Owners and managers do what they can to increase the value of their apartment properties, but that doesn’t just stop at an affordable rent and well-maintained facilities. Going above and beyond to provide residents with premium apartment amenities helps to retain tenants, improve their quality of life, and ultimately make the property more attractive — among other benefits.
Property managers know what residents need first-hand as they are on the frontlines every day. They can offer valuable insight and relay resident feedback to give property owners a better idea of what it would take to improve their tenants’ quality of life. Think about discussing one (or all) of these top-notch apartment amenities.
Pump Up Pet Friendliness
Dog parks are pretty common these days; they’re cost-effective and offer a serious return on investment (low maintenance, little overhead). While you’re at it, offer a “spa” area that makes it easy to bathe pets, an indoor run for those bad-weather days, or even regular meet-and-greet social events for tenants that are also pet owners.
Upgrade the Internet
While it’s your residents’ responsibility to manage their home internet connection, it’s up to you to give them high-speed WiFi in the common areas. They’ll be listening to music in the fitness center and streaming movies in the lounge, and they’ll notice if the WiFi they’re using helps make quick work of that.
Work on Coworking
With so many of us turning to work-from-home business models these days, setting aside a designated co-working space can amp up the value of your property. Quiet common areas with high-speed WIFI (see above) can give tenants an alternative if they’re looking for a change of scenery during the workday. Throw in conference rooms and snacks for a real office-life environment.
Team Up with Tech
Home-dwellers aren’t the only ones who can use smart home tech and tools to help improve the efficiency of their space. Features like smart thermostats or cutting-edge security technology are easy to install and inexpensive and can be a quick upgrade for your maintenance staff to perform, regardless of their tech skills.
Focus on Fitness
There was a time when a treadmill and a few weights were all you needed to add a “fitness center” to your property. Now, though, residents expect upgraded spaces that go above and beyond the basics. Think about setting aside a space for group classes, adding a dedicated yoga studio, or even a smoothie machine for a post-workout fillup.
Enhance Your Outdoor Spaces
Depending on the key demographic you tend to attract, pools are a big draw. For a younger crowd, think about lap pools that help supplement your other fitness amenities. Family-friendly properties would do well to offer a lounge pool for playing. Basketball or tennis courts are also both great additions for those who would prefer outdoor athletics to stay fit.
Green It Up
Yard space can be a premium for apartment dwellers, especially if they’re living in the city. Set up a well-landscaped green area on your property where tenants can go to relax and unwind, host friends, and get in touch with nature. High-rise apartments can do this by adding vegetation to a rooftop area and further enhance it with comfortable seating or even a fire pit.
Green Thumb It Up
Community gardens help build relationships among residents, try out their green thumb, and save on their food budgets. There’s also a long list of benefits when it comes to the practice of gardening, especially for those living in urban or metropolitan areas. This is also an amenity that doesn’t inflate property maintenance costs and boosts value — which means serious ROI.
Game on, Gamer
What happens when the weather is cold or wet and outdoor amenities can’t be accessed? Residents with smaller living spaces will need a space on your property to host friends comfortably, and a game room or lounge can meet that need. Add a pool table, plenty of TV screens, and high-speed WiFi for an amenity that’s perfect for entertaining.
Bet on the Big Picture
With just a projector and some comfy seating, you can easily transform space on your property into a theater room. It can host community events like movie nights or tenants can request to use the space to host friends and family for a more private premiere. This is a high-end amenity that doesn’t require a high-end investment.
These are just a few examples of the premium apartment amenities you could add to your property to boost its value and appeal to tenants. We at Lex Group are always working to improve our properties in order to provide the best living experience for our tenants.