Top 8 Apartment Amenities Residents Really Want Today

 

Top 8 Apartment Amenities Residents Really Want Today


 Top 8 Apartment Amenities Residents Really Want Today

Key Takeaways

• The top eight apartment amenities are outdoor spaces, smart locks, smart thermostats, smart access control systems, package delivery solutions, parking and transportation, and coworking spaces.

• Consider your resident demographics and the location of your property when choosing what to offer.

• Remember that amenities alone aren’t enough to keep residents happy. You also need to make sure they are in good working order.

• Property technology is one of the most lucrative benefits you can add to your building because it improves both convenience and security.

• The sooner you integrate smart technology into your building and rental units, the sooner you’ll get ahead of the competition, reduce vacancies, and increase tenant retention rates.

Apartment amenities have long been the primary reason residents sign and renew their leases. Residents will always look for residential buildings with the best amenities. But how do you decide which ones are worth the investment?

In this guide, we'll look at the amenities apartment dwellers actually want and how they can help build tenant loyalty. 

We'll also show you how to choose the right one for your unique building and the role of technology as a modern apartment amenity.

This article covers the following topics: What are apartment amenities? Types of apartment amenities, 8 best apartment amenities, how to choose the right apartment amenities, Technology as an amenity and the best amenity reservation system. 


What are Apartment Amenities?

Apartment amenities are non-essential features or services offered to apartment residents. Examples of apartment accommodations include gyms, pools, garages, laundry rooms, play areas, dog runs, etc.

Amenities are often cited as a reason why potential tenants sign or renew a lease. It's also what differentiates one apartment building from another, allowing owners and property managers to charge extra for their units.

But it’s important to realize that not all apartment amenities are equal and some are more valuable to tenants than others. When deciding to include it in a building, you need to consider tenants in the target market, preferences, and population statistics.

Note: Amenity, which improves the experience of residents, is the key to new tenant’s research and implementation.

 

Are the Amenities Free?

Amenities may be free to residents (included in the rent), or the building may charge residents a utility fee. License fees can be charged monthly or annually, or you can charge a flat fee up front when new residents move in. Buildings that don’t charge utilities may charge slightly higher rents. 

So, if you’re considering charging utilities, make sure your rental rates remain competitive with neighboring buildings. Otherwise, prospects can abandon additional costs and choose another building.

Discover the 8 best apartments for your building:

 

Types of Apartment Amenities?

There are two types of apartments:

1. Community amenities

2. In-unit amenities

 

Community Amenities

Public facilities are used by all residents. They are in common areas, and all residents can be accessed. You can also add it to the closed community. Most of the time, common amenities are only available to residents and possibly their guests.

In some cases, property management limits their use to certain hours of the day.

Examples of building amenities include:

• Bike storage areas

• Gyms

• Laundry facilities

• Movie theaters/media rooms

• Online rent payment and maintenance requests

• Outdoor apartment - e.g, swimming pools, dog parks, rooftop decks, gardens, patios, playgrounds, barbecues, etc.

• Package rooms and package lockers

• Secured parking garages/assigned parking

 

In-unit Amenities

In-room amenities are located within the apartment and for the use of its occupants only.

These amenities are designed to create a more comfortable and attractive living environment. Generally, the more amenities an apartment has, the higher the price and the more you are willing to pay.

Examples of In-unit Amenities include:

• In-unit laundry

• Air conditioning or central air

• Pet-friendly units

• Dishwashers

• Patios and balconies

• Fireplaces

• Smart thermostats

 
Amenity Categories

Apartment and public space amenities can be categorized based on the type of services and perks they offer.

The four amenity categories are:

1. Safety/security

2. Convenience

3. Luxury

4. Wellness

When choosing what's right for your building, consider adding things that fall into all four categories to meet all of your occupants' needs.

 

Here are 8 Best Apartment Amenities:


Top 8 Apartment Amenities Residents Really Want Today


Offering popular amenities not only differentiates your property at lease-up, but also keeps tenant retention rates high. So, what are the best apartment amenities? Renters are generally attracted to rental properties that offer security and convenience.

The NAA and NMHC report that renters are most interested in security-related amenities, and National Real Estate Investors states that "convenience-oriented technology is number one on most renters' wish lists."

The 8 Best Apartment Amenities:

1. Open space

2. Smart lock

3. Smart thermostat

4. Pets allowed

5. Smart access control

6. Parcel delivery system

7. Parking and transportation

8. Coworking

 

1. Outdoor Space

With remote work now the new norm, many people are spending more time at home than ever before. As a result, more people are looking for open spaces in their apartments where they can relax and enjoy some fresh air. Many residents will look for private balconies or terraces, but shared outdoor amenities are also a huge plus.

Consider adding these coveted outdoor amenities:

• Outdoor kitchens with grills and picnic tables

• Rooftop decks with lounge chairs

• Community gardens

• Playgrounds

 

2. Smart Locks

Physical keys may soon be obsolete. Smart locks are all the rage as they enable a keyless entry experience. No one likes being locked out, and every apartment dweller has experienced the frustration of forgetting or losing their keys and being left stranded outside their building or home. Installing smartlocks on all apartment doors allows residents to lock and unlock their doors using their smartphones. You can also install smart locks on common area doors.

Here’s why residents love smart locks:

• They can reject physical keys

• They never get locked out

• Many smart locks have a digital key feature that allows residents to send digital access codes to guests.

 

3. Smart Thermostats

Smart thermostats are one example of an ingenious solution to the common problem of controlling the temperature in your apartment when you’re away. Smart thermostats are a win-win solution for both residents and facility staff.

Residents love smart thermostats because:

• They help them save money by reducing energy consumption.

• It gives residents the opportunity to maintain a comfortable temperature for their pets while they are away.

• It allows residents to turn on the air conditioning or heat before they get home so that the home is at the ideal temperature when they return.

• Remote control directly from your smartphone.

Property managers also benefit from smart thermostats. Installing smart thermostats in every home can help you save money by reducing energy consumption in vacant properties, plus, by offering built-in amenities that prospective buyers actually want, you can attract more potential residents and close leases faster.

 

4. Pet Amenities

As the proportion of remote workers soars, so too has the rate of pet ownership. That's why pet-friendly apartments are in higher demand than ever before, so adding pet-friendly amenities can be very cost-effective. Examples of the best pet amenities include:

• Dog park or dog run.

• Pet washing stations

• Pet concierge service.

 

5. Smart Access Control

Upgrading your building's access control system is one of the simplest yet most effective ways to add luxury to your occupants. Think about it. Residents of luxury high-rise apartment complexes and mobile home parks are not all that different. 

Regardless of your residents' demographics, lifestyle, or community type, they all have one thing in common: They need an easy way to let their visitors and themselves into their building.

Installing a smart access control system is the best way to improve the comfort and security of your property, which are two top priorities for residents.

For best results, consider an access control system that includes:

• Smartphone Video Intercom: Installing a smart video intercom at the entrance to your facility allows residents to open doors or gates using a mobile app on their smartphone, eliminating the need to carry keys or program and hand out cumbersome key fobs. Additionally, residents can remotely grant access to visitors and monitor who is requesting access to the facility.

• Keypads: In addition to the main entrance to the property, you can also control access to common areas such as amenity areas. So, use a smart keypad that residents can access using a PIN or smartphone.

Pro tip: Choose an access control system that integrates with other technology you already use, like your property management software or smart locks in your home.

 

6. Package delivery system

Today, people are shopping online more than ever before. And residents want to be able to receive their packages 24 hours a day. In fact, NAA says 31% of renters would pay up to $10 more per month if it were easier to receive packages. Invest in a high-tech package delivery system to save your employees the trouble of receiving, organizing, and distributing packages to residents.

Package lockers are an option, but a delivery room is the best solution for managing deliveries.

With a package room, you’ll:

• Ensure that couriers can always access the property to complete deliveries successfully.

• Prevent package theft and missed deliveries.

• Give residents the ability to pick up their packages at any time.

• Automate notifications to notify residents when a package has been received.

 

7. Parking and Transportation Amenities

Regardless of the building's location or the occupants' lifestyle, parking and transportation are a big plus. Of course, amenities like dedicated parking are especially desirable for suburban residents who are more likely to own a car, or for those in neighborhoods where parking is limited.

But there are plenty of other transportation options that are appealing to a wide range of residents. These include:

• Reserved parking for guests.

• Parking spaces for visitors

• Bicycle storage and locks.

• Car or bike sharing programs.

• Designated passenger boarding areas for shared rides.

Before choosing which ones to add, consider the location of your property and the transportation needs of your residents. You might even consider surveying current residents to gauge interest first.

 

8. Co-working space

As working from home becomes more common, it is in your best interest to cater to the needs of a group of remote workers. So, consider offering a coworking space as an amenity.

Here's how to set up a coworking space in your building:

• Include mostly single desks for independent working, but larger desks for collaborative working.

• Provide a few chairs and sofas in the rooms.

• Offer free Wi-Fi.

• Open a café.

• Stock up on basic office supplies like printers, paper, and pens.

• Reservations are required to avoid overcrowding.

You can also generate a new revenue stream by charging residents a small fee to reserve office space in your coworking space. Many residents who work from home will be happy to pay for access to a quiet space that helps them get work done.

 

How to Choose the Right Amenities

The best way to choose which amenities to include in your apartment building is to consider the demographics of your residents.

Are most of the people living in your home older couples or young professionals? Growing families or single students?

Population statistics affect the taste of the resident. If you are suspicious, keep in mind that the millennial generation is the largest population statistical population statistics in the United States by age. Of course, don't ignore other demographic groups, this is especially true when you have a range of age groups owning real estate. The income level of the residents also plays a role, especially in the case of luxury apartments.

Finally, the location of the property plays a key role in deciding what amenities to add.

The U.S. Apartment Association reports that 60 % of the respondents will reserve and pay the parking lot every month, but only in areas where residents fight the parking lot. For example, in large cities, such as a large city, you may probably not need parking. According to a report by the National Multifamily Housing Council, renters in 59 of 70 metropolitan areas don't enjoy amenities they actually need or live in apartments with amenities they don't need.

With this in mind, make sure your amenities truly add value to the building.

When choosing amenities, keep in mind that:

• 86% of millennial apartment renters are willing to pay more for smart apartments, compared to 65% of baby boomers.

• Millennials gravitate towards conveniences that make their lives easier, such as smart locks, laundry facilities, food delivery and electronic payment systems.

• Many upscale tenants say they prioritize safety-focused amenities like security systems.

• While you may not be renting to many Gen Zers just yet, their presence in the rental market is growing. Therefore, consider the possibility of adding them, such as open holes and co -working, to add them.

 

Modern Renters Crave Connection

A report on the NMHC / Kingsley tenant's tastes, 60 % of the large ZERS families, and 60 % of the people of the ZERS family, say their living space reflects their character.

In other words, today's tenant is looking for a house where they feel connected. Therefore, providing the luxury of a unique apartment that reflects their taste and value to the residents can build this connection and reduce sales.

However, the "traditional" comfort of a dishwasher, washing machine/dryer, air conditioner, and high -speed Internet has become the face value of the course. Amenities shouldn’t just be viewed as bells and whistles; they need to provide real value to residents.

 

Technology as an Amenity

There’s no doubt about the importance of integrating technology into apartment amenities. According to the executive report from the apartment, 57 % of the residents agree to increase at least $ 20 rents for the functions of intellectual houses, such as apartments, intellectual thermostat, intellectual lighting, and exercise. I am. Sensor lamp and intelligent lock. In fact, we believe that 45 % of tenants will surpass the physical doors for 10 years.

Smart home technologies, formerly restricted to single family homes, are now coming to multifamily buildings and dorms. Internet of Things (IoT) devices will create a seismic shift in multifamily and campus communities and create new opportunities.”

– Felicite Moorman, cofounder and CEO of StratIS

 

Benefits of Technology Amenities

Property technology has become an apartment amenity trend that will only continue gaining traction as providers innovate new products and services.

Adding technology to your apartment complex has many benefits, including:

• Improved security through the use of cameras, sensors, and smart locks.

• Reduced energy costs — consider a smart thermostat that automatically turns the temperature down when no one is home.

 • Improving convenience -For example, an intellectual access control system allows residents to unlock the door with a smartphone instead of transporting a key.

• Technology is useful for controlling staff and fulfilling maintenance needs, operations, and security issues.

 

Final Thoughts

The implementation of real estate technology will make apartment buildings more valuable and attractive to residents. It’s also important to remember that properties under construction may not be available for occupancy for several months or years. 

Considering the speed of technology advances, if the developer and the real estate manager are not reflected at the forefront of today's technology when planning a property, the cost of competition will be incurred as soon as the building ends.

 

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