What Renters are Looking for This Year

By: Ibby Ahmed

Recent grad from Indiana University with a passion for content creation, an adorable pup named Suki, and a newfound love of creating multifamily TikToks.

Anticipating prospective renters wants and needs gives you a competitive advantage in the multifamily industry. With so many new multifamily communities and properties being built all over the country, focusing on resident retention and meeting the needs of prospective renters has become increasingly important. We have many blog posts about what renters want based on data collected by PERQ from our solutions that live on multifamily websites. In 2021, multifamily trends are showing that outdoor amenities are rising up the ranks in what renters are looking for.

 

The way we live life has changed a lot in the last few years and with more and more companies and jobs becoming remote or semi-work from home, people are spending more time in their homes. We also all spent a better part of a year mainly inside. It’s no surprise that multifamily trends show that renters want outdoor spaces.

 

Outdoor Amenity Ideas

 

If you don’t already have outdoor amenities, we’ve got a few ideas on what you can add or budget for in the next few months to meet these demands and to increase the value of your property. A win-win situation! Some outdoor spaces that you can easily do are:

 

  1. Rooftop Terrace
  2. Grill and Lounge
  3. Work Space

 

The rooftop terrace is a great way to add outdoor amenities in an urban setting where you may not have the room to build outward. Everyone loves a good rooftop. From the views to a great aesthetic, rooftop terraces are attractive to renters and add some spice to your property. You can have fire pits, lounging chairs and sofas, dining tables and more! Add some cute lights and greenery and your rooftop is ready to go! It’s also a great place to do resident events from happy hour to a movie night, utilizing your rooftop is going to give your property an edge over competitors.

 

If you do have the ability/the yard space to add some grills and lounging chairs/sofas or dining tables, then do! As a renter, you can’t have a grill or that classic summer BBQ experience at your home. Providing grills and a space to entertain gives renters the ability to host these kinds of events and bring people to your property!

 

Lastly, adding outdoor coworking space is also a great outdoor amenity idea that is attractive to remote workers and learners. In order to do this you just need outdoor outlets and tables and chairs set up. Adding some nice landscaping or having a coffee shop do a pop up every now and then is a great way to create an outdoor work space that Millennial and Gen Z renters will love.

 

The best part is, if you don’t have the space for the last two, they can be incorporated into the rooftop terrace as well! Outdoor amenities are growing in popularity and multifamily properties that don’t meet this demand are going to be left behind. You might think “this is just a trend for 2021” but in reality, the changes that have happened that have led to this demand are lifestyle changes. That means they are here to stay long-term. It’s time to add outdoor amenities to your property if you don’t have any.