Amenities have become increasingly important in the multifamily industry, as property owners and managers seek to differentiate their properties, attract tenants, and retain them. Here are some amenity trends that are currently popular in the multifamily industry:

  1. Fitness Centers: Fitness centers have become a popular amenity in multifamily properties, as tenants seek convenient and accessible spaces to exercise. Fitness centers typically include cardio and weight-training equipment, yoga studios, and sometimes even personal trainers.
  2. Clubhouse/Community Room: These spaces provide residents with a venue for hosting events, parties, and meetings. They foster a sense of community and facilitate interactions among neighbors.
  3. Property-wide Wi-Fi: Property-wide Wi-Fi has become an increasingly popular amenity in the multifamily industry, as tenants increasingly rely on the internet for work, entertainment, and communication.  Property-wide Wi-Fi can be a major selling point for tenants, especially younger tenants who prioritize seamless connectivity and convenience not just in their units but even in the common areas. Providing fast and reliable Wi-Fi as a part of the Amenity set can help attract and retain tenants and improve tenant satisfaction. It can also help generate revenue for owners and positively impact property value. 
  4. Package Delivery Services: With the rise of e-commerce, package delivery services have become an increasingly important amenity for multifamily properties. Many properties now offer package delivery lockers, which allow tenants to securely receive packages at any time of day.
  5. Pet Amenities: Pet amenities have become a popular amenity for multifamily properties, as many tenants own pets. Pet amenities may include dog parks, pet-sitting services, indoor play areas, and pet washing stations. 
  6. Smart Home Technology: Smart home technology has gained traction in recent years as tenants seek greater convenience and control over their living spaces. Smart home amenities may include smart thermostats, lighting systems, and security systems that can be controlled via a phone.
  7. Co-Working Spaces: With the prevalence of remote work, Co-working spaces have become a very desirable amenity at multifamily properties. Co-working spaces may include private offices, conference rooms, and communal workspaces.
  8. Wellness Facilities: Yoga studios, meditation rooms, saunas, and spas cater to residents seeking relaxation, stress relief, and holistic well-being.
  9. Playgrounds: Having a playground makes the property attractive to residents with kids. It allows for a safe and accessible space for their kids to play and interact with other children.
  10. Barbecue Areas: Outdoor cooking and dining spaces is a popular amenity that provides opportunity for residents to host gatherings, fostering a sense of community and encouraging socialization.
  11. Electric Vehicle Charging Stations: With the rise of electric vehicles, electric vehicle charging stations have become a popular amenity for multifamily properties. Charging stations allow tenants to conveniently charge their electric vehicles on-site.
  12. Storage Units: Extra storage space is valuable for residents with items they don’t need on a daily basis, helping them keep their living spaces organized.
  13. Concierge Services: Certain higher end Apartments offer concierge services that can save residents time and effort by assisting with tasks like package handling, reservations, and other errands.

Overall, these amenity trends reflect the evolving needs and preferences of tenants in the multifamily industry.

We at Catalyst are attuned to these trends and invest in relevant amenities to gain a competitive edge. A significant portion of our Capex budget is allocated for Amenity improvements. This has allowed us to attract quality tenants and improve retention at our properties. 

We would love to hear about your experiences and/or hear about any amenities that you think are worth looking into!