How Apartments Should Adapt for Tenants Working Remotely
Builders, developers, and multifamily investors need to have a clear grasp on what their tenants actually want. So with the rise of remote working, what sort of home do people actually want to rent? The business center feature for apartment complexes has shifted over the years.
Changing Expectations for the Office Essentials
It’s funny to think that 5 or 7 years ago printing services were basically a non-issue. Everyone was moving paperless then, but times change. According to recent polls, communal printing is definitely in demand.
Nearly 50% of renters say they would likely use a community printer every day, if available. Contrast that with only 5% of renters who say they require a home office. That means we don’t necessarily need to rethink the square footage of new units—or how expansive the common areas need to be with new apartment complexes.
People actually care more about the little details. And hooking up a printer is about the easiest upgrade you could ever do. The printing amenities may not even need a formal co-working space either, because just 12% reported that they’d take advantage of those areas daily. Being armed with this knowledge is sure to get a nice ROI years down the line.
The Takeaway: Go with a Smaller Business Center
Renters are definitely interested in having the convenience of a few office essentials in their apartment common areas. However, you may not really need to invest that much to make it more appealing. In a sense, business centers are “back.” But instead of offering a large apartment clubhouses or super decked-out co-working space, giving renters what they want might be as easy as setting up a simple print station.
After all, even on-site gyms are on the way out. People quickly learned during COVID that all they really needed was to turn on YouTube to convert their living room into a workout room. Before developers and investors jump on bigger builds for their community amenities, it’s worth considering a smaller solution that could still deliver a big impact. If you want to discuss other options, feel free to send us an email! We’d be happy to schedule a time to talk.