Comfort and convenience are king when it comes to signing new apartment residents and renewing expiring leases. We look for creative and affordable ways to increase community desirability for our properties and our owners that won’t break the bank and that keep tenants coming back for more.
Here are six multifamily perks you can implement to take your multifamily property to the next level of desirability.
1) Community-wide Connectivity
We are all connected 24/7. No one likes being kicked off line, scrambling for a connection or climbing hills to get one more bar on our cell phones. Connectivity throughout the entire apartment community is now expected. Residents will pick your community over your competitors if you are well connected. New In-Building Wireless (IBW) technologies that go beyond Wi-Fi are emerging that will allow everyone to be connected everywhere. Those that provide the best service will set themselves apart.
In the meantime, blazing speeds are available through fiber internet. Google Fiber offers super fast Internet up to 1,000 megabits per second. Google claims 3 out 5 residents say fiber makes a building more desirable. Check out what Google Fiber can do for your multifamily property here. Google Fiber is now available in Austin and San Antonio with more Texas cities being added. AT&T has speeds up to 500 Mbps. Check out more details on AT&T Internet 500 plans here. Check your area for more providers offering internet plans for multiple property signups. Look for names like Frontier, Infinity, and Time Warner Spectrum, among others. Super-fast internet makes for quick connections, seamless streaming and happy residents.
Add even more value with branded cell phone charging stations in the welcome center – come and sit a spell. Power banks with universal ports in laundry, fitness, and other common areas will be a much-appreciated convenience and residents will love you for it!
2) Yappy Hour – It’s Five O’clock Somewhere
Pet-friendliness puts your property on the list of the nearly 60% of millennials with a canine or feline family member. A whopping 88% of all residents surveyed say they would not object to pets on a property, according to the National Multifamily Housing Council. A community dog park, watering stations, yappy hours and available grooming, training and daycare services bring the community together and encourage residents to sign on and renew. Pamper the pets as much as their masters and you’ve made a perfect nest.
When it comes to pet deposits and pet rent, be sure to consider that Better World Properties research shows less than 20% of pets are ever reported to management.
3) Own the Ride, Not The Car
More and more residents are hopping into ride sharing services such as Uber and Lyft for transportation. Providing a comfortable and easy community drop-off and pick-up station makes it easy for residents and drivers to connect. This is another great place for a device charging station or power bank, compliments of management. Remember, it’s all about convenience and comfort. There are also car sharing services such as Zip Car where you can reserve a car and drive it for an hour or drive it for a day. Read more about Zip Car here and how to bring their services to your residents.
4) Better Blood Pressure, Better Sleep, Better Insulin Levels?
Yes, according to the Department of General Services (DGS), people who bike to work enjoy these healthy statistics and much more. Offering secure bike storage and a bike maintenance pole with tools at-the-ready is an excellent way to build tenant rapport. Biking is big and only getting bigger.
Did you know the average annual cost to maintain a car is over $8,000 while the average annual cost to maintain a bike is $308? What can you do with an extra $7,970 per year in disposable income?
Biking for health and biking to work means better health and a longer life. The DGS shares these statistics for those who bike to work:1
- Better blood pressure, insulin levels and triglycerides
- Better sleep and more energy
- 215-500 calorie burn during each 30-minute bike ride
- The average person loses 13 lbs. in the years commuting to work by bike
- People who bike to work have higher levels of well-being, self-confidence and lower stress levels
How about that for return on investment?
5) Light Up The Night Right and Respect The Stars
A well-lit property is not only safer, but cozier and more beautiful at night when done properly. Bright lights and 24/7 lights can be irritating to neighbors and actually do damage to the eco-system. According to the International Dark Sky Association (IDA), the recognized authority on light pollution, the inappropriate use of artificial light at night is an environmental pollutant that harms our planet and robs us of the opportunity to experience the wonder and beauty of the natural night sky.
Artificial light disrupts our world’s ecosystems by radically shifting night into artificial day. Artificial light disrupts animal and human endocrine systems and circadian rhythms interfering with sleep, health and reproduction. This is why we hear birds singing at night and nocturnal animals are reducing in population due to excessive light pollution.
We all want to preserve our planet. It’s the only one we have. Well-planned, eco-friendly lighting can illuminate walkways and entrances while preserving the night sky. Check out eco-friendly dark sky lighting resources at the Dark Sky website.
6) The Friendly Art of Neighboring
We all have an innate need for community and connecting with those who live nearby. The art of being neighborly has gotten buried in our digital lives. When surveyed, most people are hungry for a real community connection though most don’t know their neighbors other than a quick “Good Morning”.
Designating a trained community member or couple to welcome new residents, introduce like-mindedness and keep the social aspect of a community vibrant is a way to build long-term resident relationships and solidify easy renewals. Plus, it just makes the community more fun! Whether you achieve this through a professional organization such The Cares Program, hire and train your own community go-to people, it is an investment in the human connection that is well worth the expense.
As you can see, perks and amenities don’t have to be over the top. There are simple things that can make everyday living at your multifamily properties more comfortable, more convenient and more fun. More fun means more happy residents.
This is how we how we continue to make it a better world at Better World Properties LLC. Would you like to review your apartment properties and see how to improve operating procedures, add value, increase ROI while attracting quality residents? You can read more about our services here.
We would love to talk with you. Give us a call. Better yet, come visit. We love to talk apartments.