Skip to main content

5 Surprising Resident Amenity Trends to Watch in 2020


As we transition into 2020, commercial realestate professionals need to start gearing up for the emerging trends that are reshaping the industry.

When it comes to the multifamily arena, these popular amenity trends are at the top of residents’ most-wanted lists. Here are the top trends based on the 2020 Apartment Resident Preference Report conducted by NMHC and Kingsley Associates.

Smart-powered Voice Assistance

According to the report’s data, digital voice assistants are highly coveted by the tenants of tomorrow. More than 40% of respondents say they’d be interested in living alongside a voice-powered AI home assistant, such as Amazon’s Alexa and other variations.

Including this in your multifamily package can give you a competitive advantage in 2020 and also be an attractive marketing point. Consider adding in-unit voice assistants as a luxury amenity in your multifamily strategy.

Pet-Friendly Amenities

Pets are apart of the family, too! Multifamilyrenters are looking for more than just a pet-accepting community ⁠— they’re looking for a place that offers great pet amenities. Specialty walking areas, mini dog parks, doggy daycares, grooming stations, and other on-site services will be important to tenants.

Be sure to think outside of the box and plan for pets. Establishing a pet-friendly community with all the works will help you attract residents - especially when ⅓ of apartment residents have a furry friend.

Increased Connectivity

When so many areas of life happen on the web, no one wants to see a ‘No Service’ message on their wireless device. Connectivity is key for 2020’s multifamily residents. Reliable cell phone reception is a must all throughout the building. Whether it’s in units, at the gym, in the lobby, and even in the garage; apartment residents want to have a full 5 bars.

Community wifi is also important for the multifamily sector as it’s a strong competitive advantage for the tech-savvy tenant population. Make sure your building has the necessary infrastructure to support your residents’ tech and connectivity needs.

Cutting-Edge Smart Apartment Tech

Smart Home technology isn’t just for traditional family homes anymore - it’s entering into the multifamily terrain.

One of the hottest amenities that renters are after in 2020 is access to Smart Apartment technology ⁠— specifically, the money-saving kind. Smart technology can lower energy bills and limit wasted resources.

Some of the most coveted examples are Smart thermostats, lighting systems, and locks. Offering your tenants these services will be a must as it becomes a baseline requirement of tomorrow.

Short-Term Rental Options

Contemporary multifamily residents are looking for flexibility and freedom, and they’re attaining it through short-term rentals. As mobility increases all around the globe, not everyone wants to commit to a one-year lease. In fact, 60% of the survey’s respondents said that short-term rental options would positively impact their impression of a multifamily community.

Short-term rental options are helping apartment buildings fill vacancies, meaning it’s a must for 2020’s multifamily arena.

Make sure you’re incorporating these 5 trends into your 2020 multifamily strategies.

Comments

Post a Comment

Popular posts from this blog

4 CRE Trends We Can Attribute to Millennials

Today’s workforce is undergoing a major shift in population. As of 2017, 56 million Millennials are either working or actively searching for work , making them the largest segment of the U.S. labor force, surpassing Gen Xers in 2016 and this will eventually lead to an impact of office space needs and what companies are looking for with new office leases.   More than one out of every three American workers is a Millennial -- more than Gen Xers and much more than Baby Boomers. And, just as every other generation that came before them, Millennials pride themselves on marching to the beat of their own drum, if you will -- wearing different clothes, listening to different music, and working differently. The very idea of where and how we work is undergoing a revolution right now, with major changes being made in physical design and decor. Here’s a closer look at 4 CRE trends we can attribute to millennials… 1. Millennials prefer non-traditional workspaces   ...
Post a Comment
Read more

NAI Emory Hill Sells Wilmington Shopping Center

  Wilmington, DE – NAI Emory Hill ( www.naiemoryhill.com ) is pleased to announce the sale of a 8,710 square foot shopping center located at 2308 Concord Pike in Wilmington, DE to The Wittig Family at DSM Commercial. Dave Morrison and Jim O’Hara Jr., of NAI Emory Hill, represented the purchaser and Seller in this transaction. This retail center is anchored by Mattress Firm, Green Drop and China Inn. The center is strategically located at the intersection of Sharpley Road and offers a great retail location along the busy Route 202 corridor. NAI Emory Hill is a completely full-service commercial and residential real estate firm serving Delaware and the surrounding counties of Maryland, New Jersey and Pennsylvania. Founded in 1981, we have the resources to design, build, finance, lease, sell, manage and maintain commercial and residential properties throughout the Mid-Atlantic . Learn more about our services at: www.propertymanagementdelaware.com www.emoryhillhomes.com
Post a Comment
Read more

PropTech 101: What CRE Professionals Should Know

Everyone in the CRE biz has doubtlessly heard the term proptech getting thrown around. Whether it’s been in article headlines, on the web, or during business conversations; ‘proptech’ has officially integrated into the commercial real estate vocabulary. Unfortunately, there isn’t always an on-hand dictionary available to help novices decode the latest and greatest CRE lingo. While proptech popularity has surely skyrocketed during 2019, some of us still may be confused as to what exactly proptech is. We’re happy to clear up the confusion; covering what proptech actually is and why CRE professionals should care. PropTech Explained The moment you’ve been waiting for is here… when you finally get a concise definition of the term PropTech. According to real estate technology experts at Forbes , proptech is ‘the acronym used to describe any technology for the real estate space.’ If that’s not clear enough, here’s another universally-accepted explanation devel...
Post a Comment
Read more