In last week blog we talked about the growing demand for multifamily and apartment housing in 2020. Today’s renter want more than just somewhere they can sleep, they are looking for a long term home to enhance their lifestyle.
Today, more than ever curb appeal matters
No longer are apartments dull and drab, instead they are bright, beautiful, and modern. A place they are proud to call home. The outside matters just as much as the inside. Even if you have amazing apartments with the latest technology, nobody will even see them if the outside is old and run down. Tenants today definitely judge a book by its cover.
The design trend for multifamily housing is Urban Elegance, according to the American Institute of Architects.
Urban elegance: Clean, sleek aesthetics continue to adorn multifamily buildings across urban skylines nationwide. Large expanses of glass, with seamless transitions between floors (and from interior to exterior spaces) are often used to achieve this desired appearance.
Multifamily Housing is Going Green
Today’s tenants are concerned about the environment. They care about their carbon footprint, ecological impact and sustainability. Younger consumers are demanding new building designs that incorporating green technology and older buildings become retrofitted to be more energy efficient. They are willing to pay more in rent to have features such as solar panels, decreased waste, healthy indoor air, Energy Star Certifications, and a recycling program.
According to the 2017 NMHC/Kingsley Renter Preferences Report:
- Approximately two-thirds, 61%, of renters said that they were “interested” or “very interested” in living in apartment buildings that have earned a certification for energy efficiency or sustainable design.
- Approximately three-quarters, 76%, of renters were “interested” or “very interested” in living in apartment buildings that recycle and have sustainability initiatives.
For a high return on investment it is important to attract new renters with a place they are proud to call home. Take that first step by contacting SWET Construction Group for more information.