What are the most sought-after amenities that renters look for? That was the question posed by the National Multifamily Housing Council and Kingsley Associates in a recent survey of some 120,000 apartment dwellers, and the results were much more down-to-earth than others might have you think.
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“Magnificent clubhouses and media rooms may look great on tours, for both prospective residents and equity investors, but they often don't get used as much as you'd think,” Jay Denton, senior vice president for research and analytics for apartment data firm Axiometrics, said to the National Real Estate Investor.
Instead, the top-ranked, most-wished for rental amenities were: Fast Internet access, a parking place, walk-in closets, soundproof walls, private outdoor spaces, like patios or balconies, a washer/dryer unit, microwave and refrigerator + water/ice dispenser.
That's not to say nobody sets their sights a bit higher. In fact, four out of five respondents expressed an interest in a swimming pool, and indicated they'd be willing to pay more to get one. According to Denton, it's all about having that extra place to hang out and kill time.
“I’ve seen more cabanas and other gathering spots near the pool so that it has some functionality during the winter,” Denton said.
Just as important as amenities is the location of the property. Over fifty percent of respondents said they'd like to live within walking distance of a good restaurant or grocery store, something which Denton says is actually a “huge amenity” in itself.
I must say you are right on with the amenities. As you can see the trend of apartment living is shifting towards the feeling of being home. As home prices hike, more and more are renting to not simply rent but make the apartment feel like home. And so amenities are crucial. This product is quickly trending among residents.