Today’s renters place a high value on amenities, and modern multifamily communities are evolving to satisfy them. To attract current apartment seekers, newer multifamily communities are offering amenities that provide opportunities for social engagement, such as shared space and group activities and events, as well as special features important to pet owners and families. Offering affordable luxury alongside more upscale options creates a diverse, multigenerational community that can include recent college graduates, families, professionals, and empty nesters.
A Sense of Community
Amenities that create an enhanced sense of community are becoming very popular. Many residences are incorporating more common areas and opportunities for social engagement. Even with the current times and social distancing that’s happening - apartment communities are offering rooms that you can rent out with friends and family. Features such as clubhouses, game rooms, and common theater rooms are a great way to encourage people to hang out somewhere other than their dedicated space in their apartment. Many communities offer outdoor spaces as well, courtyards, patios, fire pits, and even dog parks. Of course, the ever-popular fitness centers and swimming pools are still highly valued, as well.
Another appeal to young professionals is the inclusion of collaborative business centers. Especially with working from home being more and more common, these workspaces away from the living space are being highly sought after. The appeal of renting out a business center or a room for the day is growing, we might continue to see this amenity become more popular as the year goes on.
Resident events are another fun way to please residents and make sure they are enjoying the community they live in! They promote the feeling of community that gets residents laughing, talking, or working together. Events like food trucks, delivering breakfast, contests, or giveaways show residents that their management team truly cares and wants to make sure they love where they live.
Fur babies are family, and many residences are now on board with offering a pet-friendly community. Multifamily property owners are recognizing more and more how important pets are to tenants of all ages and family configurations. On-site dog parks are a great feature for pets and their owners to socialize and enjoy the outdoors, and they are a pleasant alternative to walking a dog along city streets.
Renters often seek urban, multifamily living because it allows them to access a degree of luxury without breaking the bank. Builders are addressing this desire for affordable luxury with micro-living spaces. Smaller floor plans that incorporate higher-end appliances, flooring, high ceilings, and other features, as well as prized common amenities, appeal particularly to millennials, who have less need for space and tend to spend more time out of their apartments.
Access to nearby amenities and public transportation is highly desirable in multifamily communities, especially those in urban areas. Renters often seek out urban dwellings precisely because they offer easy access to work and entertainment. Locating near business and social centers with awareness of public transportation in the area make a multifamily dwelling particularly enticing. To further increase access, many buildings are also offering increased bike storage, that way they can store their bikes safely without having them take up space in their apartment homes.
As developers create these spaces that offer ample common space and cater to the personal desires of the residents, multifamily residences become a highly desirable choice for many. Have a question about any of Hubbell's fine multifamily communities? Contact us! We would be happy to help find the perfect community for YOU!