As the demand for multifamily housing, particularly rental properties, grows, trends are changing. How developers and architects are working to attract potential tenants is changing. If you’re looking to get into multifamily real estate, like Steven Taylor Landlord, paying attention to these changes is important. Here are some of the top trends in multifamily real … Continue reading “3 Trends in Multifamily Real Estate”
As the demand for multifamily housing, particularly rental properties, grows, trends are changing. How developers and architects are working to attract potential tenants is changing. If you’re looking to get into multifamily real estate, like Steven Taylor Landlord, paying attention to these changes is important. Here are some of the top trends in multifamily real estate.
The demographics of renters are shifting. Many renters are millennials, who aren’t buying houses as early as previous generations did. As a result, they’re likely to rent for longer periods. At the same time, baby boomers are starting to move into apartments as they’re looking to downsize. With their children grown and living on their own, they’re finding they don’t need the space a traditional home provides.
Renters Want Tech
Technology is everywhere and is making lives simpler. Homeowners are turning to automation, giving them greater control over various aspects of their houses. Renters want the same thing. Some popular smart features that potential tenants are looking for include locks, thermostats, and lighting. Features that boost the building’s sustainability can also attract green-conscious individuals.
Amenities are Everything
Renters want amenities in their apartment complexes. One of the most popular is a fitness center. A fitness center that offers classes and saunas is even more attractive. Rooftop terraces are becoming a must, as are co-working spaces. Pools are still very popular amenities. For those with children, child-friendly amenities are a big draw. These include such features as an on-site playground and childcare.
Many individuals looking for an apartment have at least one pet. As more pet-friendly apartments are being created, the need for amenities that cater to four-legged companions is increasing. These include such things as a dog park and wash stations.
Paying attention to the multifamily real estate marketing trends is crucial for investors and property owners. Tenants are often willing to pay more for what they want, which can only help you if you can deliver.
How students live while at college has a huge impact on the school they attend. Campuses with quality student housing options can expect to have higher interest. Here are a few ways to positively impact students with available housing.
Many new students may never have had to share living space before. They likely grew up with their own bedroom and bathroom. Parents may want to have their child living in similar arrangements while at college. Others may opt to have a more inclusive living style to acclimate their child to a new environment. Including multiple unit options in the educational construction design can help your housing appeal to more students. These units may have single bathrooms, suites of rooms sharing a bathroom or communal bathrooms for a floor of rooms. Units may be single or shared. Some housing options may look more like mini apartments complete with kitchens and living areas.
Getting around a new city or town is crucial for any student. If the school is in a large urban area, access to public transportation is high on the list of priorities. Many students may not have a vehicle of their own to drive to off-campus events including simply eating out with friends. Many campuses partner with the local city bus system to offer their students access to easy transportation.
The environmental movement has made huge strides in recent years. College students are often at the forefront of trying to be sustainable. They tend to recycle and seek eco-friendly products as much as necessary. Using green building design can help the facility lower its impact on the environment and reach new students interested in sustainable living. Using energy-efficient lighting and HVAC can also lower utility bills while reducing carbon emissions. Low-flow shower heads and toilets can save gallons of water and result in lower water bills.