Millennials are more likely to rent a home than prior generations, but that doesn’t mean they’re necessarily happy about it. The Great Recession of a decade ago put many millennials in a financial hole that they’re still digging out of, for one. It’s also a matter of supply and demand, as there are too many people who want houses and not enough inventory to go around. These trends put landlords in a tricky position, as they want to convince potential tenants that renting is truly the best of all the available options. They don’t want renters to regret signing a lease. If you’re a landlord looking to give tenants reasons why renting is better than buying, then here are three worth mentioning.

Reasons to Rent

Protection From Another Housing Bubble

The Great Recession was caused in large part by bad loans and an unsustainable housing bubble. Right after the turn of the millennium, housing prices were going up in a way that made both homeowners and banks overconfident. Subprime lending meant that people were getting loans for houses they couldn’t afford. So when the housing bubble finally burst, it wrecked the American economy. Foreclosure rates shot up, and banks had to either close or obtain bailouts.

It would be nice to think the people in charge of America’s economy learned their lesson, but that may not have been the case. In September 2018, CBS News reported “three growing headwinds” in the housing market, including a lack of affordability and low home ownership rates among certain demographic groups (including millennials). That doesn’t mean a housing crisis is imminent, but if it does occur again, then there are going to be a lot of people left holding the bag on mortgages that are now underwater. An underwater mortgage happens when you owe more on the house than its current valuation.

Easier Access To City Life

We all like to complain about our commute. It’s a way to bond with friends and strangers alike. The average American commute has been getting steadily worse since at least 2010. The number of workers who can brag about a commute that takes 10 minutes or less has shrunk. Worse yet, the number of workers who have to spend 90 minutes or more commuting has gone up by 8 percent.

Remind tenants that renting an apartment in the city makes commuting to their downtown office much more manageable than it would be if they had to go the next county over just to buy a house. There’s also so much more culture in a city than in the surrounding suburbs, which is helpful for renters in their twenties and thirties. The idea of walking home from the bar after having drinks friends makes filling out an online rental application that much more appealing.

Someone Else Worries About Maintenance

When a homeowner’s kitchen sink springs a leak, they have to call a plumber and maybe even take a day off work to ensure the plumber can get inside the house. But when that happens to an apartment dweller, all they need to do is pick up the phone and call their landlord’s office. If it’s not urgent, they can even submit a maintenance request online. Assure your prospective tenants that trained groundskeepers will be in charge of maintaining the common areas surrounding the apartment. Renters don’t have to get home from a long day at work and drag the lawnmower out of the garage because the grass is getting too high.

That’s not to say apartment-life is worry free. Landlords should require all tenants to obtain renters insurance in New Jersey so that they’re protected in case of a fire or other emergency. You should also expect that renters aren’t going to leave the property trashed when they move out. But, at the end of the day, renting requires a lot less maintenance work than the alternative.