More and more tenants are demanding or expecting green features in the apartments that they want to live in and are willing to pay extra for these types of features. If you are looking to attract and retain tenants and stay relevant in the multifamily business, you must provide a sustainable design and green features. As the premier real estate agent for multifamily apartment buildings for sale, I would like to share some green features that will help you attract tenants.
In large cities, bikes are quickly replacing cars as the most popular choice of transit. Bikes are mobile; they don’t get stuck in congestion and parking is never a hassle. If you do not already have a bike room, you need to create one. A bike room makes sense for a number of reasons.
- A bike room will save your walls and elevators from additional wear and tear and damage because tenants will no longer have to transport their bikes to and from their apartment.
- A bike room is a selling feature and will attract tenants that may look elsewhere for this specific feature.
Make sure that your bike room is on the first floor or in the underground and provide extra safety features to prevent theft or vandalism.
Energy Saving Appliances
Energy saving appliances show your tenants that you care and do believe in the green movement. Even the often-overlooked aspects such as energy efficient light bulbs can attract a new type of tenant. Millennials are especially focused on trying to reduce their carbon footprint and will quickly notice any type of energy efficient appliance or feature in an apartment.
Here’s the Deal:
An investment in energy saving appliances will attract a higher quality renter and can also save you money in the long run by cutting down on energy consumption as well as various tax breaks and cash back incentives.
Outdoor green space fosters a feeling of community. This sense of belonging is a major selling point to many of the new generations of renters as they are choosing multifamily living over single family homes. Some great ways to make the most out of your multifamily green space include:
- Outdoor family dining area with a food prep and grilling area.
- Community garden for residents.
- Playground to retain renters who are starting families or have young families.
Green space is no longer a luxury, but rather a necessity.
By offering green space and sustainable design features, your space will quickly become more appealing to a far larger group of potential renters. These green options will help you retain tenants and can also allow you to increase rent. If you have any more questions about the importance of green features in your multifamily unit or are interested in some of the new and exciting apartments that are for sale, please contact me today. I look forward to working with you soon.