How Apartment Renter Preferences Are Changing Because of the Pandemic

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The pandemic has marked some shifts in the most wanted apartment amenities.

National Real Estate Investor (July 29, 2020) -- The pandemic has shifted preferences when it comes to what renters are seeking when considering new apartments.

Before the emergency of COVID-19, a Greystar survey revealed the most wanted apartment amenities in the U.S. included swimming pools, multi-use common areas, pet-friendly features and soundproof walls. Other features that made it to the top of the survey were in-unit washers and dryers, balconies, hardwood floors and stainless steel appliances. Meanwhile, renters with a smaller budget preferred fewer amenities in exchange for lower rents.

But because of the pandemic, these amenities preferences are shifting. For renters who are not especially price-sensitive, “space is king now that so many people are working from home,” says Greg Willett, chief economist with RealPage Inc., a provider of property management software and services. He adds that some property owners report they are tweaking their model units to highlight a desk set-up or convenient work-from-home arrangement in order to attract new residents.

Read more at: National Real Estate Investor

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