GlobeSt.com: What are the differences between what millennials and boomers are seeking?

Bland: Surprisingly, there are not many differences. Both generations are looking for amenities that offer convenience and a sophisticated lifestyle upgrade. Property amenities and features that were not as high of a consideration for owners in years past have now become priorities. For instance, tollways and expressways, parking garages and security features, walkability to shops and restaurants, pet parks and dog walkers, and 24-hour package systems have become increasingly important to property residents. When it comes to interior design, our renters are searching for stylish upgrade features such as custom backsplashes with granite or quartz. With all the home design shows on television, both millennials and boomers are influenced by this trend and want the luxurious home interiors but in an affordable space.

GlobeSt.com: How do you resolve and prioritize these value-add amenities?

Bland: As our residents' lifestyles become more about modern conveniences, daily necessities and high-end amenities, we are constantly adapting to those desired features. We know from prospect and resident feedback that they want choices. Options such as a custom backsplash, wood-style flooring in lighter and darker colors, cabinet options that are not just white or black but gray and providing appliances like washers and dryers are important to our renters.

One of the popular amenities that is featured at a few of our communities is Pantry in a Pinch. Residents frequently use these pantry-type vending machines. We continue to listen to and value input from our residents and what they want from their community and management.

GlobeSt.com: On the property level, have you noticed any differences in how you cater to the different demographics, for example, communication, events, etc.?

Bland: There are definitely differences in how millennials and boomers communicate. Boomers are becoming more tech savvy, however millennials can still teach us all a few things. Millennials use online sites and apps to do everything, including fill out forms, pay rent, sign legal documents and request service in their homes. Boomers tend to value face-to-face conversations more than millennials, but the number of boomers paying rent online and signing leases via e-signature is increasing. To this day, we still send notices to a resident's door as a standard form of communication, however, we also send emails through our resident software and use texting services to help reach each person according to their preferred methods of communication.

As for events, residents of all ages are looking for interaction with neighbors and social events. They tend to engage in conversation with others who are in a similar age range and social circles, but ultimately, millennials and boomers respect each other's living environment and situation.

And at the end of the day, everyone, no matter the demographic, wants to know they are being treated fairly and with respect, and receiving great customer service. We ensure these values are inherent at all levels of our management group, and within our training department and leadership teams. Everyone is a brand ambassador for our properties when interacting with residents and prospects.

DALLAS—The life-changing decision to purchase a home keeps many millennials from taking the plunge. Those brave enough to test the waters might find themselves being pushed out of the competitive Dallas housing market, known for its soaring prices and limited inventory.

On the opposite end of the spectrum, baby boomers, many of whom have become empty nesters, are looking to downsize and to live as debt free as possible with increased flexibility for travel and lifestyle conveniences. The crossroads of these two generations has often landed them in the same place– multifamily housing. While there are vast differences between the two groups, Stephanie Bland, vice president of operations at Knightvest Management, explains how they're not so different when it comes to renting.

GlobeSt.com: In what parts of the metro are millennials and boomers converging?

Bland: Because boomers and millennials search for multifamily housing based partly on location but mainly on budget and conveniences of the community, we've seen our urban and suburban communities have a healthy mix of demographics. Whether a community is a value-add community or new construction development, the budget-minded boomer and millennial have diverse community options and amenities from which to choose.

GlobeSt.com: What are the differences between what millennials and boomers are seeking?

Bland: Surprisingly, there are not many differences. Both generations are looking for amenities that offer convenience and a sophisticated lifestyle upgrade. Property amenities and features that were not as high of a consideration for owners in years past have now become priorities. For instance, tollways and expressways, parking garages and security features, walkability to shops and restaurants, pet parks and dog walkers, and 24-hour package systems have become increasingly important to property residents. When it comes to interior design, our renters are searching for stylish upgrade features such as custom backsplashes with granite or quartz. With all the home design shows on television, both millennials and boomers are influenced by this trend and want the luxurious home interiors but in an affordable space.

GlobeSt.com: How do you resolve and prioritize these value-add amenities?

Bland: As our residents' lifestyles become more about modern conveniences, daily necessities and high-end amenities, we are constantly adapting to those desired features. We know from prospect and resident feedback that they want choices. Options such as a custom backsplash, wood-style flooring in lighter and darker colors, cabinet options that are not just white or black but gray and providing appliances like washers and dryers are important to our renters.

One of the popular amenities that is featured at a few of our communities is Pantry in a Pinch. Residents frequently use these pantry-type vending machines. We continue to listen to and value input from our residents and what they want from their community and management.

GlobeSt.com: On the property level, have you noticed any differences in how you cater to the different demographics, for example, communication, events, etc.?

Bland: There are definitely differences in how millennials and boomers communicate. Boomers are becoming more tech savvy, however millennials can still teach us all a few things. Millennials use online sites and apps to do everything, including fill out forms, pay rent, sign legal documents and request service in their homes. Boomers tend to value face-to-face conversations more than millennials, but the number of boomers paying rent online and signing leases via e-signature is increasing. To this day, we still send notices to a resident's door as a standard form of communication, however, we also send emails through our resident software and use texting services to help reach each person according to their preferred methods of communication.

As for events, residents of all ages are looking for interaction with neighbors and social events. They tend to engage in conversation with others who are in a similar age range and social circles, but ultimately, millennials and boomers respect each other's living environment and situation.

And at the end of the day, everyone, no matter the demographic, wants to know they are being treated fairly and with respect, and receiving great customer service. We ensure these values are inherent at all levels of our management group, and within our training department and leadership teams. Everyone is a brand ambassador for our properties when interacting with residents and prospects.