Young Adults choose living with Parents vs living with a romantic partner

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Young Adults choose living with Parents vs living with a romantic partner

eggsTimes they are a changin’……again.

A new study by Pew Research Center shows that young people are choosing to live with their parents in a higher amount than ever before in modern history….even higher than living with a romantic partner.

Why the change?

Pew researchers suggest several factors, including declining employment among young men in recent decades and lingering effects of the recession. But the researchers said that the chief reason is a “dramatic drop in the share of young Americans who are choosing to settle down romantically before age 35” either with a spouse or a partner. 

“Forming a new family is not nearly as important as it was for young adults,” said Richard Fry, a senior researcher with Pew, a nonpartisan think tank that conducts public-opinion polling, and does demographic research.

So what does this mean for Landlords and Investors?  It could mean the following:

  • Your rental properties with a target demographic of this age group may be tougher to fill due to financial constraints of the tenants moving out of their parents basement into a rental.  Find ways to ease the cash flows needed to sign them up with perhaps staggered payments or include more appliances than normal in order to remove the need for them to purchase and install their own appliances.
  • Once you find good tenants for your rental property, don’t give them a reason to leave without serious consideration.  In other words, work with them when life’s hiccups arrive, as long as it doesn’t change the risk profile for the tenant or your tolerance level.
  • It could also mean that since they are waiting longer to start their own families that you’ll have multiple year leases out of the same tenant, thus reducing your turnover costs and reletting expenses.

Here’s the full article to read more: Adults living with Parents

 

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