Learn why what renters look for in home design may evolve due to the pandemic
The ongoing COVID-19 pandemic has kept many Americans largely confined to their homes since mid-March.
For many of us, our homes have not only served as our safe haven but also as our new place of work, education and recreation.
And with 78% of those working remotely saying they would like to continue to do so even after the pandemic subsides, there’s a lot more scrutiny being put on the layout and amenities of their living arrangements.[1]
Join us to explore some of the emerging apartment must-haves for renters navigating these challenging times and beyond.
#1: Defined spaces
According to a study by CommercialCafe, one top concern for those working from home is the lack of separation between work and home, and the amount of distractions (including children and pets) that spill into their workday.[1]
To reduce stress and create a more harmonious work-life balance, we predict that renters will begin to seek out apartment units that offer a study, spare bedroom or some other kind of physical separation between work and home areas.
#2: Reliable internet
With the increased use of virtual tools for work, internet connectivity is another important consideration for today’s renters. Multifamily owners can make their property stand out by offering access to a high-speed, always-on internet connection.
Related:
How multifamily owners can build trust with tenants during and after COVID-19
#3: Outdoor spaces
At a time when staying at home is the preferred option, renters with a porch or a balcony have been able to enjoy a breath of fresh air without leaving their safe haven.
We predict that multifamily properties offering personal outdoor spaces and communal outdoor amenities—like gardens, firepits or barbecue areas, exercise areas, and dog parks—will experience increased demand in the coming months and beyond.
#4: Energy efficiency
Spending more time at home means more energy usage, which means higher bills. And with many tenants currently operating on a reduced income, they’re likely to be even more price-conscious than before.
The trends of energy-efficient appliances and smart home technology have been around for a few years. Right now, they’re more relevant than ever as renters are looking to spend their money wisely.
#5: Accessibility and maintenance
With health and safety at the forefront of everyone’s minds, renters are seeking homes where they feel protected. The cleanliness of communal areas such as entryways, mail lockers and elevators are coming under much closer scrutiny—so multifamily owners need to make sure their cleaning procedures are up to scratch.
Renters may begin to gravitate towards apartment buildings that offer enhanced safety measures and touchless entry, as well as designated areas for food delivery drop-off. Apartment developers may even consider using antimicrobial materials in the construction of new units and their communal areas.
The COVID-19 pandemic has created many challenges for both tenants and owners. Where multifamily owners can find success is by recognizing these emerging apartment must-haves and adapting to meet the changing needs of their tenants.
How we can help
In challenging times, experience matters. Visit the Resources section of our website and you’ll find:
– Downloadable E-Books & Checklists
– Video Library for Investors
– Trusted Vendor List, and more.
Visit now at 100units.com/resources.
Keep up to date with the latest multifamily news! Follow us on Facebook and LinkedIn.
Sources:
1: CommercialCafe, Survey: 6 in 10 Americans Don’t Want to Work from Home All the Time