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Multifamily Trends | 4 of the Latest Trends in Apartment Amenities

Multifamily Trends | 4 of the Latest Trends in Apartment Amenities

Multifamily Trends | 4 of the Latest Trends in Apartment Amenities

Remember when pools and covered parking were worth bragging about in apartment ads? Today’s renters are demanding, and receiving, a great deal more. Amenities vary quite a bit from city to city, but some of what’s trending now will very likely become standard in your neighborhood soon enough.

Here is a compilation of the top five apartment amenities that you didn’t know your renters needed.

Blazing fast connections

A business center is just not enough anymore. The new generation often works from home, so they need high-speed Wi-Fi everywhere and strong cellular signals for their smartphones. In larger cities, renters routinely ask free wireless and Cat-5 cabling in the apartments. Popular amenities that are becoming standard are docking stations for iPods. Landlines and entertainment centers just don’t matter when mobile devices deliver online movies, an app for everything and social networks… all of which require as much bandwidth as they can get.

Green is good for the eyes

The website Multifamily Executive recently reported that, “62 percent of respondents likewise reported that their apartment’s environmental friendliness was an important factor in choosing a place to live.”  Consumers want to feel that they are doing something for the environment just by living there. In addition to sustainability and eco-friendly building practices, there is a new addition on the horizon. Bozzuto has built the first apartment community with charging stations for electric cars in Baltimore. The success of Tesla Motors indicates that the appetite for electric cars has just begun.

Paws for reflection

The new generation of apartment hunters have given up on the idea of families to dote on their pets. Cats (30.4% US Households) and dogs (36.5% US Households) are their children in many ways, and many even build social media pages for them. Pets have long been problematic for apartment owners, but new complexes are welcoming them as clear signs of disposable income. Renters are looking for proximity to dog parks and vets as well as onsite amenities like doggie day care and grooming facilities. Ironically, renters with allergies to pets have spiked as well, so be very clear about your complex’s pet friendliness.

Social spaces IRL

Social sharing is a matter of pride for the new generation. Just about every event in their lives, even dinner, finds its way to Instagram or Vine. As an outgrowth of this phenomenon, collaborative consumption, or the sharing economy has taken off in tandem. The new social consumer is looking for communal spaces for sharing outside of social media. IRL (In Real Life), as they say. This means a return to shared lounge areas, once a fixture of bed and breakfasts, while rooftop gardens have become deal-clinching features. Although they spend a great deal of their lives online, these new consumers cherish the times when they can really connect with their neighbors.

Which of these amenities do you see as a real possibility for your complex? Remember that within just a few years, your apartment applicants will have birth dates in the 21st century. It’s time to start preparing now for the next generation and what they will consider to be minimal acceptable living standards.

 
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One trend I've noticed is smoke free living options. I can tell you that I left my last place because of a neighbor's smoking. Not that I disliked the guy. For the record, I thought he was a pretty cool dude notwithstanding his morning and night smoking pattern. Needless to say, I left the community once my lease expired and found a new home in a community that does that does not allow smoking.

  Matt
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Thank you Justin. I work for Bozzuto and appreciate your mentioning us the charging stations at the Fitzgerald in Baltimore and other apartment communities. Have a great weekend.

  Shashi BEllamkonda
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I picked up an interesting counter-current while listening to some young ULI members talking. They agreed that they would gladly give up all amenities, they just wanted lower rent (in an urban setting.)

  Jeremy Fretts

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