Sizzle or Fizzle? Summer Amenities That Make (or Break) Your Leasing Season

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As the summer sun heats up, so does the competition in the multifamily housing market. Prospective renters are not just looking for a place to live, they're seeking a lifestyle. And the amenities your property offers can be the deciding factor between a signed lease and a missed opportunity. Understanding which amenities sizzle and which fizzle is crucial to maximizing occupancy during the peak leasing season.

The Sizzle: Amenities That Attract and Retain Residents

1. Outdoor Workspaces and Flexible Design: The shift towards remote work has transformed residents' expectations. Outdoor work zones have become a sought-after feature, allowing residents to work amidst nature without leaving their community. Flexible designs, such as folding partitions that create seamless indoor/outdoor connections, are gaining popularity even in traditionally colder regions. These spaces not only cater to remote workers but also enhance the overall appeal of the property.

2. Year-Round Outdoor Amenities: Properties are extending the usability of outdoor spaces beyond the summer months. Heated pools, fire pits, and electric heaters are being incorporated to ensure residents can enjoy outdoor areas even in colder climates. Such features not only provide comfort but also differentiate properties in competitive markets.

3. Unique and Multifunctional Spaces: Innovative amenities like music practice rooms, rooftop running tracks, and golf simulators are redefining luxury living. These unique offerings cater to diverse interests, fostering a sense of community and enhancing resident satisfaction. Moreover, integrating technology through virtual reality lounges and multi-sport simulators appeals to tech-savvy residents and sets properties apart.

The Fizzle: Outdated Amenities That May Deter Prospective Renters

1. Underutilized Business Centers: While business centers were once a staple, the rise of in-unit workspaces and co-working areas has rendered traditional business centers less appealing. Residents now prefer multifunctional spaces that offer flexibility and comfort over formal business centers.

2. Generic Common Areas: Common areas lacking character or purpose can fail to engage residents. Spaces that do not foster interaction or offer unique experiences may be overlooked. In contrast, thoughtfully designed areas that encourage socialization and community building are more likely to be utilized and appreciated.

3. Amenities Without Resident Input: Implementing amenities without considering resident preferences can lead to underused spaces and wasted investments. Regularly surveying residents and involving them in the decision-making process ensures that amenities align with their needs and desires, enhancing satisfaction and retention.

Strategies to Enhance Your Leasing Season

• Engage with Residents: Conduct surveys and feedback sessions to understand what amenities residents value most. 

• Invest in Versatile Spaces: Design areas that can serve multiple purposes, adapting to various resident activities and preferences. 

• Embrace Technology: Incorporate smart home features and tech-driven amenities to appeal to modern renters. 

• Promote Community Building: Host events and create spaces that encourage interaction, fostering a strong sense of community. 

Add Some Sizzle to Your Leasing Season

By focusing on amenities that resonate with current trends and evolving resident needs, such as coworking spaces, pet-friendly features, wellness centers, and smart home technology, property managers can create communities that stand out in a competitive market. These thoughtful additions not only appeal to prospective renters during the busy summer leasing season but also contribute to long-term satisfaction for current residents. The result is stronger retention, positive word-of-mouth, and a community that thrives well beyond the summer rush, ultimately turning seasonal opportunities into year-round success.

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Need support bringing your amenity vision to life? BGSF provides experienced professionals who can help manage seasonal demand, execute property upgrades, and deliver exceptional resident experiences. Let’s make your summer leasing season a sizzling success—connect with BGSF today.