Several decades ago, many young professionals purchased homes as soon as they were able, preferring home ownership to renting. Now, the times are changing, and more young adults are choosing to rent rather than take on the responsibility of a mortgage. If you own or manage an apartment community and are looking to attract these often responsible, young adult renters, consider adding a few of these amenities:
For busy young adults, leaving the house 30 minutes early to drop a child off at daycare before the workday just adds to the exhaustion of balancing work and family life. By adding on-site daycare to your community, you are saving your residents who do have children a lot of time.
Picnic and Grilling Areas
Busy young adults don't want to have to pack up their cars and drive to a park in order to grill and relax after a long day of work. Add a picnic and grilling area to your community, and you give them a place to enjoy these activities without even having to drive. This area can also serve as a social setting where residents meet and get to know one another.
If your residents are still driving to the laundromat to get their laundry done, you can expect a lot of vacancies. Young adults simply don't have time to load their laundry in the car, and then sit around the laundromat for 2 or 3 hours. Either build your own laundry building in the community so residents feel safe leaving their laundry alone for short periods of time, or add washer and dryer hookups to your apartments so residents can bring their own appliances if they please.
An On-Site Coffee Service
If you take a moment to look through drivers' windows as they're commuting to work, you'll notice that many of them are sipping a hot beverage as they drive. Consider opening a small coffee shop in your apartment community, so your residents can grab coffee on their way out for the day. This saves them from having to wait in a busy drive-thru line.
Many residential property management companies have caught on to what young adults value in rental properties, and do a great job of upgrading existing apartment complexes to meet these renters' standards. If you have a lot of vacancies, but lack the time to add amenities like the ones above, hiring an apartment management company such as Wilson Management Group to oversee your properties may be a good choice.