At the start of the COVID-19 pandemic in early 2020, priorities for renters began to change. Now, over a year and a half into the pandemic, people’s priorities have shifted again. Below you’ll find some of the ways a renter’s priorities have changed and how you can use this to your advantage when attracting prospective residents.
According to a survey conducted by RENTCafé earlier this year, the pandemic has had a significant effect on the apartment features that residents consider to be most important. While the top feature renters considered in the 2020 survey was the price, this year’s survey showed that residents now value open-air amenities such as a balcony or patio significantly more than they used to. This makes perfect sense considering these outdoor spaces allow tenants to enjoy the fresh air without interacting with anyone outside their family if they don’t want to. Likewise, a close second in the survey was more space inside the apartment, which became more important than ever as folks transitioned to working from home. Suppose the units in your apartment building boast outdoor spaces and/or ample square footage (or at least larger than some of your competitors). In that case, these are characteristics that you can play up in your marketing to prospective residents.
The survey also found that while most people who moved in 2020 did so because their lease was up, others moved because they found a better deal or needed a change of scenery. And nearly half of the renters surveyed were looking to move to a different neighborhood in the city they already lived in. What this means is, while you may attract prospective residents who are new to the state or city, many of the folks looking at your building are likely already familiar with the area and are just looking for a change or more for their dollar. That said, if you offer reasonable rents coupled with amenities such as outdoor spaces, free group fitness classes (like those provided by Power For Life Fitness), concierge service, and more, then your property will be exactly what the current prospective renter is looking for.
Contact us today to learn more about how Power For Life Fitness can help you meet renters’ new priorities.