Post-COVID, Outdoor Amenities Keep Winning New Renters
Every season brings new changes in the rental market. But there’s no denying that
2020 made significant and lasting impacts on renter priorities. For properties to stand
out, it’s not only about the floorplan. The best amenities you can offer might be what you see out the window.
These Days, Good Scenery Goes a Long Way
Compared to a survey on renter preferences in Q1 2020, the outlook for tenants in 2021
and beyond is looking optimistic. People aren’t moving solely based on “necessity,” and
that means multi-family homes need to provide renters with better features.
Before the pandemic, most people were focused on safety and price. But according to
the latest polls, renters are also ready to have more space (20%) and open-air
amenities (21%) in 2021 and going forward. Whether that means could be plenty of
green grass and seating areas around the apartment complex, close access to the
Boise Greenbelt, or having a private patio, renters want to know that they’ll be living in a
place that gives them something more than just “four walls” and a roof over their head.
This is probably part of the reason why Boise and the Treasure Valley as a whole have
been rising in popularity—not only in the past 12 months, but for years. People
appreciate living in walkable areas and having a variety of outdoor activities.
What This Means for Treasure Valley Developers
The fact that Idaho has a relatively low cost of living within the region has been a major
incentive for people to move from out-of-state. And the fact that Boise’s single-family
market is becoming incredibly competitive opens the doors for even more new
multifamily homes. Listening to those top-priorities for residents will help developers and builders perform better and win renters.
As fewer buyers qualify for single-family homes in the Treasure Valley, the appeal of
renting will be driven by which units having convenient access to the downtown, local parks, and other outdoor venues. If you’re ready to start analyzing your options, please
don’t hesitate to send me an email so we can schedule a time to talk!