What amenities are renters looking for?

There are many reasons why renters may choose an apartment, location and budget being the main one. But when the options are similar it all comes down to the amenities a building or complex can offer them. But what amenities are renters looking for? Figuring this out will not only help you sign more leases but also retain residents. Keep reading to find out and make a smart investment.

Outdoor space

Work from home is the new normal, which makes people spend so much time inside their homes. Having a space where they can enjoy fresh air is more important than ever.

Greater security

Security measures that go beyond the standard is very attractive to new tenants, particularly to young families.

Outdoor lighting and security cameras will give residents peace of mind while reducing the risk of break ins. Aditionally to these community wide features you can implement measures for each unit like alarm systems and smart locks.

Being pet friendly

Another consecuense of the pandemic is the rise of pet ownership. A lot of people found themselves alone in their homes so they decided to bring a pet to give them company. Having a place that not only admits their furry friends but caters to them can be a deciding factor.

Laundry room

In-unit washers and dryers are every tenants dream. It’s not a very common feature and we understand it’s not easy to place equipment in every unit so a community laundry room is the next best thing. Prospective residents will appreciate it since it means they can skip the trip to the laundromat.

Property managers often think setting up on-site laundry is difficult and expensive. And it can be if you work with the wrong partner. Check out the solutions from Southeastern Laundry, not only will you be able to provide your residents a highly desirable amenity, you can always turn it into a new revenue stream.

Package delivery system or storage

Nowadays people shop online more than ever before and residents want to be able to pick up their packages 24/7. Make sure your staff is well train to do this task or invest in lockers or a package room.

Parking

There’s nothing work than getting home after a long day of work and having to spend 30 minutes looking for a parking spot. According to a 2015 survey by the National Multifamily Hosuing Council, 94% of renters list parking as the top community amenity they desire. Giving your tenants a assigned parking is a sure way to keep them happy, have extra spaces for visitors and you’ll be golden.

Now you know what amenities renters are looking for but… how to choose which ones to invest in?

The best way to decide is to look at the demographics of your current tenants and of those you wish to attract. Are you looking to bring young families, single college students, or most of your residents are seniors?

Millennials value smart apartment features more than baby boomers while senior renters look for safety and security first. Keep this in mind and make sure the amenities you offer add value to your building or complex and most importantly, make sure they make your residents’ lives easier.

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