Taking an older property and turning it into a desirable, booming complex takes a financial commitment and foresight into human interests. Apartment development isn’t just about providing a room to live. It’s about creating a lifestyle experience that suits what the current generation loves. Investors like Steven Taylor Los Angeles learned long ago that it’s essential to think about current trends in the market and to apply those concepts to older establishments. Those changes may entice more renters and improve property value. The following are three trends to look for in current apartment revamps.
- Heightened Sanitation
In the past few years, people have learned a great deal about maintaining health and germ spread. Large apartment complexes are concerning because so many people pass through, exposing each other to different organisms. Opening doors, pressing buttons and interacting in large crowds are more daunting, seen as a way for spreading illness. Builders are taking health concern this into consideration.
When transforming a former space, upgrades are essential. Look for automatic doors and keyless locks. Elevators will still be in place, but the stairs will be promoted, designed to be more enticing than in former years. The alcove may no longer be seen as a bland hallway, but a vibrant path to home. Air filter purification enhancements pull contaminants from the air, and equipment can be sprayed to reduce microbial growth.
- On-Site Entertainment Programs
Humans are still social bugs; this generation of renters, however, likes to stay close to home, and they are eager to have programs readily available on the premises. Add a community organizer position. This employee runs activities for the renters. During holidays, kids may see visits from Santa; during the workweek, singles may enjoy mixers; and over the weekend, cooking and exercise classes may be offered. These perks make the property more enticing, and people are eager to satisfy their needs all in one place.
- Work-From-Home Upgrades
Tapping into the audience is something Steven Taylor LA has been good at for years, and the most significant movement is combing work and home. Tenants are looking for housing that can accommodate those needs. Is the apartment or common space equipped to handle wifi and technology? Some buildings may start creating communal areas with coffee bars, work equipment, and comfortable seating. Desks or lounge chairs permit an escape from the room and a chance to see other people also knocking off their to-do-list.
Before tackling a real estate project, think hard about how society is changing. Find ways to connect your business to those ideas. Doing so could make the place more enticing to prospective renters.