Other than location and rental rates, one of the first things that potential tenants look for in listings is the amenities included. Some amenities appeal to a certain target market, while others attract all sorts of renters. A single unique feature can make all the difference to someone looking for a place to rent, and for you, that's a way to increase rental income.
In-Unit Amenities
Stainless Steel Appliances
If you want apartment amenities that will make your rental units look more modern, then you can't go wrong with stainless steel appliances. They are highly resistant to scratches, rust, and dents, and the non-porous surface makes it easier to clean. They go well with any interior design, making it easier for you to make changes.
Washer and Dryer
Laundry facilities are crucial for both single-family homes and multifamily properties, but the latter gives you the option to offer individual or shared facilities. For smaller apartment buildings with fewer rooms, in-unit laundry can be an option for you. However, communal laundry rooms make more sense in rental properties with over 30 units.
Smart Home Features
Modern renters will prefer rentals equipped with modern technology. Smart home features are among the most sought-after amenities, which include smart thermostats to reduce energy consumption. You can also install smart locks for better security, or more cost-effective upgrades like smart lights. Tenants can typically use their own phones or tablets as a smart access control system.
Outdoor Balcony
After the recent pandemic, people appreciate the outside air much more, leading to an increase in prospective residents looking for rentals with balconies. They get to be outside without leaving the premises, which can prevent the feeling of isolation in a closed living space.
Community Amenities
Covered Parking
Just as a private garage is a great amenity for single-family homes, covered parking is the equivalent for multifamily buildings. Residents prefer to have an allotted space for their vehicles instead of parking outside the rental property. You may also assign spots, which can reduce potential disputes between residents.
Fitness Centers
Tenants usually rely on nearby gyms to work out. A fitness center within the rental property can be a huge selling point for potential renters who live a healthy lifestyle, especially in apartment complexes that are nowhere near gyms. This requires a significant initial investment, so consider your target market first and determine whether this would help attract tenants.
Working Station
Many residents take their work home, but some don't necessarily like working alone. A designated co-working space can be great to encourage engagement among apartment communities. Make sure that your tenants have access to high-speed internet, which is crucial to most remote workers.
Pet Amenities
Pet owners would appreciate amenities that would make their lives easier, such as pet washing stations, dog parks, or other features that improve pet-friendly units. Besides, a pet washing station will prevent dogs from tracking mud all over common areas, saving you the trouble of cleaning it up. Showing care for pets will show potential tenants who are also pet owners that they are welcome in your property.
Other Transportation Amenities
To prevent overcrowding your parking lot, you can designate a space for visitor vehicles as well. An uncommon apartment amenity that some residents may appreciate would be EV chargers, especially with the increase in potential renters who own electric cars.
Outdoor Space Amenities
Swimming Pool
It can get hot in Columbus, GA, with summers experiencing 90°F heat. A swimming pool would improve tenant satisfaction, and more prospective residents would seriously consider your listing. In addition to fitness centers, a swimming pool makes it possible for tenants to engage in water-based exercises.
Green Spaces
Gardens with walking paths will not only improve your curb appeal, but also make residents feel at home in your rental property. If you intend to add a dog park, having it positioned beside your outdoor spaces for residents can create a convenient hangout area for everyone.
Rooftop Lounges
If your rental property has an accessible rooftop, you can take the opportunity to turn it into a lounge and add outdoor amenities like grills, lounge chairs, and tables, so the space can also function as a co-working area. Other desirable outdoor amenities you can include are fire pits and even projectors for movie nights.
Apartment Amenities FAQs
Are in-unit laundry facilities better than communal laundry?
- That depends on how many rental units your multifamily property has. If you have over 30 rental units, it would make more sense to create a communal space for laundry, given how much money it will take to install laundry amenities for each unit.
What are the best pet amenities I can add to my rental property?
- Pet washing stations and dog parks are popular in pet-friendly rentals, especially in apartment complexes that leave little room for pet activities.
How to determine which are the top amenities for my target market?
- You can ask your current residents which new amenities they want. Adding suggested upgrades can both improve tenant satisfaction and make you stand out in the rental market. You can also stick to generally beneficial amenities, like high-speed internet and air conditioning.
What are the best amenities to improve security systems?
- You can invest in tech upgrades that can be both secure and convenient for tenants. Smart locks allow residents of the rental property to enter through biometrics, pins, keycards, or digital access codes, making it difficult for intruders to enter.
Which amenities can improve rental income?
- While all amenities help improve rental income by making your rental listings more attractive to potential tenants, some have a more direct impact, like smart thermostats, since they can reduce energy usage.
Maintaining Your Upgrades with Professional Help
Even with the best amenities, you cannot maximize their value if they don't last. The key is continuous maintenance and inspections, which can be a lot to do for just one person. Ten20 Property Management can help you with that.
With our rental industry expertise, you can rest assured that your investment and your tenants are taken care of. Our property managers will take your goals to heart and help you improve your property value.
Learn more about what we can do for you, and call us today!
