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What Amenities Do Multifamily Tenants Want?

Published on October 26th, 2018

When searching for an apartment, more and more features are beginning to become must-haves. In fact, this is something you may have experienced yourself when looking for your next rental. Today’s tenants are looking for more than just nice landscaping and decent sized bedrooms. For many younger renters, it is imperative to have a grocery store within walking distance and public transportation access no more than a few blocks away. It’s all about convenience. However, this trend isn’t just among millennials. Baby boomers, retirees, and active adults are also trending towards more urban lifestyles. The more walkable the location, the more attractive the space. But that’s not all. Here are just a few of the other amenities that Chicago property management companies have been seeing on the rise.

Deluxe Common Areas

Although it used to be all about the gym, it no longer stops there. Tenants now want more community spaces, such as lounge areas, community gardens, theaters, workspaces, and on-site cafes. Many developers have begun to incorporate unique activity spaces like these to set themselves apart and attract long-term, high-quality tenants.

On-Site Package Delivery Systems

As we’ve said, convenience is key. More than twenty-five percent of today’s workforce doesn’t work from an office, meaning shipping packages or mailing documents requires an extracurricular trip to UPS or FedEx. Because of this, on-site package delivery and pick-up are major incentives for young professionals. Smartphone alerts and online portals are becoming increasingly more standard.

Advanced Technology

Another trend that Chicago property management companies have begun to notice is an expectation among renters for advanced technology. This includes things like smart HVAC systems, universal high-speed Wi-Fi, and remotely monitored security systems. The “smarter” an apartment building is, the more appealing it is to tech-conscious renters. People value being able to access and control their apartment’s tech from their phone, including adjusting temperatures, lighting, and security measures.

Eco-Friendly Features

Savings for the tenant and the planet are a big perk. When a building increases its energy efficiency, savings can be shared with renters as incentives. Look into solar-powered charging stations, solar panels, LED lighting, or LEED certification.

Chicago Property Management Companies

The trends in the real estate market are constantly changing and evolving. Look towards Chicago property management companies for help. For all the latest information and best advice, contact Frontline Real Estate Partners today.

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