As multi-family housing becomes a more common, longer-term preference for those of all ages and incomes, amenities continue to play an important role in catching prospects attention as well as keeping residents around. The right amenities can turn a multi-family building into a true, connected community, providing value for both residents and investors. 2021 multi-family amenity trends are here.
Choosing the right amenities can be difficult, especially in today’s world of rapid change. With new demographics of ‘renters by choice’ entering the market, amenities need to be flexible enough to evolve over time, staying relevant as the world changes around us. This doesn’t necessarily mean throwing every cutting-edge, luxury amenity into the mix. No, the amenity-war has gone on long enough. Wave the white flag and stop trying to out-build each other. Instead, focus on how residents want to live. Cater to their lifestyle needs by first considering their challenges and interests. Residents are looking for amenities that tap into their individual wants and needs.
All Around Wellness
Forget the sad, afterthought apartment gyms that barely get used. Fitness rooms have transformed into fitness centers, providing multi-functional accommodations for a variety of workouts. From traditional workout equipment to virtual instructors, group classes, yoga studios, and TRX- tenants crave active and engaged lifestyles, or at least access to it.
Renters desire for wellness doesn’t stop at physical fitness. A holistic approach to well-being has altered fitness goals to include mental health. In addition to working out, many people now prioritize the ability to de-stress and lead a well-rounded lifestyle.
Connecting people with their hobbies and fostering creativity is a great way to allow residents to de-stress and live the lives they want. DIY Makers Spaces are a prime example of a flexible amenity residents can use in a variety of ways. Haven’t heard of it? Our Makers Spaces are shared work and studio space that residents can use as they please. Whether they’re crafting, painting, molding, repotting plants, assembling furniture, or whatever else they want to work on, this space is perfect. With designated work stations and drying racks, our Makers Spaces help residents keep the mess out of their apartments and provides them a creative-centric space.
From Work to Play
Renting is no longer a transitionary placeholder while saving up for a starter home. Multi-family apartments are instead becoming a permanent choice for those who crave the freedom of renting. As multi-family communities become their long-term home, residents expect space outside their apartments to bridge the gap between living and working. Whether you offer dedicated meeting rooms, private co-working spaces, or a well-furnished Club Room with a variety of seating zones, a flexible space to fulfill the need for a workspace is an essential amenity as more and more people are currently working from home.
Outdoor amenities are the perfect escape for residents to get some sun without a backyard. Courtyard patios and rooftop decks with grills are the perfect place to unwind and safely socialize from a distance.
The Price of Convenience
Amenities aren’t one-size fits all, but most residents are looking for conveniences that can alleviate burdens of everyday life. Partnering with concierge services can make a world of difference, even if residents still need to pay for them. Third-party partnerships could include anything from cleaning services, dog walking or pet-sitting, grocery delivery, or laundry services. Taking these services a step further is a huge plus to residents. Dry-cleaning lockers, for example, make it easy for residents to coordinate their laundry pick-up through a mobile app. As technology changes everyday, many residents expect modern conveniences right at their fingertips.
But amenities don’t always need to be flashy. A comfortable, well-furnished lobby can serve as a ride-share waiting area. Built-out package rooms that can accommodate oversized packages are becoming more necessary in every community. Bike repair rooms and indoor bike storage is an excellent example of convenient amenities that are desirable and convenient without being too glamorous. Bike-sharing programs can also be an incredible useful amenity for residents who may not even want to go through the hassle of storing a bike.
Focusing on what is truly important to residents is crucial for resident retention. As more apartment communities begin to welcome pets, simply allowing pets is no longer enough of a draw for potential residents. With the work required to take care of pets, and love and commitment poured into our furry friends, amenities need to follow suit. Fenced-in dog parks and pet spas cater to the needs of residents and their fur-babies.
Creating a Community
Residents are also beginning to expect personalized amenities in the form of resident events from their multi-family apartment community. Resident events are a great way to keep tenants involved in the community and increase resident retention. Events that are flexible enough to evolve with changing demographics, interests, and needs are even more important. Cooking classes, happy hours, or even resident-only discounts or treats are a great way to connect with residents and keep them around for the long haul.
Not sure how to orchestrate resident events with a pandemic looming over us? We’ve learned to be social while distancing, and, not to brag, but we’ve become quite skilled at it. Learn about a few of our favorite resident events.
In short, don’t get caught up in the glitz and glam of every flash trend. You’ll get whiplash trying to follow every trend that’s in today and gone tomorrow. Instead, focus on flexible, well-thought out amenity spaces that residents will truly use. Adapting amenities to ever-changing resident needs is incredibly important in resident attraction and retention for multi-family communities.