There is a new generation of homeowners emerging. Younger buyers are looking for high-tech, fast-paced, environmentally conscious and an active lifestyle. Apartment amenities are going through a shift to suit the needs of these younger buyers.
So, what are the 6 must-have apartment amenities that these new prospective tenants are looking for?
1. Fitness centers
Smart and interactive fitness centers are a major attraction that can replace the traditional gym memberships. This helps with the hassle of commuting to and from work and fitting the gym within their schedule. Tenants should bring instructors and offer fitness classes like Pilates, boxing, yoga and more. This creates a community automatically as well
2. Online rent payment
Digitized rent payment process is becoming more of a rule rather than the exception. Rent payments are becoming paperless and online to suit the needs of this digital savvy generation. They are simpler, seamless and eliminates the hassle of managing payments. Rent is the largest expense that is incurred on a monthly basis. Therefore, by utilizing online rent payments, there’s an added level of digital security.
3. Green landscaping & Access to nature
Green amenities are becoming a widely desired amenity providing tenants fresh air and a boost in their well-being and improves their health which has become a essential for the new generation. Furthermore, many studies suggest that having a view of nature helps with anxiety, and that popularized the use of healing gardens.
4. Recycling Services
The new generation are becoming more environmentally conscious especially when it comes to recycling. Offering recycling services or starting a recycling program can boost the quality of the apartment and will be appreciated. Providing easy access to recycling by providing recycling hubs and to encourage tenants to use these hubs instead of on-street bins.
5. Pet friendly
The demand for pet friendly apartments has increased due to the fact that 73% of millennials own a pet, which will influence their decision when looking for a home. Providing information on local vets, emergency services and daycares around the area will impress the new generation tenants.
6. Shared and workspaces
The new generation will consist of many freelancers, work-from-home, long hours and having to balance out several commitments. Providing a shared workspace will give them the option of having a flexible working space option to use which makes a big difference in the quality of living. This will also allow tenants to network and collaborate.
The key takeaways are flexibility and change - nothing is stagnant, and the property market is going through a lot of changes. Even without the push from a pandemic, landlords and property owners will always continue to rethink amenities to accommodate the new trends - this is an ongoing creative challenge.