More and more people are turning to multi-family communities for their residential needs. As renters search for a new place to call home, they have certain boxes that need to be checked off, such as convenience in location, space requirements, price, etc. However, one checklist item has gained increasing popularity, desired residential amenities. Property owners and managers must consider these industry trends consumers value most to create a desirable location to remain relevant in today’s competitive landscape.
Business centers and gyms have long been a selling point for renters, but today, those needs have shifted towards innovative technologies and streamlined services. Providing services over spaces is taking higher priority in specific locations due to the belief that the overall experience is more important than the tangible “stuff” apartment complexes can offer. We’ve highlighted the top three growing trends of this movement.
1. Valet Living
The multi-family amenities service app that brings apartment residents the services they want. Dog walking, on-demand trash removal, dry cleaning, laundry services including wash, dry and fold, all the activities renters dread, streamlined.
Home delivery services like Instacart and Shipt, as well as food delivery services like GrubHub and DoorDash, have further fueled this lifestyle of convenience that consumers desire. Multi-Family communities are beginning to focus on more strategic partnerships, such as these, that renters will happily pay extra to have.
2. Building a Community
For example, apartments with swimming pools offering water fitness classes to bring residents together. Renters may not be in a traditional neighborhood with houses and yards, but there is still a desire to be part of a community where you can get to know your neighbors. Through fitness classes, social mixers, and family events, apartment communities are beginning to promote residents to get to know the people who live around them.
It’s not just the human aspect communities have to take into consideration, there are our furry friends, too. When locating a community for their family, four-legged family included, there is a growing demand for pet-friendly amenities. Dog parks, washing stations, and dog-friendly events such as “Yappy Hours” promote socialization between owners and their pets.
Convenience in location is a critical factor in decision making, but right behind that is the need for connectivity. Today, people want to be able to access whatever they need right from their fingertips, anytime and anywhere. Take into account those working from home and the students in the community, amenities like easy access to high-speed internet and free WiFi in common areas are imperative to their lifestyle and overall success.
It’s essential to keep in mind that no two tenants’ needs are the same. When it comes down to deciding which types of amenities to offer, each geographic area and persona may hold different preferences, and some renters may even prefer to forgo additional amenities to keep rental rates low. Multi-Family communities must maintain a steady pulse on the desires of their target demographic to stand out.