What Features Do Apartment Renters Value the Most?

How you can appeal to apartment renters.

In an effort to appeal to apartment renters, property managers are making an effort to offer amenities like swimming pools, on-property fitness centers, and so on.  However, a recent survey conducted by the firm Yardi Matrix indicates that renters aren’t just looking for physical amenities; they want the right mix of amenities, services, and other features.  Here’s what property managers need to know about attracting renters.

  • Favored Spaces

The survey revealed that swimming pools were particularly attractive to renters in both warm and cold climates.  Swimming pools were among the most favored amenities, even in climates where residents could not use the pool all year round.  Apartment developers are also focusing on incorporating multi-use common spaces into their properties, such as combining the leasing and business center.  By creating flexible spaces, apartment managers can appeal to a wider range of potential renters.

  • Rent Savings

Many renters reported that they would prefer to have fewer amenities if it cut down on the cost of their rent.  Oftentimes, buildings with fewer amenities and lower rent will have fewer vacancies than luxury apartment complexes.  Thus, apartment owners can sometimes boost revenue by leaving out amenities that would drive up their rent cost.

  • Top Apartment Features

Within apartment units, soundproofing is a feature that renters find universally appealing.  Other top in-unit features include washers and dryers, air conditioning, balconies, hard flooring, and stainless-steel appliances.  According to the survey, renters care less about features such as gas stoves, mudrooms, and Bluetooth sound systems.

Here are some of the top amenities, services, and features that appeal to apartment renters.  Curious to learn more about how to make your property more appealing?  If so, then contact the experts at California Commercial Realty Advisors, Inc.  We are ready to assist you with all your commercial real estate needs today.

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