According to Bill Greene, a senior design manager who has been helping to add amenities to apartment building for over 25 years, the bar has been set high by millennial renters when it comes to apartment amenities. He also notes that these renters want and demand amenities that not only make their lives easier but also add an element of luxury to their everyday routines. In addition, investing in amenities doesn’t seem to hurt a company’s bottom line because they are now a necessity in order to keep pace with the competition.
Here’s a look at the top six amenities your renters can’t live without:
- Let’s Get Pet-Friendly. A whopping 57% of millennials own a dog or cat and 63% of them think their pets should be pampered. These are important statistics when you consider the fact that millennials comprise 40% of the housing market and 90% of those are renters. Providing pet-friendly amenities like a dog park, pet grooming or common areas for dogs and pets to socialize off leash are hot trends right now.
- Fitness Frenzy. Millennial renters want studio-like fitness areas to align with their exercise interests. That is why it is important to offer fitness centers equipped with a wide variety of exercise machines and options for renters to choose from. Gone are the days of a small room with one treadmill and a set of hand-weights. Millennial renters want a premium workout experience.
- Apartment Package Lockers. Online shopping is booming, and apartment communities nationwide are struggling to keep up with the surge in resident deliveries and packages. That’s why many multifamily properties are turning to electronic package lockers to improve their residents’ experience. Residents like how quick, easy and convenient it is for them to pick up their parcels from the apartment package lockers during a time that works for their schedules – even during after hours. And they value the fact that lockers keep their packages safe and secure. Additionally, apartment package lockers allow property managers to streamline the package delivery process while improving last mile logistics. As more people prefer online shopping now than ever before, property managers are faced with the task of handling a lot of packages. Every week, tens of hours are wasted by staff having to manage packages, store them safely, and notify residents. Multifamily parcel lockers increase efficiency and reduce the cost associated with package management by minimizing the amount of labor needed to route residents’ packages.
- Package Rooms. Taking apartment package lockers one step further, the package room offers a simple, safe, and affordable package management solution for property managers and residents alike. As more and more packages are being delivered each day, and by different couriers, smart package rooms reduce package liability for property managers and increase resident satisfaction by simplifying the package pick-up process. Property managers can spend more time focusing on increasing resident renewals while residents can appreciate the ability to pick up time-sensitive packages immediately with real-time notifications.
- Lavish Laundry Perks. Multifamily Executive reports that the convenience of being able to wash clothes in the comfort of their own home is priceless for renters. If the units are already a little tight on space, consider adding stacked washer and dryers. Millennial renters are willing to give up space for this accommodation. In addition, on-site laundry and dry-cleaning services are very popular among renters of all ages.
- Creative Communal Space. According to Multifamily Executive, renters, especially in the millennial and Gen Z generations, love having communal and wellness space within a building, especially as apartments become smaller and space gets tighter.
What amenities are your tenants enjoying? Comment below.