In-demand and popular features within apartments and homes around the world are constantly shifting and changing, particularly over the past twelve months, as the pandemic has wildly changed the way of living for millions of people. For those interested, here are five of the most in-demand features in rental property from the modern tenant. Some might be obvious, but there are others that you may not have considered.
An absolute necessity throughout lockdown for staying in contact with the outside world, a high-speed internet connection tops most tenant’s lists as imperative when moving into a new home.
Remote work requires stable download and upload speeds in order to manage workloads and prevent irritating stutters during meetings through platforms such as Zoom or Microsoft Teams, and with an-ever growing reliance on digital streaming services for music, television and film, those with subscriptions to the likes of Netflix and Spotify need reliable internet to keep themselves occupied during downtime.
Internet speeds aren’t everything, forming only part of the puzzle for the young professional tenant when looking for their next living arrangement, but the above does tend to make new build developments (or those with fiber internet supported) preferable, as connectivity will be less of an issue going forward. Modern apartments also offer hubs and free internet connectivity in their communal areas and lounges, for guests and visitors to make the most of.
Dedicated Concierge Services
Hotel-quality dedicated concierge services are becoming a normalcy in high-end apartment complexes, handling the day-to-day ongoings of the building and getting straight onto tenant issues to resolve them effectively. If you’re looking to invest in property and want something hands off that can be managed on your behalf, having a dedicated management company is an ideal solution.
Award-winning property investment company RWinvest explain in their guides that dedicated management companies are a popular choice in urban real estate, taking a small fee from the regular rental yield payments you’d receive from the buy to let framework, and managing tenant issues efficiently while investors focus on their main goals. Modern developments such as The Summit Liverpool, an upcoming luxury development in the North West city, even look to include a handy smartphone app that tenants can download, tracking information around their tenancy and reporting issues/concerns at the tap of a button.
This rising demand links in with the above point surrounding high-speed internet and overall ubiquitous connectivity, but tech-focused areas and perks around apartment complexes are an attractive draw for the modern tenant. These facilities include the likes of games rooms, cinema rooms, and even dedicated ‘work-from-home’ stations with adequate charging stations and other easy-to-use equipment. Again, pairing with dedicated apps, these inclusions allow home spaces to be personalised to tenant’s needs.
Again, spurred on by the unforeseen hurdles and restrictions put in place by the pandemic, available outdoor/green space has shot up the rankings as one of the most requested features from tenants living in rental property. Within compact urban environments, having an outdoor area or rooftop terrace that people can go to for a break away from screens and offices is a huge positive, and a way for people to communicate with each other and socialise throughout the building.
As a secondary, location is always important in a home, and so clearly highlighting parks and green spaces that are within clear distance of an apartment building is an easy win for landlords looking to highlight some of the positives within their prospect in order to attract renters.
Other On-Site Facilities
Tenants living in an urban environment often have busy schedules, needing an apartment/home that can work around their lifestyle. It’s for this reason, then, that on-site spas, swimming pools and gym areas are rising in prominence among urban property developments aimed at young professional tenants.
Despite one of the benefits of cities being the fact that tenant’s have ease-of-access to surrounding gyms and exercise points In the city, having the facilities an exclusive part of their building allows them to avoid peak times where services may be overcrowded, and again allows them to structure their day how they see fit.