As multifamily homes and multipurpose apartment complexes continue to claim space in urban and suburban cities, developers are getting creative with amenities. The number of these properties is increasing, and so are renters’ expectations and standards when choosing where to live. More and more, residents are happy to pay for convenience and will choose their new home accordingly. If you’re a landlord, a developer or a property manager, slacking on amenities that were once considered high-end but are now more commonplace could pose a barrier to getting top dollar for your units.
Here are some once-unique apartment amenities that are quickly becoming mainstays.
1. Holistic Fitness and Wellness Amenities
Yes, renters have come to appreciate fitness amenities. But now, that also includes mental health and overall wellness amenities as well. For example, you may choose to create green spaces. These can be essential to residents’ overall wellness, especially in congested cities that don’t have much to offer in the name of nature escapes. But they are also beneficial in more suburban towns. More people are working from home, and having a convenient, enjoyable outdoor space to retreat to goes a long way for rejuvenating their mindset.
Additionally, if you offer on-site fitness classes, you might also choose to include meditation classes in your lineup. These days, it takes more than a stand-alone gym with treadmills and weights to impress renters. Offering group classes on-site (keeping COVID safety advice in mind, of course) or partnering with a nearby studio chain to offer a discounted rate (or even put a location inside your building) are great ways to attract renters.
2. Coworking Amenities
According to Forbes, by 2025, around 70% of the workforce will be remote at least five days a month. Coworking amenities are climbing to the top of the list of essential apartment amenities. Even for those who don’t work remotely all the time, getting work done from home when they need to is important. Buildings with fast and reliable Wi-Fi that’s reachable from all public areas in the complex will attract hard-working residents.
3. Pet-Friendly Amenities
Pets are family, too, and with more and more apartment complexes not permitting pets (or, at least not without a hefty fee), pet owners are hunting for accommodations that will ensure their pets are just as comfortable as they are. According to Apartments.com, in 2018, 68% of all U.S. households owned a pet, and 74% of all searches on the site included “dog-friendly.” And that was before the pandemic pet boom. Over 12 million households took in pets between March and December during the height of the pandemic. More pet owners mean more renters prioritizing pet amenities.
4. Entertainment Amenities
Apartments are not traditionally known for their entertainment spaces. But that’s changing. Take, for example, an apartment complex in Minnesota that added entertainment suites to accommodate downsizing renters who still wanted the ability to host gatherings and entertain friends and family. Not having the space for entertaining can hold many people back from finally downsizing, and eliminating that barrier opens doors to more potential renters.
Other amenities ideas include on-site movie theatres, bike rentals, and outdoor barbecue spaces. A joint research venture between CBRE and StreetSense also names maker spaces and creative community art workshops that build camaraderie between neighbors as rising trends.
5. Convenience Amenities
According to commercial real estate platform Newmark in their 2019 report, The Grocery Store Effect, “Apartments within the radius of grocery stores in mixed-use developments were able to elicit a rent premium much higher than those surrounding free-standing stores or stores located in shopping centers.”
It’s no wonder it became popular to build a corner market or small grocery stop into apartment complexes themselves, often partnering with big-box chains like Trader Joe’s or Whole Foods. But convenience amenities can go a step further, offering other on-site services such as dry cleaning, banks and ATMs, a restaurant or dine-in options from local restaurants and quick and easy access to public transportation.
6. Smart Home Automation Features
Last but certainly not least is smart home automation. Most people expect technology as an amenity to maximize the comfortability and convenience in their home. Residents who can connect to their home via apps prefer this. PointCentral can help with all of the following:
Smart HVAC Systems
Our smart HVAC system allows users to connect their A/C and thermostat to their phones via an app. This provides optimum efficiency and convenience because residents can control the temperature of their home even if they’re not in their home.
Controlled Lighting
This is another smart home feature and unique apartment amenity that’s useful for property managers and apartment-dwellers. By being able to control the lights in your apartment remotely, you can have an added level of security while saving on electricity costs, too.
Keyless Locks
Keyless locks are another unique amenity that makes access for both existing tenants and prospective renters much easier to manage. You use special codes to allow maintenance teams to access the building or schedule unattended showings to tour a specific unit.
The Bottom Line
Amenities once considered luxuries to apartment-dwellers are now expected, and renters want more out of their rentals. From smart home automation features to making spaces just as comfortable for pets as they are for humans, these thoughtful touches are becoming mainstays that can make all the difference for attracting long-term renters.
Hana LaRock is a content writer and copywriter with nearly ten years of writing in the real estate industry. She has contributed to websites including Apartment Therapy, Bigger Pockets, HomeLight, and Lab Coat Agents. Learn more at hanalarockwriting.com.
Sources:
Updater – 19 High-End Apartment Amenities Your Residents Will Love
Forbes – This Is the Future of Remote Work in 2021
Apartments.com – Fetching an Edge with Pet-Friendly Apartment Amenities
New York Times – The People Who Got Pandemic Puppies Were in Over Their Heads
Star Tribune – Twin Cities Developers Add Entertainment Suites
CBRE – Multifamily Innovation Amenities to Watch in the 2020s
Newmark – The Grocery Store Effect
