Long gone are the days of the close parking spot and an elevator to convince buyers and renters to move into your property. What are some of the most sought-after and popular amenities for today’s buyers and renters? IKO Community Management lists the top high-rise amenities for this year:
Pet friendliness. According to REscour, 57 percent of millennial households own a dog or cat, and according to Appfolio, millennials make up more than 40 percent of the housing market. Of those, 90 percent will be renters. With numbers like that, you can’t afford to ignore the furry friends. Consider including a bark park, 24-hour on-site pet sitting, and other pup perks.
Energy efficient appliances. Today’s buyer and renter have a propensity to be eco-friendly, so energy efficient appliances are a must-have. They save money, which can be spent on local fun, and last longer than older models. Look for the ENERGY STAR label on dishwashers, washing machines, dryers, refrigerators, and freezers.
Fitness areas, especially those with group fitness options like yoga and Pilates. Long gone are the days of two-bike and treadmill gyms. Today’s young buyers are looking for studio-like fitness options, so expand your building’s existing area, splurge on new equipment, or hire a set of trainers for the ultimate luxury.
Online capabilities. Say goodbye to the days of paper documents. Because the new generation of buyers and renters are more tech savvy (and eco-conscious), they welcome the shift to online capabilities for paying rent, requesting maintenance service, communicating, and more. If a first-time renter has to take out a checkbook, consider your amenities of the stone age.
Connectivity. Along the same lines, property owners should offer free WiFi, high-speed Internet, cell phone reception, and other connectivity benefits. This provides convenience and an easier opportunity for residents to share their positive experience online. Referrals go a long way in the property business, if people love where they live.
Bike racks and storage rooms. Biking and walking are on the rise as forms of daily transportation. In fact, the U.S. Census Bureau reported that in the past 10 years biking to work has increased 60 percent. Because no one wants their bike to take up precious floor space, bike racks or storage is a big bonus.
Valet trash and recycling services. Multiple studies show that millennials actually recycle less than previous generations, but, with their hyper interest in saving the environment, they still want to try. Make it more convenient by offering trash and recycling services at their doorstep. It’s worth the extra effort to keep your residents happy -- and in your property.
Revamped business room. Most people have personal computers and can print and scan important documents at their office. Because of this shift, turn your property’s “business room” into a casual, re-energized mixed use room. Consider putting in a gourmet coffee bar for a morning pick-me-up, setting up billiards or a ping-pong table, or installing a satellite TV for the big game.
Customer service. Young buyers are very appreciative of a great customer experience. Whether you offer wake-up calls or emergency care, these little services go a long way.
Whether your budget's tight or your property doesn't have the space, it can be hard to keep up with the latest trends in high-rise amenities. However, if you have the capabilities, it’s worth the splurge in effort and funds to keep good residents around longer.
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