Today’s apartment renter is all about one thing: amenities. Yes, they care about price and location, and the aesthetics of a building or complex are also a big consideration, but the amenities are the deal-makers or breakers these days. As an apartment property owner, this trend is something you should think seriously about when planning and designing your upcoming renovations.
- Transportation. With the advent of programs such as Uber and Lyft, along with a growing sense of environmental responsibility, many communities are taking another look at their transportation offerings. Many property owners, especially in congested urban areas, are encouraging alternatives to car ownership. Bike-rental programs are popping up, while biking trails are a plus. If you are considering re-working your parking spaces, maybe it’s time to think about a dedicated space for pick up and drop off by ride-share vehicles and a place for your tenants to park their bicycles.
- Expanding your fitness center is another possibility. Almost every apartment building or complex has a fitness space these days, but you can go to a whole new level by adding classes such as yoga or Pilates, and your renovations could include state-of-the-art equipment. Your tenants would really love the idea of saving money on a gym membership and working out at home.
- Fur babies. People are having smaller families today, and many couples are opting for pets as their family. These renters will be very attracted to a pet-friendly property, so when you plan your renovations, think about Sparky and Rover. Dog park? A pet concierge? Many people need someone to watch the dog or cat while they go on vacation or work late, and a concierge can be a great asset to your apartment complex. During the renovation, add an office for this part of your business, or maybe a small area devoted to the fur babies, complete with a dog spa or groomer.
- Community. Some apartment complexes are adding urgent-care clinics, mini-markets, and even maid services to their list of offerings. While you are planning your apartment renovation, consider adding some cutting-edge amenities that will help your tenants stay near home, saving gas and money. Providing your residents with places to pick up sundries, or even an alternative workspace, will make your property a popular place to reside.
- High tech. Apartment owners and managers are partnering with tech innovators to develop customized community apps, which enhance communication for residents, and according to a recent study, more than half of all residents nationwide said they would be willing to increase their rent by more than $20, if their unit could be a “smart apartment”. Voice sensors and voice control now allow residents to take advantage of a full menu of commands. They can pay their rent by voice, and BlueTooth technology can run their shower. Thermostats controlled by motion-detector are another amenity that you could add to your units during your renovation.
The Ascension General Contractors team is here to help you realize all your goals when it comes to your apartment renovations.