If you own a multifamily property, it’s important to invest in regular maintenance and updates. Potential tenants look for clean units with modern appliances and fixtures. If you want your properties to stand out from the crowd, offer unique apartment services and amenities tenants won’t find anywhere else.
Adding one or more of these unique features could add value to your property, attract new tenants and keep current residents satisfied and more likely to renew their leases. Read on to explore upcoming commercial real estate trends, along with some of the best apartment amenities to offer when you’re looking to boost interest in your property.
7 Unique Apartment Services Amenities We Expect to See
The idea of apartment services and amenities has evolved over the past several years, and many features that were once seen as perks are now expected. For example, many multifamily properties now offer on-site laundry rooms, workout centers and swimming pools. In order to offer tenants something new and different, consider expanding your property’s offerings to include unique apartment services and amenities.
1. Creative Spaces for Online Classes and Remote Working
While we’re currently in the middle of a pandemic, a large percentage of the workforce is working from home or working in a hybrid format that includes both remote work and time in the office. Additionally, many universities are offering more online learning options for students. Not all residents will have a spare bedroom or office to use as a workspace, so offering a modern space for working and learning could be a nice perk. Even when things start going back to normal, a quiet room with high-speed internet and soft seating options will still give tenants a nice break from the distractions of their home.
2. Multipurpose Theater Rooms for Screenings, Gaming and More
Some multifamily properties have a theater room that goes unused most of the time. In order to make the theater room a fresh and unique apartment amenity, rethink its purpose. Instead of only offering occasional movie nights for residents, allow residents to reserve the theater room for their own parties and events, host video nights or plan weekly screenings of popular TV shows. Many young renters appreciate apartment amenities that foster community and social connection.
3. On-Demand Dining and Delivery
The best apartment amenities and services are the ones that make life easier and more convenient for residents. For example, on-site laundry rooms (or in-unit laundry) let tenants save the time it would take to travel back and forth to a laundromat. On-demand dining and delivery options are a more unique example of increased convenience at a multifamily property.
If you own an apartment building, consider partnering with local food delivery services to give residents a list of local options to choose from. In many cases, you may be able to make a deal with restaurants and delivery services to get a discount for your residents. Also consider working with a local grocery store to coordinate mass deliveries for the entire complex.
4. Convenient Cafes and Coffee Options
Almost everyone needs their morning coffee fix these days, but many people don’t like the long lines and high prices at popular coffee shops. On-site cafes with quick grab-n-go coffee options are a growing commercial real estate trend for multifamily properties. This service adds another level of convenience and ease for residents, and it would be an easy way for owners to make additional money off of current residents without increasing rent costs. Offerings could include fruit, breakfast and snack items, simple coffee options, or even hire a barista to make speciality drinks.
5. Tech-Friendly Spaces for Meetings and Events
Many multifamily properties have some sort of multipurpose space such as a clubhouse or community center. These areas tend to be versatile and perfect for hosting a variety of events and activities, but they’re often in need of a facelift and technology updates. Add a projector screen, high-speed internet and movable furniture to make the space perfect for anything from arts and crafts events to roundtable discussions.
6. Spaces for Musicians and Performers
For people who live in apartment buildings, there’s nothing more annoying than a neighbor who plays their guitar at all hours of the day. If you provide sound-proof practice rooms, musically-inclined residents can have space to jam without disrupting other tenants. Another idea is to open up a stage in a common area — either indoor or outdoor. Host open mic nights, poetry slams and other entertainment events as an additional perk for residents.
7. Enhanced Gyms
Apartment gyms have long had a reputation of being a sad little room with a treadmill and a few dumbbells. If you invest in a more robust gym facility, you may entice more tenants. People who are into fitness may be willing to pay more for an apartment with a great gym, especially if it allows them to cancel their gym membership.
Learn More About Commercial Real Estate Trends & the Best Apartment Amenities for Attracting Tenants
If you’re considering making updates to your current multifamily investment or you’re building a new apartment complex, keep your residents’ needs and desires in mind. Offering unique apartment services and amenities will help keep your residents happy and your properties full. Contact The Katalyst Team for more creative ways to update your multifamily investment. We have years of industry experience and are always staying on top of new commercial real estate trends.