Apartment communities and complexes
are looking to stand out in a relatively stationary residential market with
amenities, but which ones are renters keen on?
Most potential renters are
particular about the value an apartment can offer them. In most residential
areas, the rent at the end of each month can remain relatively unchanged. When
it comes down to it, what will sway the choices of potential renters are the
amenities that the apartment can offer.
But sometimes it can be hard to
tell which amenities will appeal the most. Is it proximity to the supermarket
or a gym on the first floor or a common area for socializing? Or perhaps a
fully functional laundry floor in the building? A recent survey has revealed
some of the most sought-after amenities and can potentially offer answers to
The survey titled “Adding Value in the Age of
Amenities Wars” was conducted by the National Apartment Association (NAA),
and highlights some of the preferred amenities that guarantee the highest
returns in apartment communities.
According to Robert Pinnegar, NAA
President & CEO, the research revealed that modern conveniences and community
spaces are the leading amenity demands. He also adds that the survey
highlighted what offerings could enhance the appeal of an apartment, and even
the simple and affordable amenities that can be added to increase appeal.
The community-level list was hugely
dominated by a sense of togetherness by bringing people together. Likewise,
upgrades and high-end finishes topped the unit-specific list. Furthermore,
business centers and fitness centers are widely clamored for by most
communities – heading the list of amenities that owners have entirely upgraded
or added recently.
Other amenities also favored by
residents are clubhouses for socializing and common areas. Also, pet-friendly
communities are a plus, as well as those with pools, playgrounds, landscaped common
areas, outdoor areas and package holding areas. Fitness centers and
pet-friendly amenities are rated the biggest community revenue influencers.
In the unit-specific
amenities, a dryer and an in-unit washer were top of the list and almost equal
with high-end and energy-efficient appliances regarding items that can
potentially lead to increased rent. However, with the cost of a dryer and
washer averaging around 60% less than energy-efficient appliances, they remain
a very clear option for any owner looking to increase appeal. Other
unit-specific amenities include ceiling fans, lighting, electrical upgrades,
plumbing, garbage disposals and cable TV.