Housing costs are going up, so tenants are quickly looking for luxury in any space they can find it. Fortunately, companies that own luxury apartments already have a head start.
Not only can touches of luxury allow you to charge more per month, but it also means you're more likely to find qualified and eager applicants who will quickly fill any vacancies. These are the key features many tenants are seeking out.
Safe Mail Options
Mail theft has become a massive issue across the country. Not only are packages getting snatched away from doorsteps, but letters and paper mail are also being stolen at a groundbreaking pace.
Tenants want a space that’s both safe and reliable for them to retrieve their mail. Look into creating a parcel locker space that will ensure only the correct tenants will have access to their mail and packages. This will free you from having to hold it in the front office and will ensure that nobody needs to deal with packages left in hallways.
An Updated Gym
Since the beginning of the pandemic, there’s been a huge push for people to focus on their physical shape. Whether it’s for health benefits or not, many tenants expect a gym: and tenants of high-end apartments want them to be updated and better than a gym they’d pay for a membership at.
This means up-to-date equipment, a clean and safe space, and televisions or other entertainment they can watch while they're in motion. Using equipment with a good noise reduction coefficient will also ensure the gym feels like its own quiet world so that the noise doesn't travel.
Updated Bathrooms
Bathrooms are spaces that need to be updated for a complex to feel high-end. This means wall-mounted faucets, anti-fog mirrors, updated fixtures, and a large tub and separate shower. If you can only update some, try to update every master bathroom. People want luxury for themselves and may not mind if the second bathroom is a classic single tub and single sink.
Modern Appliances
Appliances are an expensive thing to update, especially en masse in an apartment complex: but they're a necessary update. Not only will updating your complex's appliances give every room a newer feeling, but they'll also cause fewer maintenance calls and fewer requests from long-term tenants to update as they live there.
You should also add smart features like a smart thermostat in every apartment, which should be a standard for all complexes now. Smart thermostats allow tenants to control their heating and cooling from anywhere in the world, which will help lower their monthly costs and give them the chance to feel more control over their apartment.
This can also help give your apartment complex something to boost as a green and forward-thinking company, which will help sell to the thirty percent of customers who seek out green and eco-friendly-only purchases.
Gorgeous Floors
The floors of your apartments, the hallways, and any common areas matter. In most common spaces, it should be flooring that can handle constant scuffing and walking, like a high-quality wood-composite or vinyl. This type of flooring can also work for tenants' apartments, but it's important to keep carpet in the bedrooms at least. Carpet allows bedrooms to feel more welcoming and will allow those that tour to feel at home already. Make sure to use neutral medium-tone colored carpets since these won't hold onto stains as much.
In-Complex Work Spaces
Almost a quarter of Americans are still working from home: so it’s vital that there’s a space they can use when necessary. You don’t have to offer a massive space, but a general shared-office area is an awesome option. Set rules for noises and distractions, and create a comfortable and quiet space for tenants who want to take a day of not working in their apartments.
You want your tenants to work hard and continue to be able to pay their rent, so giving them a space that’s comfortable and quiet to work in will encourage them to stick with their jobs.
Luxurious Finishes
Luxurious finishes can change everything about space! This could mean things like radiant floor heating, windows with anti-glare one-way glass put in, updated gorgeous hallways, and more that can all add up into a better space.
On the exterior of the property, create a space that feels inviting with more greenery, beautifully landscaped flower beds, and green spaces, and ensure that people are wowed every time they arrive. These types of updates will release the same feeling someone might feel arriving home to a manicured lawn, which will increase how happy they are coming home to their apartments every day.
Every Tenant Wants the World
Whether this is the first apartment building you've opened or you're updating yours to bring in better tenants: it's a good idea to update the space. Not only will this improve the reputation of the building, but it'll also allow you to charge higher rent.
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