Understanding the person who is going to rent a home in your multifamily development is really important if you want it to be a success. Once you know your renter inside-out, you won’t have any trouble creating the kind of multifamily development that will appeal to them.
So, before you begin construction, you need to ask yourself: what do you know about your potential renter? Are they men, women or couples? What age group do they usually fall in? What kind of work do they do? Are they interested in fitness and health? Do they love going out with friends and family members? Are they thinking about starting families? The more you know about your potential renter, the more likely you are to create homes that they will want to live in.
Here are some insights about what renters really want, from the renters’ perspective:
Work-from-Home Amenities
After the pandemic, more and more people are choosing to work from home, and many companies are fine with this because they’ve realized that it doesn’t interfere with productivity. As a result, renters appreciate it if their home has a home office where they can set up a workstation or meet with clients. High-speed internet is also a must. You can also consider setting up a co-working space where various renters living in the same residential complex can have a coffee and work together.
Fitness and Health Amenities
Most renters are interested in fitness and health amenities, no matter what their age or profession. Setting up a gym in the residential complex you are building, as well as a swimming pool, can be a selling point. A room for yoga/dance classes, a walking track and tennis/squash courts can all help in attracting renters and keeping them at your multifamily development in the long term.
Keep in mind that areas reserved for fitness are also great for socializing between renters. And renters who socialize and have friends in a multifamily development are more likely to stay there.
Pet-Friendly Developments
Renters who have pets prefer to living in pet-friendly developments. So if you can reserve an outdoor space for a dog park where people with dogs can bring them to play and socialize with each other, that can be yet another selling point for your development. A walking path where dogs can be walked, dog-grooming services and doggy day care can all help in attracting renters who have pets.
Outdoor Spaces
Given that people spend most of their days in enclosed offices, it can be helpful to offer them outdoor spaces where they can unwind after a long day. Balconies and verandahs can help make an apartment seem more homey. Gardens where people can have barbeques or just hang out by the fire pit encourage socializing as well as spending time outdoors, both of which can be therapeutic. Walking trails can also be great for exercise as well as spending time outdoors.
Energy-Efficient Appliances
Everyone needs a refrigerator, a washing machine, a dryer and, possibly, a dishwasher, in addition to a cooking range. Given that these things are basic necessities, it makes sense to buy the ones that give you the most bang for your buck. Energy-efficient appliances are an attraction to renters, partly because they save money and partly because they are good for the environment. Additionally, they tend to be more durable and have less breakdowns than appliances which are not energy-efficient.
Stylish Interiors
Everyone wants to live in stylish interiors, but not everyone has the eye of an interior designer. The vast majority of renters will appreciate it if you give them something that looks great and is comfortable from the get-go. Stylish interiors don’t simply make living in the development more comfortable; they also encourage renters to invite friends over. When you have a home that you’re proud of, you want to show it off.
At Ted Trout Architects, we focus on understanding you and your customer inside-out. Contact us if you’re interested in creating the kind of multifamily development which will not only attract renters but also contribute to their happiness long term. By providing the kind of amenities that renters at large are looking for, we’ll help you create the type of residential complex that makes things easier for people in every aspect of their lives.
