In today's competitive rental market, technology significantly impacts what apartments renters choose to live and work in. As a multifamily developer or investor, you must keep up with the changing trends to make your apartment stand out from the competition. This blog will discuss technological amenities that will give you an advantage over the competition.
Smart Home Technology
Smart home technology is one of the most prominent digital amenities that is becoming a necessity for renters. These features allow renters to control their apartment's thermostats, lighting, and appliances with their voice or smartphones. These technologies appeal to renters and help control expenses for unnecessary electricity and energy usage.
With an increased percentage of the workforce working from home or hybrid roles, fast and reliable Wi-Fi is necessary. Many renters prioritize a strong internet connection over other amenities. A high-speed wireless network that can be used in common areas and in the apartment is a significant selling point for potential renters. Having common areas with office-like features and outlets is a great amenity.
Community Apps for Greater Connection
Another option for creating a tech-savvy community is by developing a community app. A community app lets management instantly inform residents of current news and updates. They also reduce phone calls and miscommunication between management and renters, and renters have correspondence in electronic form for better record retention. A community app allows renters to submit service requests to management efficiently.
A community app ensures that all residents receive important notices. Renters can make rental payments securely and online using the application.
State of the Art Fitness Amenities
With fitness being a top priority for renters, adding fitness technology and equipment can significantly draw new tenants. A state-of-the-art fitness center with a great mix of treadmills, elliptical machines, free weights, and machines can be a deciding factor for potential renters. The convenience of having access without having to drive to a fitness center or gym saves time and the monthly cost of a gym membership.
Elevate Your Multi-Family Apartment Project
Technology has opened a wide range of new possibilities for multifamily apartment projects. You can elevate your apartment project by implementing these top digital amenities. Adding smart home technology, high-speed Wi-Fi, community apps, and fitness technology are just a few examples of how you can differentiate your project from others in the market.
With the increasing expectations of tech-savvy renters, now is the perfect time to add these amenities to your project. To learn more about new developments in real estate, lending options for multifamily apartments, and the latest trends, read more on our blog. To get started with multifamily apartment investing today, schedule a free phone consultation today.