past few years, we’re now starting to see the Gen-Z demographic become much more active in the property market – and property developers need to start catering to their needs if they want to keep on boosting their ROI.
In this article, we want to take you through some of our best tips for those who want to attract and retain these valuable tenants. Keep on reading how you can develop your next property with Gen Z in mind
Bedroom @ Marlayton
Understanding Gen Z
Gen Z is very different from millennials and the other generations that came before them. Some of the key things that Gen Z renters are known for include:
Focus on experiences: Gen Z renters care about the experiences they can enjoy rather than the material possessions they own. Because of this, they want to invest in properties that align with their values.
Tech savvy: Gen Z has grown up with the internet and is extremely used to new technologies, so expect seamless integration of technology in their living spaces, from smart home features to high-speed internet.
Sustainability consciousness: They are environmentally conscious and appreciate eco-friendly materials, energy-efficient appliances, and responsible waste management practices within their homes.
Individuality and self-expression: Gen Z are always looking for ways to express themselves and really value uniqueness. When they are looking for somewhere to live, they will choose spaces that reflect their unique personalities and allow for customisation.
If you are targeting the Gen Z market with your next project, the above points should be considered very early on in the planning process. If you need some help with this, bring Mardesign in early to the planning process to ensure all these considerations are met.
Styling @ Marweston
Tips for Developing a Gen Z-Friendly
Gen Z tenants know what they want and they are willing to pay a premium for properties that meet their needs. If you want to make sure you can demand high rental prices and attract Gen Z tenants, here are some of our top tips that you should bring to your development process.
#1 Think about multifunctionality
When you don’t have a lot of space to work with, having furniture that is multifunctional is essential.
Opt for furniture that serves multiple purposes, such as ottomans with storage compartments, convertible sofas, and murphy beds.
This allows a level of flexibility that Gen Z really appreciates. It means that a living room can easily be used as a co-working space, or a spare bedroom to host friends and family. It also ensures that every last bit of space is used to the fullest.
You could also look at modular furniture pieces that can be rearranged to suit different needs and activities. This empowers Gen Z renters to personalise their space in a way that suits them and adapt their homes to their evolving lifestyles.
Details @ Marlea
#2 Be creative when integrating technology
Invest in smart home features like smart thermostats, lighting systems, and door locks. These features offer convenience, energy efficiency, and a touch of luxury that appeals to Gen Z's tech-savvy nature.
It’s also really important to ensure your property has reliable high-speed internet access in every room. This is non-negotiable for Gen Z, who are much more comfortable with working from home, but also rely on the internet to socialise, learn, and entertain themselves
#3 Don’t compromise on sustainability
Gen Z has been one of the most vocal generations when it comes to the environment, so it pays to spend a little more to ensure your sustainability credentials are up to scratch.
Choose furniture and decor made from sustainable materials like bamboo, recycled wood, or organic cotton. You should also invest in energy-efficient appliances that reduce utility costs and minimise environmental impact.
#4 Make your properties stand out from the crowd
Gen Z is bored of the stark white interiors that many recently renovated homes have, so use this opportunity to get a bit creative and really make your properties stand out from the crowd.
At Mardesign, we’ve been able to work on lots of projects and have brought our individual design flair to create a unique space for the end tenants to enjoy. This is the approach we encourage everyone to take.
Start with a neutral colour palette as a base for walls and flooring, and then incorporate a few statement pieces that reflect the property's unique character. Leave a bit of opportunity for renters to add their own personal touches through artwork, furniture, and accessories, too.
If you want to play it safe, you may want to consider incorporating design elements that can be easily customised, such as removable wallpaper, pegboards, or open shelving, just to give your end tenants that little bit more flexibility if there’s anything they want to change.
Bedroom @ Marlea
#5 Create spaces that foster community and connection
In a world where we are all so chronically online, people expect a lot more from the places they live. As property developers, it’s up to us to create spaces that go above and beyond for our tenants and foster a sense of community.
For example, if space allows, consider creating a designated co-working space within your property. Not only does it give an extra space for someone to work from home that isn’t in their bedroom, but it can also bring people in an HMO together.
If you’re working on a larger development, also think about creating shared outdoor spaces, such as balconies, patios, or rooftop gardens. This provides opportunities for social interaction and connection, which is important for this social generation.
Elevate Your Projects With Mardesign
By incorporating these tips from Mardesign, you can create an investment property that not only attracts Gen Z renters but also boosts your ROI significantly.
Bedroom @ Marweston
Want to talk in more detail about how Mardesign can help you bring some of these trends to life on your next project project?
get in touch with us today.
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