You are reading: What Amenities Do Renters Want?
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If you’re not offering amenities to your tenants, it’s time to start rethinking your strategy. Let’s face it – gone are the days when a roof over your head and running water were enough to satisfy tenants. These days, renters are looking for the whole package, and that includes amenities that make their living experience feel like an upgrade from their college dorm room.
From fitness centers to package lockers, the amenities offered by an apartment complex can make all the difference in a tenant’s living experience. In this blog post, we’ll dive into the most sought-after amenities tenants want at their apartment complexes and provide insight into why these amenities are crucial for retaining good tenants and adding value to your property.
On-Site Laundry Facilities
If your units don’t provide an in-unit washer/dryer, an on-site laundry center is a must. Tenants want to easily wash and dry their clothes without having to leave the building or spend one of their precious days off at a laundromat. On-site laundry facilities should be well-maintained and have plenty of machines to avoid long wait times.
A fitness center is another highly desired amenity for many tenants. Millennials and Gen Z are particularly wellness-focused, so they may skip over your building entirely if you don’t include one. Being able to work out without leaving the building is convenient, especially for those with busy schedules. Your fitness center should be well-equipped with various equipment, such as cardio machines, weights, and exercise mats.
A pool is a no-brainer, especially in warmer climates like Southern California and Florida. A well-maintained pool area can provide tenants with a relaxing and refreshing oasis during the summer months. If you’re going to include one, it should be clean and have plenty of seating and shade. Nobody wants to swim in a dirty, leaf-filled pool!
Air Conditioning and Central Heat
We get it – adding air conditioning and heating to your building is expensive. But even more temperate climates face weather extremes. Tenants want to be comfortable in their homes year-round, whether it’s a 100-degree summer day or a brisk 50-degree winter night. This amenity is the deciding factor for many potential renters, so if you can afford it, do it.
Did you know that over 70% of renters have pets? Running a building that accepts pets and welcomes them with open arms can make a huge difference in how many applications you receive and how long your tenants stay. Pet-friendly policies can include allowing certain breeds, having designated pet areas, and providing waste disposal stations. Some apartment complexes may even offer pet grooming or dog walking services for an additional fee.
Tenants appreciate having outdoor spaces such as patios, balconies, or communal areas where they can relax and socialize. These spaces should be well-maintained, clean, and have plenty of seating. Adding outdoor grills and fire pits can also be a nice touch for tenants who enjoy cooking and entertaining.
Not only should your apartment complex have plenty of parking, but it should also be safe and secure for your tenants. The last thing your tenant wants is to be worried about their car getting broken into.
Parking areas should be well-lit, clean, and have plenty of spaces for residents and guests. Providing covered or garage parking can be a perk, especially in regions that experience severe weather.
In today’s digital age, tenants receive a lot of packages. Whether it’s their third Amazon order of the week or a meal delivery kit, they want to know that their package will be kept safe if they’re not home. Providing a secure package room can be a convenient and easy way to make this happen. You can also allow packages to be held at the leasing office, too.
Tenants rely heavily on high-speed internet for everything – work, entertainment, communication; you name it! While many apartments require tenants to provide their own internet, offering internet as part of the rent can make your building stand out. At the very least, providing Wi-Fi in common areas such as the fitness center, pool area, or outdoor spaces can be a nice touch.
Having on-site maintenance and repair services is typically a non-negotiable for tenants. It’s one of the biggest perks of renting an apartment! Whether it’s a leaky faucet or a broken appliance, tenants appreciate having a team on hand to quickly address any issues that may arise. Offering 24/7 emergency maintenance services can also give tenants peace of mind in case of any emergencies.
Organizing community events and activities can be a great way to bring tenants together and create a sense of community. Try implementing game nights, movie nights, or holiday parties. If you want to do something more casual, consider picking a day of the week when you provide food or refreshments for your tenants – think Bagel Tuesday or Coffee Friday. These events can also be a great way to attract new residents, too!
Tenants, particularly Millennials and Gen Z, are becoming increasingly conscious of their environmental impact. Energy-efficient appliances such as light fixtures, appliances, and heating and cooling systems can help tenants save money on utilities and make your building stand out amongst the rest.
This is for the folks that want their apartment to feel like a luxury experience. Offering concierge services is a high-end amenity that will set your apartment complex apart from your competitors. Concierge services can include things like package acceptance, restaurant reservations, and travel bookings. These services make the most sense in big cities or tourist destinations like Los Angeles, New York City, or Miami.
Let’s face it – we all accumulate stuff. No matter how minimalist our lifestyles may be, there always seems to be something that needs a home. That’s where on-site storage can help. From bikes to boxes, having accessible and secure storage options within the complex can be a game-changer for renters. You can even charge a small fee for it, increasing your rental income as a result!
Smart Home Technology
From smartphones to smart homes, the latest and greatest gadgets are changing the way we live our lives. And tenants are taking notice. As more people look for ways to streamline their daily routines, smart home technology is becoming increasingly sought-after in apartments and rental properties. Consider including smart thermostats, keyless entry, or wifi-enabled lighting in your units.
The Importance of Amenities
Apartment amenities play a critical role in the decision-making process of renters, and it’s easy to see why. Today, tenants have high expectations for their living experience and are looking beyond just the basic essentials. Simply having a roof over their head and working electricity doesn’t cut it anymore.
Amenities can provide added convenience, comfort, and even entertainment that can make a world of difference in a tenant’s day-to-day life. From fitness centers to on-site storage, each amenity offers a unique benefit that can make an apartment complex more appealing to renters.
For property managers, offering amenities is essential in creating a competitive advantage in the rental market. Not only do amenities attract and retain great tenants, but they also allow property managers to charge higher rent rates and increase revenue. By providing top-notch amenities, property managers can differentiate their complex from others and create a sense of community and belonging that can lead to long-term tenant satisfaction and retention.
If you’re just starting out in the industry and looking for your first property, consider these amenities when doing your market research. Some properties may not have the space or functionality for the amenities you want. Think about which ones will add the most value to your property, your tenants, and your neighborhood.
To Sum Up…
These are just some of the many amenities that tenants want at their apartment complex, and the list is constantly evolving. These amenities can improve the overall tenant experience and make an apartment complex more attractive to potential renters. Ultimately, it’s important for property managers to understand their tenants’ needs and preferences and adapt their offerings accordingly.