Recently, Apartment Guide released its five trends for apartment hunters in 2019. While I agree with every point mentioned, there was one thing that stood out: Apartments will be getting sleeker and more luxurious.
High-end Amenities and Luxuries are Becoming More Common
It wasn’t long ago that renters seemed to be happy with a swimming pool, workout room and laundry area – if they were lucky. But if you’ve toured an apartment complex over the past year, it’s becoming obvious that property owners are trying to attract renters with new or upgraded amenities. Anything from in-unit granite countertops to hardwood floors and even smart home-like features that can be controlled by an app are becoming more common.
What might be even more interesting is that apartment hunters are beginning to expect some of these higher-end features. In fact, when asked what amenities Americans want most, renters frequently named coffee shops on the property, Amazon lockers, USB charging outlets in unit and thermostats or door locks controlled by apps.
What Does This Really Mean For Renters?
For one, it shows that property managers and landlords are beginning to pay attention to renters’ demands and are taking steps to provide the same conveniences that you would expect to find in a new house.
But it also means that renters may have to pay more for these added features and amenities. According to the JCHS State of the Nation’s Housing 2018 report, the majority of new rental housing construction is multifamily buildings with a variety of amenities. As a result, renters can expect to pay more to offset construction costs and the additional amenities – even in older units that are just upgrading to stay on par with new construction. —