- Invest in unique amenities to maximize profit, attract more tenants, and increase rent.
- Examples include fitness centers, co-working spaces/business centers, pet-friendly facilities, and rooftop gardens.
- Create an environment that offers more convenience and comfort for the tenants with smart home systems, reverse osmosis systems, and high-speed internet.
- Evaluate your options, brainstorm a list of potential amenities for your rental, and start building a better space for your customers.
As an apartment owner, your main goal is to maximize profit without compromising the comfort and satisfaction of your tenants. One way to achieve this is by investing in unique amenities that can add value to your property, attract more renters, and lead to higher rents. Here are some innovative amenities that can help you stand out from the competition and increase your bottom line.
Life & Work Accommodations:
One attractive amenity for apartment buildings is life and work accommodations. This includes features that allow tenants to downsize or stay organized. Here are some ideas:
Having access to a fitness center is one of the most sought-after amenities for renters in apartment buildings. With the increasing focus on health and wellness, fitness centers provide a convenient way for residents to stay active without having to travel to a gym.
Ideally, a fitness center should include equipment such as treadmills, ellipticals, weights, and exercise machines. In addition, you can also offer fitness classes or personal training sessions for an additional fee.
Co-working Spaces / Business Center
Incorporating co-working spaces in an apartment can be helpful for work-from-home professionals who lack a separate office space. This amenity is ideal for freelancers and self-employed entrepreneurs who work from home, providing a separate, quiet area beyond the apartment for dedicated work time. To ensure ease of use and versatile options, consider adding conference rooms, printers, and copier stations to the area hourly for tenants who necessitate them.
Pet ownership is on the upswing, and apartment living can pose a challenge for furry friends and their owners. To ensure your establishment is staying pace, it is recommended to include accommodations just for dogs and cats.
These can include a pet wash station or a “bark park” where dogs can run around freely and safely. Including these amenities in your building creates a market segment that will continually expand.
Create a rooftop garden that will serve both as a hangout and an attraction for your tenants. Add some outdoor seating, shading, and planters for the ultimate relaxing location for entertainment or a peaceful escape.
Give tenants the freshest, pick-your-own ‘urban farming’ experience by making the garden available to them for use as needed. For instance, you could offer raised garden beds for rent and seeds to grow a variety of fruits, vegetables, and herbs.
If possible, include a beekeeping area so that everyone will buzz about the state-of-the-art amenity. You can even harvest and offer the honey for sale in the lobby or as a unique amenity to tenants.
Sometimes it’s the little things that go a long way. Provide special features in your units themselves to make your tenants’ lives easier. These amenities are an attractive bonus for renters who value convenience and comfortability in their living situations. Here are some examples:
Smart Home Systems
This type of system utilizes advanced irrigation systems, light controls, TVs, and home security systems to construct more energy-efficient apartments. They can include sensors that switch off heating and cooling systems when there are no people in the room, minimizing energy usage and improving sustainability. Automated lighting to smart sound or entertainment systems can provide tenants with convenience, security, and peace of mind.
Reverse Osmosis Systems
Access to clean, drinkable water is essential for any home. Installing efficient residential reverse osmosis systems can provide tenants with pure drinking water at the push of a button. This amenity is especially valuable in locations where tap water isn’t safe to consume or has a foul taste.
Having a fast and reliable internet connection is essential in an age where many people rely on their devices for work. Make sure to provide renters with access to high-speed Wi-Fi, and include other features such as user equipment installation, payment plans, technical support, and discounts on add-ons or upgrades.
Incorporating unique and innovative amenities can significantly increase your property value, attract new tenants, and even retain existing ones. The amenities provided in an apartment can be a distinguishing factor for tenants, especially those looking for a convenient, modern, and efficient lifestyle. Investing in unusual services can undoubtedly upsurge the rent rates and property value while ensuring your tenant’s delight. So, as a landlord or apartment owner, treat yourself, evaluate your options, brainstorm a list of potential amenities for your rental, and embark on building a better space for your customers.