Pub. 1 2016 Issue 5

17 ISSUE 5 2016 䌀吀䄀䄀 吀䠀䔀䌀伀一一䔀䌀吀䤀䌀唀吀䄀倀䄀刀吀䴀䔀一吀䄀匀匀伀䌀䤀䄀吀䤀伀一  • Club rooms often open onto outdoor areas with multi- functional spaces. • Rooftop decks are also known as party decks. ey are usually divided into several areas so that multiple groups of people can use them at the same time without feeling too crowded. • Chairs and sofas would be just as appropriate in a living room as they are on a deck, porch, patio, or other outdoor space. • A pool is often close by. • Outdoor ovens are another popular option. So are sinks, weatherproof cabinets, refrigerators, and dishwashers. • Fire pits, replaces, and LED lighting on stairs and railing make the area comfortable and safe when the temperature drops and it gets dark. • Comfort zones feature hammocks or conversation areas with pillows. • Weatherproof drapery can be used to de ne distinct spaces and add color and pattern at the same time. • Outdoor entertainment systems make it possible to listen to music or to watch a movie or sports event. ese are especially important to young professionals who want to spend time with friends but have small apartments. • Plants and owers bring outdoor areas to life. • Pergolas, outdoor area rugs, and weather-resistant throw blankets can also become part of the mix. Not only do existing residents appreciate the idea of spending time outdoors in an attractive setting, so do prospective tenants. Some people consider pizza ovens to be the most popular option of all. Most people enjoy eating it, and the process of putting one or more pizzas together is an entertaining way to spend an afternoon or evening. It makes sense. One e ect of the Great Recession was to reduce the size of individual units. A good way to prevent a tenant from feeling cramped when there just isn’t a lot of space available inside is to make sure that there is plenty of shared community space available outside. Manufacturers have responded to the demand for outdoor furniture and appliances by creating more durable and stylish options. For example, Sunbrella Fabrics, a company that has been in business since 1961, began creating more durable fabrics in 2002 and is now o ering its customers a ve-year warranty to cover problems with outdoor fabric fading prematurely. at is good use for those who are responsible for managing these multifamily communities, because it means items such as cushions don’t have to be replaced every other year any more. O ering tenants a place to do their cooking outside in a shared area is a good idea in part because many communities have banned cooking on private apartment patios and decks. Apartment communities that are going after a niche market might also want to consider amenities such as garden plots, workshops, communal bike storage, dog runs, and stations for washing pets. However, it is important to make sure that apartment managers are targeting the right amenities for the tenants they want to attract. It used to be that pet-friendly apartments were the exception instead of the rule. That has changed. Now, many people are looking for communities that welcome animals and even have pet spas to accommodate them. What else are people interested in? e National Multifamily Housing Council (NMHC) and Kingsley Associates, whose professional focus is on strategic consulting, research, and data analysis, conducts an annual survey about the preferences of apartment residents. For the survey that was conducted in August 2015, the survey was sent to more than 500,000 residents. ere were almost 120,000 responses. Survey respondents were residents at 22 di erent industry-leading rms that either own or operate 1.2 million rental units throughout the U.S. People from 3,280 di erent communities responded. e survey found that the top ve amenities for the community as a whole were: • Parking (94 percent) • Pool (83 percent) • Fitness Center (82 percent) • Secured community access (80 percent) • Recycling (80 percent) e top ve amenities for the actual apartments were: • High-speed Internet (94 percent) • Walk-in closet (89 percent) • Soundproof walls (88 percent) • Patio or balcony (87 percent) • Washer and dryer in the unit (87 percent) What do these amenities indicate? High-end apartment communities are becoming more and more like high-end resorts. Tenants want, and appreciate, everything from co ee bars to concierge services. Not only do existing residents appreciate the idea of spending time outdoors in an attractive setting, so do prospective tenants.