• The Hottest Multifamily Trends The Hottest Multifamily Trends

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    The Hottest Multifamily Trends

    There are changes happening across the multifamily arena that is drawing interest from both tenants and property owners and managers alike. The changes are reshaping the way multifamily apartments are designed as well as the scope of amenities being offered.
    This helps draw a better caliber of tenant to the multifamily housing market, and present property managers and owners with an opportunity to offer high-demand services that result in increased rents. Here are some of the hottest trends and how they could apply to different types of multifamily properties.

    What Renters Are Looking For

    According to a survey conducted by Entrata, a multifamily technology company, price is the number one attribute (74%), followed by the neighborhood where the apartment is located. They also place a higher value on having utilities included in their rent, which ranked higher than the square footage of the apartment. Specific amenities came in at 31%.
    When renters were asked about their “top of mind” desires, the top three desires were in-unit washers and dryers, which was followed by a gym/spa, and the third was a swimming pool. 
    Entrata surveyed renters on what amenities they would be willing to pay extra for each month, and the responses were (in order of preference): smart technology, in-unit laundry, online rent payments, secure access, a gym or fitness center and smart-home features.

    Living Closer to Downtown

    One of the biggest trends in multifamily properties is that tenants are willing to give up square footage in order to live closer to the downtown...

    There are changes happening across the multifamily arena that is drawing interest from both tenants and property owners and managers alike. The changes are reshaping the way multifamily apartments are designed as well as the scope of amenities being offered.
    This helps draw a better caliber of tenant to the multifamily housing market, and present property managers and owners with an opportunity to offer high-demand services that result in increased rents. Here are some of the hottest trends and how they could apply to different types of multifamily properties.

    What Renters Are Looking For

    According to a survey conducted by Entrata, a multifamily technology company, price is the number one attribute (74%), followed by the neighborhood where the apartment is located. They also place a higher value on having utilities included in their rent, which ranked higher than the square footage of the apartment. Specific amenities came in at 31%.
    When renters were asked about their “top of mind” desires, the top three desires were in-unit washers and dryers, which was followed by a gym/spa, and the third was a swimming pool. 
    Entrata surveyed renters on what amenities they would be willing to pay extra for each month, and the responses were (in order of preference): smart technology, in-unit laundry, online rent payments, secure access, a gym or fitness center and smart-home features.

    Living Closer to Downtown

    One of the biggest trends in multifamily properties is that tenants are willing to give up square footage in order to live closer to the downtown...

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