Incentivising Millennial Multifamily Ownership
According to a survey by a leading U.S. prepaid payment solutions provider, 52 per cent of U.S. millennials and Generation Z are delaying home ownership
The Swift Prepaid Solutions survey found that 65 per cent of millennial and Generation Z renters make buying decisions based on the availability of rewards and incentives, suggesting there is a significant opportunity to subsidize move-in incentives, spot awards and resigning bonuses.
Additionally, it found 71 per cent make purchases on their phones, meaning apartment properties need targeted incentives designed for mobile use.
An additional 82 per cent indicated they spend earned points on special offers delivered with rewards, creating opportunities for properties to drive resigning deals.
“Based on our recent findings, we are seeing an opportunity for multifamily housing to not only attract and retain millennial and Generation Z tenants but also delight them during and long after their residency,” said Swift’s vice president of sales, Joe Kooima. “Prepaid cards and mobile disbursements provide an ideal medium to do so, allowing companies to instantly provide the added value these generations are demanding.”
Swift Prepaid Solutions will attend the 2019 NMHC Apartment Strategies Outlook Conference in San Diego from January 28-29 to share additional findings and insights around its recent study with the multifamily industry.
About Swift Prepaid Solutions
Swift is leading the payments movement to greater value through high-impact brand connections at the intersection of the payment. Swift optimizes fast corporate-funded payments to businesses, their customers, employees, contractors, participants and channel partners through digital and physical card payments in 160+ countries, 17 languages and 10 currencies. www.swiftprepaid.com.
Swift is owned by Syncapay, a holding company “Investing In The New Frontier Of Payments.” Visit www.syncapay.com.