6 Amenities Today’s Luxury Tenants Want in Multifamily
In the ultra-competitive luxury multifamily market, developers are doing everything they can to attract top-tier tenants. Many buildings are now including top-of-the-line amenities, many of which were practically unheard of just a few years ago. Whether you’re a real estate agent wanting to stay on top of the trends or a building developer or owner who wants to appeal to today’s luxury tenants, you might be surprised by some of these unique features.
Here are some of the amenities that luxury tenants want in today’s multifamily units:
1. Spa Amenities
It is without a doubt that luxury tenants would want a pool and/or a hot tub on site for their use if not in their own unit —but taking that a step further, many are looking for spa amenities on-site. These include salons located in the building itself that provide a full range of spa services including hair, nails, skincare and more.
Having these on-site allows for these luxury tenants to feel like they are being pampered in their own residence. Some places even have spa services for dogs.
2. Personal Shoppers
Many luxury tenants are incredibly busy professionals, which means they may have very little time for tasks like grocery shopping. Because of this, some buildings are now beginning to offer personal shoppers that will do their grocery shopping for them. They ensure that they never run low on groceries and that the tenant will never have to wait in a long line to check out with a full cart.
3. Community Wine Cellar
Multiple buildings across the country have started to offer climate controlled wine cellars for the entire building’s use. This is a special amenity for the wine connoisseur tenant who may have a large collection, but not enough space to store their entire collection in their unit. It is also attractive because instead of getting outside storage for a collection it is still right on-site for easy access.
4. More Than Just a Regular Gym
Luxury tenants expect a gym in their building, but not just a room with a few treadmills and different equipment. High-end buildings are now offering even more aspects of the gym, which include full basketball courts, tennis courts and in some cases, even full-size rock climbing walls. Along with these active amenities, many buildings are now providing their own personal trainer for residents to help them utilize the extensive amount of equipment.
Similar to staying in a hotel, residents want a full-time concierge. Typically, this concierge can serve as their one stop shop for everything they may need and serve as a local expert on the area helping residents to get tickets to events or exclusive dinner reservations.
6. On Site Dining
Continuing with the live, work, play theme in developments is the desire for there to be high class restaurants on-site —some of which also offer “room service”. Many buildings now have not just one restaurant but multiple restaurants for their residents to choose from. Some buildings are even going as far as offering resident exclusive cafes.
What trends in multifamily amenities are you seeing in your market? We’d love to hear from you!