Research has been carried out that shows more than a third of Millennial Tenants feel disconnected form the communities they live in. It is thought that this is more than any other age group. The survey was carried out by Arlington Research with a lack of connection with neighbors also being revealed. More than 65 percent millennials have admitted that they don’t know their neighbors, and 43 % have said that their neighbors don’t say hello to them.
The study has shown that 40% of millennials also agree that they would enjoy living in their home a lot more if they felt part of the local community. This figure is twice the amount of 45 to 54 year olds that were asked the same question. The statistics were announced at a time when the millennials have been confirmed as the generation that is destined to rent for longer. Therefore, it is quite worrying that it has been discovered that millennials are feeling a disconnect form their communities. A report has shown that 42% of millennials will own their own home by the time they reach 30, this is lower than the two thirds of baby boomers at the same point in life.
The length of the average tenancy in the UK is 18 months and it takes 22 days for landlords to find new tenants it is key for landlords that they keep millennials happier renting for longer in order to reduce the amount of time their property is left empty. The newly named ‘Generation Rent’ are a vocal group that think on their feet, therefore it is important that the rental sector and landlords make them feel like valued customers in order to encourage loyalty and therefore keep their properties occupied.
ENGAGE has developed a portal that will allow private residential landlords as well as housing associations to deliver super-efficient customer service to their residents. The portal is already active within 20,000 homes around the UK.
