How Does Your Amenities Package Stack Up?
Modern renters are incredibly discerning, and newly developed multifamily communities are rolling out the red carpet to attract and retain renters. It may seem impossible to keep pace with newly built developments, but there are several minor improvements to make any established community feel modern.
Capitalize on the technology needs of your tenants:
Consumers are accustomed to lightning-fast internet speeds, so ensure your entire community is covered with high-speed internet and whenever feasible include in-home Wi-Fi to tenants.
You can add this premium to the rent and provide a necessary and desirable service to your tenants.
Small, easy to install smart home devices are great amenities that your tenants will enjoy. USB plug sockets are a low-cost amenity that is a definite value add for your tenants. Other options include smart thermostats which help reduce heating and cooling costs over time and smart door locks for added convenience.
You may also consider offering complimentary virtual home assistant devices when tenants renew their lease.
Designate a space for dog owners:
Tenants with pets are willing to pay more for a friendly and accommodating home. Make it worth their while by creating an outdoor enclosed space where dogs can play. Add pet waste stations to keep the area clean and benches for pet parents to sit for a fully accessible dog play area.
Go the extra mile and provide water bowls at various spots in your community. It’s a small touch that pet owners appreciate.
Introduce a recycling program:
With growing interests in environmental sustainability, it’s almost a necessity to have a recycling plan for your community. Check your state and local ordinances for updates on their recycling policies, as more cities are working toward a “zero-waste” goal. Adopting a recycling program can be a relatively straightforward task that will reduce landfill waste, attract environmentally conscious residents, and present a marketing opportunity for your community.
If your community has unused space, consider providing additional value to your residents in the following ways.
Coworking spaces- Large open plan spaces used for individual and collaborative work by freelancers, remote workers, and entrepreneurs. These spaces typically have a mix of private work areas and communal workspace.
Additional storage- Space on-site allocated for residents to store additional belongings.
Package delivery center- Alleviate lost, stolen, and mismanaged packages by adding a delivery center to your community where packages can be safely stored for residents. These systems eliminate the burden of staff managing and signing for packages.
Bike lockers- For communities near biking trails or busy metropolitan areas, a locker room for bicycles may provide a great benefit to residents.
Car charging stations- Install car charging stations for tenants with electric vehicles.
Ride-sharing pickup locations- Provide a well-lit, designated pickup, and drop-off location for tenants who use ride-sharing services. Add a sign so drivers and riders know where to go.
There are several options for providing additional value to your tenants without large financial investments. You may also consider surveying residents to find out what small improvements they suggest, a small improvement can go a long way.
