Multi-family Real Estate Trends: All About Amenities

RobbinsReedNews

New multi-family properties are on the rise here in San Luis Obispo, and it’s hard not to notice. In the past, the realtor’s adage was: “location, location, location”. But with bike paths, short commutes, and commercial developments like coffee shops and restaurants spread throughout town, homebuyers and renters alike are setting their standards higher. Our commercial contractors are here to break down the latest it-factor in multi-family properties: amenities.

In the past, tenants would be excited over a swimming pool and high speed WiFi—these factors simply don’t cut it anymore. With more millennials starting families and investing in their own space, demands are high. 

Tech Upgrades

Smart home-features that can be controlled through an app are the latest craze in modern multi-family units. Thermostats, doorbell cameras, door locks and mood lighting are all features that residents want to control through their phone. Furthermore, sonic sound systems, big-screen TVS, and built in apps like Netflix are becoming standard practice for unit media systems. 

Community Focused Spaces

Long gone are the days of cold neighbors and isolated units. Both baby boomers and millennials alike are seeking community where they live. This includes updated common areas for socializing like coffee shops, outdoor kitchens, and open work spaces. Remember when barebones apartment complex gyms where a thing? Now wellness centers are the new normal, with yoga and pilates classes offered daily. 

Convenient Features

A millenial ideal that is here to stay: convenience. Commercial contractors are appealing to this by including bike storage and repair facilities, along with smart lockers for package deliveries. Baby boomers seek concierges that can cater to their whims, from arranging taxis to facilitating in-house repairs. 

Pet-friendly provisions

According to a recent survey from apartments.com, pet owners can account for anywhere from 20% to 70% of tenants in a multi-family property. While pets used to be a no go for many building owners, modern residences are starting to capitalize on them. Dog wash and hydration stations, pet gardens, and special community events for pet owners are just a few of the many features that attract pet owners. Concierges that schedule inhouse pet grooming and dog walks are an added plus. 

When it comes time to renovating your multi-family property, know that our San Luis Obispo Builders and commercial contractors will be by your side every step, from planning and design to building and beyond. Get in touch with our Robbins|Reed Builders online or by calling 805-543-7277 today.