Top Apartment Amenities to Attract Millennials
Unless you manage a specialty multi-family property, your property better appeal to millennials. With the student debt exceeding $1.4 trillion and affordable housing inventories at all time lows, millennials are prime targets for apartment leasing offices. However, they are looking for more that just a place to live when deciding where to lease an apartment. These are some of the top apartment amenities to attract millennials to your property.
Technology based amenities are especially relevant to millennials. In fact, they can make or break whether millennials sign a lease with your property. Here are the top technology based amenities millennials look for when deciding where to lease an apartment.
High Speed Internet
While every property offers internet service, properties offering the fastest available internet speeds will attract millennials. This has become one of the top apartment amenities to attract millennials because they are extremely connected on multiple devices.
The typical millennial will have a phone, tablet, computer, and smart TV connected to their apartment Wi-Fi. Properties that boast high speed internet connections will appeal to millennials because they dread slow internet speeds and poor connections. Consequently, properties with slow internet connections should explore upgrading their cabling to offer higher speeds to millennials.
Strong Cell Phone Signals
Unless your property offers free Wi-Fi throughout the property, having strong cell phone service is a must. Millennials tend to use every inch of the property, and will be turned off by poor cell phone reception in the gym, dog park, game room, etc. Additionally, when they tour a property, they will instantly notice if their phone is not working. While this might not be a deal killer, it does create one more objection for the leasing office to overcome.
Millennials are huge Amazon users. It is not uncommon for millennials to receive packages from Amazon 7 days a week. As a result, having a virtual doorman is a great selling point because they guarantee the safe delivery of packages. In addition to securely receiving packages, virtual doorman can provide remote property access to service companies, guests, and locked out residents. While these might not be huge selling points to millennials, they are extremely convenient for property managers.
Remember, millennials love convenience, and nothing is more convenient than doing things online. First and foremost, apartment properties must build mobile friendly websites that perform well on phones. This is especially important to attracting millennials because they are highly likely to search for apartments online.
In addition to a mobile friendly website, properties may want to consider building a mobile app. Mobile apps can be used to pay rent, communicate with the residents, and manage maintenance requests. While similar features can be built into a mobile website, millennials relate extremely well to mobile apps. A mobile app is a great investment into one of the top apartment amenities to attract millennials.
Common Space Amenities
Millennials are looking for more than just a living space when they rent an apartment. According to Forbes, millennials love renting apartments because of the conveniences and sense of community they offer. Therefore, common spaces are one of the top apartment amenities to attract millennials. In fact, these apartment amenities are equally important as technological amenities.
Well Equipped Fitness Centers
If your property boasts a high fitness center, it has a major leg up in attracting millennials. This does not mean a room with two treadmills, but rather a legitimate space that can replace a gym membership. Great fitness centers will include cardio equipment, weights, and potentially dedicated spaces for yoga, pilates, or other fitness classes. If you really want your property to standout, consider on-premise classes taught by professionals at your properties a few days a week.
Dedicated Pet Spaces
Millennials love their pets, to the point many get their own Instagram accounts and birthday celebrations. Properties that boast dedicated pet spaces, are sure to appeal to these types of millennials. This is especially relevant for urban properties, where outdoor space is limited. Whether your property has a full blown dog park, or simply a pet waste area, make sure to highlight this important amenity to millennial renters.
Outdoor & Indoor Living Spaces
Remember, millennials want to live in apartment properties that do more than just put a roof over their head. Functional indoor and outdoor living spaces are a great way to meet this need.
Patios, pools, and BBQ areas are just a few of the top apartment amenities to attract millennials. While putting these types of amenities on the roof are a cool and trendy option, they work will anywhere on a property. For properties with limited outdoor space, promoting indoor amenities are a great way to attract millennials. Movie theater, game, and party rooms are all great features millennials look for when choosing an apartment property.
Work Share Spaces
With more people working remotely every day, work share spaces inside apartment buildings are becoming an increasingly popular amenity. Furthermore, many millennials freelance part time, so having dedicated work share spaces is great selling point. While, your apartment building is not supposed to provide private offices, it can explore converting underutilized spaces into work share spaces. Combined with high speed internet, work share spaces will attract millennials who work at home or freelance in their spare time.