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September 1st, 2017

Consistent Change of Amenities

In the current multifamily developments, attracting millennial renters and keeping them can be difficult. With the consistent change in amenities and the fast growth of technology and expectations, staying relevant in the market and upping amenities is now a common interest for properties.

People are now looking more towards the lifestyle and neighborhood and what they have to offer. Things like bike or car sharing sites are highly sought after. Another amenity many millennials are looking for are areas that are more social for them such as coffee shops or café’s in the lobby. Upping amenities like fitness centers would not only help improve the health and wellness of your residents but keep yourself on the market.

Including outdoor access with rooftop pools or lounging seating allowing millennial renters to feel more relaxed is key. Another key element when changing amenities is how tech-friendly you make your properties. High-speed WI-FI is essential or a business center where millennials renters can work from home.

Lastly, creating homes that are more appealing to millennial renters will initially help multifamily developments with a better result in keeping their residents happier. In summary, if you are able to offer unique amenities before the competition, landing those millennial leases will come a lot easier!

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