As we navigate through 2024, the landscape of apartment living continues to evolve at an unprecedented pace. The demand for modern, tech-integrated living spaces is skyrocketing, pushing apartment buildings to incorporate a wide array of amenities that not only enhance the quality of life for residents but also set properties apart in a competitive market. From time-honored conveniences to cutting-edge smart technologies, these amenities play a pivotal role in attracting and retaining residents. In this comprehensive guide, we'll explore the best amenities for apartment buildings, with a particular focus on smart amenities that are transforming living spaces into high-tech havens of comfort and efficiency.
The integration of smart technology in apartment buildings is not just a trend; it's a fundamental shift in how we conceptualize modern living spaces. According to a recent study by Schlage and Wakefield Research, 86% of millennials are willing to pay more for a rental property with smart home amenities. This statistic underscores the growing importance of smart features in the rental market.
Furthermore, a report by NMHC and Kingsley Associates reveals that properties with smart home features see an average rent premium of 5%, demonstrating a clear return on investment for property owners who invest in these technologies. Source: NMHC/Kingsley Apartment Resident Preferences Report
The surge in smart building adoption is staggering. Forecasts indicate that the number of smart buildings worldwide is set to grow from 45 million in 2022 to a whopping 115 million in 2026 – a remarkable 150% increase. This exponential growth highlights the increasing importance of smart amenities in modern apartment living.
Before diving into smart amenities, it's important to recognize the foundational amenities that residents consistently seek:
The convenience of having a washer and dryer within the apartment remains one of the most sought-after amenities. It saves time, offers privacy, and eliminates the need for shared laundry facilities or trips to laundromats.
In urban areas where parking can be a nightmare, ample on-site parking is a major draw. Designated spaces, covered parking, and secure garages significantly enhance an apartment's appeal. Offering free parking options can be a game-changer in competitive markets.
A swimming pool continues to be a classic amenity that adds substantial value to an apartment complex. It serves as a focal point for relaxation, exercise, and social interaction, making it a key attraction for potential tenants.
An on-site fitness center is increasingly seen as a must-have rather than a luxury. It provides residents with convenient access to exercise equipment and facilities, promoting a healthy lifestyle without the need for external gym memberships.
Communal spaces such as lounges, rooftop terraces, and clubhouses are essential for fostering a sense of community. These areas provide residents with places to gather, socialize, and unwind, enhancing the overall living experience.
With pet ownership on the rise, amenities catering to furry friends are more important than ever. Dog parks, pet washing stations, and even pet-sitting services can make a property significantly more attractive to a large segment of renters.
While traditional amenities form the backbone of apartment living, smart amenities are rapidly becoming the differentiators that can set a property apart. Let's explore the smart features that are revolutionizing apartment living:
Leading the charge in smart access control solutions is Gatewise, offering state-of-the-art, automatic cloud-based gate entry systems for apartment communities. These systems dramatically enhance security and convenience by allowing residents to control access from their smartphones.
Smart locks represent the next evolution in apartment security. These devices allow residents to lock and unlock their doors using smartphones or key fobs, eliminating the need for traditional keys. Many smart lock systems can be integrated with other smart home devices for a seamless, connected experience.
Benefits:
Dedicated apartment apps are becoming increasingly popular, offering residents a centralized platform to manage various aspects of their living experience. These apps can include features such as:
Smart thermostats allow residents to control their apartment's temperature remotely and often learn residents' preferences to adjust settings automatically. This not only enhances comfort but also optimizes energy usage.
In our increasingly connected world, reliable and fast internet is no longer a luxury – it's a necessity. Fiber-backed property-wide WiFi ensures that residents have access to high-speed internet throughout the property, supporting work-from-home needs, seamless streaming, and the growing number of connected devices in modern homes.
Smart self-guided apartment tours are an innovative amenity that allows prospective tenants to explore available units independently using their smartphones. This feature enhances the leasing experience by offering flexibility and convenience without needing a leasing agent to be present.
Gatewise provides cutting-edge technology for self-guided tours, utilizing advanced access control for a seamless experience. Prospective tenants can securely access units and receive detailed property information through their smartphones during their designated tour time.
With the rise of e-commerce, package management has become a significant challenge for apartment communities. Smart package lockers and management systems offer a secure and convenient solution.
As electric vehicles become more prevalent, charging stations are transitioning from a luxury to a necessity for many renters.
The integration of smart amenities isn't just about keeping up with trends; it's a strategic investment that can significantly impact both property value and resident satisfaction. According to a study by Entrata, properties that implement smart home technology see an average 5% increase in rental value and an 8% increase in overall resident satisfaction. This translates to both immediate financial benefits and long-term resident retention. Source: Entrata Smart Home Study
As we've explored in this comprehensive guide, the multifamily housing industry is undergoing a significant transformation driven by the integration of smart technologies. While traditional amenities like in-unit laundry, parking, pools, and gyms continue to form the foundation of desirable apartment living, it's the smart amenities that are truly setting properties apart in 2024.
Smart access control systems, like those offered by Gatewise, are at the forefront of this revolution. By providing unparalleled convenience, security, and integration capabilities, Gatewise is helping property managers not only meet but exceed the expectations of modern renters.
The adoption of smart amenities like intelligent thermostats, property-wide WiFi, smart locks, and innovative leasing technologies like self-guided tours is no longer just about staying current – it's about future-proofing properties and creating living spaces that residents are excited to call home.
For property owners and managers, the message is clear: investing in smart amenities is not just about keeping up with trends; it's about creating value, enhancing resident satisfaction, and positioning your property for long-term success in an increasingly competitive market.
For more information on how Gatewise can transform your community’s amenities and take your apartment community into the future of smart living, visit our website or contact one of our experts today. Leverage the smart revolution and set your community apart in the competitive world of multifamily housing.
Gatewise offers a simple and modern gate entry system that provides residents with a mobile app and managers with a cloud-based management portal.
