Attracting and retaining today’s renters is the key to successful and profitable multifamily housing. Things like an updated design, working space, sustainability, relaxing outdoor space, and safe connectivity, is high on most renters wish list.
According to RentCafe:
The only generation to record an increase in renting activity in the past year, up by 21%, Gen Z is playing a big role in the urban revival, bringing to the front lines of development these Zoomer cities. Currently representing over a quarter of lease applications nationwide, Gen Z renters are swarming large urban hubs that promise job opportunities, bringing new life into cities that were once considered doomed due to the pandemic
The Construction Institute reveals the hottest trends for multifamily housing
Focus on sustainability
Healthy buildings, from natural, environmentally conscious materials to health and wellness spaces, improved HVAC systems, and water purification systems, thee is a trend toward authentic, personalized interior environments. While popular pre-COVID, certainly post pandemic they will be even more valuable.
Safety and technology
From parcel storage and pick-up to security systems, elevators and doormen/concierge services, the incorporation of touch free technology is set to reimagine these experiences. Extend this to scheduled maintenance visits, reservable conferencing space and amenity areas, as well as thermal comfort and building management system, and technology quickly becomes the most versatile feature of post pandemic life.
Outdoor space
More people are looking to exercise, take a break to walk their dog, or bike when possible instead of using transit. Whether as a shared amenity or a private feature, the ability to step outdoors into the fresh air for work, play, or relaxation will be a critical component of post-pandemic living.
Existing housing should ensure their establishments keep up with the needs of today’s residents.
Incorporating a fresh design into a new construction or a simple upgrade to an existing property can dramatically improve the environment, quality of life for tenants. It will also go a long way towards keeping the occupancy rate high.
SWET Construction Group is proud to be a leading senior community contractor in the Southern United States. Our extensive experience and technical knowledge sets us apart and also allows us to keep contraction cost within the allotted budget.
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Existing housing should ensure their establishments keep up with the needs of today’s residents.
Incorporating a fresh design into a new construction or a simple upgrade to an existing property can dramatically improve the environment, quality of life for tenants. It will also go a long way