8 Amenities in Apartments That Renters Actually Want
As a property manager, you aim to keep your rooms rented out so you can keep generating passive income. Without residents, you're not getting paid. One of the best methods for attracting and keeping residents is having the amenities in apartments that your target renter is looking for.
Whether that's a pool, a dog park or something more practical like covered parking, amenities provide that extra "something" that renters will discuss with their friends and family — who might soon become prospective renters.
But which apartment amenities is the average customer looking to find in their next home? We'll talk about the most popular eight here.
These amenities are accessible to the broader community living within your properties. Because they typically work only for multi-building developments, you're not likely to have them if you're renting out a single condo.
1) Pet-friendly amenities in apartments
The term "pet-friendly" means different things to pet owners. Some want extensive pet-friendly features such as agility equipment in the dog park, and others just seek a quiet place where their cat will be accepted. More than half of Americans (around 70%, according to the American Pet Products Association) own pets. As a property owner, going at least halfway to accommodate pet parents will help eliminate vacancies.
If you're looking for ways to make your property more attractive to this demographic, consider one of the following options:
- Pet-friendly units: If you have enough available rooms to play with, consider making some of them pet-friendly while retaining some that are off-limits.
- Wash stations: Most pet owners of animals like dogs and cats face the inevitable moment when their furry friend gets dirty. Providing a wash station not only adds convenience for paw-rents but keeps your units' floors clean and stain-free.
- Fenced-in dog park area: Fewer properties will go as far as to include a dog park, so yours will stand out if you do. Even a small, securely fenced-in space will greatly benefit dog owners.
2) Parking perks
"What's the parking situation like?" — a question you might hear from a prospective tenant touring your property. Renters are looking for an answer that benefits their lifestyle, whether they're hoping to avoid tandem parking or willing to deal with it if it means a discount on monthly rent.
- Guest parking: Make sure apartment living never gets lonely by offering renters a place to park. You get to decide the hours and duration, of course.
- Covered parking: This setup allows your renters and/or guests to park without worry of extreme precipitation damaging their vehicle or snowing someone in. Covered parking can either look like a full garage ordeal or a few carports.
3) Storage space
Building storage units isn't a convenient or cheap endeavor, but renters are willing to pay more for the option of extra storage space. Many apartment communities offer a storage unit as an included amenity with some or all rental units to capitalize on this need. These included storage units may be on-site at the actual apartment community or offsite somewhere else. This is especially common in urban areas where rental apartments tend to be smaller.
4) Outdoor room to roam
As much as today's renter wants to bring the outside in with indoor gardens and other biophilic elements, they also want a little exposure to the real outdoors. Outdoor amenities could take shape as anything from grilling spaces to places to walk to a community garden. Dog parks could fall into this category as well, technically.
Other amenities in apartments that renters love
In-unit amenities and smaller, more fine-tuned perks often take less heavy lifting to implement. No matter how small your property management enterprise might be or how few buildings you're renting out, these seemingly minuscule tweaks can make your asking rent price feel more worth it to prospective renters. We'll list the most meaningful in-unit apartment amenities below.
5) In-unit washer and dryer
Renters generally don't enjoy the weekly slog to the public laundromat and avoid it whenever possible. If they can do laundry within their own home, don't be surprised when they sign a longer lease.
6) Digital payment options
In today's tech-saturated era, payment methods have shifted towards digital alternatives like direct deposit, automatic withdrawals and straightforward money transfers. Opting for online rent payments offers not only convenience but also enhanced security. Moreover, it minimizes the risk of missing out on on-time payments. Many landlords feel perfectly safe using apps like Venmo or Paypal for online payments.
Like an option for digital payment, most renters in 2024 expect to have a dishwasher option within their unit. It eliminates hours of dishwashing time every week, so make sure to install one or at least provide a portable one in every unit.
8) Smart home technology
While you may not want to rack up the costs associated with hiring a custom integrator, most renters surveyed want at least some smart tech in their apartment. According to our Rent Research analysts, it also pays off to provide it — as just one smart home product brings in an estimated $40 per unit. What are renters hoping for, specifically, in their smart apartment?
"Renters in homes and apartments wanted the most popular smart home devices (thermostats, lights and locks) fairly equally. For example, 46 percent of renters in houses and 45 percent of apartment residents wanted a smart thermostat. Another 45 percent of respondents in homes and 42 percent of survey takers in apartments wanted smart lights. Smart locks were a goal for 41 percent of house residents and 40 percent of apartment renters surveyed." — Rent Research, September 2022 study
Apartment amenities — the hidden key to fewer vacancies
If you have the right amenities in your apartments, not only will it be easier to fill properties, but renters will likely either renew their leases or agree to longer stays. This also saves you money that you'd otherwise need to invest in listing and advertising resources. Plus, it spares you the inconvenience of a near-constant move-in/move-out cycle.