RESIDENT RETENTION
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Siding is in Great Shape
If the siding is old , cracked , and falling apart , your building is at risk . In addition , some siding styles are simply outdated and make your property look undesirable .
New , updated siding will offer a terrific first impression . When someone likes how a building looks , they are more likely to want to live there . Attract new residents , keep your current tenants , and protect your property by replacing your siding .
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Beautiful & Functional Outdoor Spaces
Residents appreciate access to a beautiful outdoor space , and a tired piece of land full of dirt and tumbleweeds won ’ t impress anyone .
Wow your potential renters with an outdoor oasis on your property , full of plant life and functional space . Consider adding ample plant life among pathways , pergolas , a deck , or BBQ areas . An attractive outdoor haven is even more important if dogs are allowed in your building .
Providing access to a beautiful outdoor space will allow renters to have access to nature without needing to leave your property . With more people working from home , it ’ s nice to have a place to rejuvenate right outside the front door .
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Updated Interiors with Amenities
It wouldn ’ t make sense to work hard to create an attractive exterior and then show an outdated interior . This will turn many potential renters away .
Once you have wowed your current or future renters with a beautiful exterior , drive the deal home with updated interiors . People appreciate a beautiful home with newer appliances that will last .
Another aspect that is appealing to residents is ample amenities . Here are a few additional amenities to consider that will make your community more attractive :
• In-unit washer and dryer
• Pet-friendly units
• Easy Parking
• Internet Access
• Security Measures
• Swimming Pool
• Fitness Center
In addition , think about the entire renter experience . Most renters find multifamily buildings more desirable when they offer communal workspaces and amenities . Consider what your residents are looking for and offer them an opportunity to escape from the distractions of home and find a quiet space on your property .
With many residents working from home these days , communal workspaces appeal to people . Sometimes it ’ s nice to get away from the distractions of your home and work in a quiet space .
Keeping an Attractive Building Will Translate to Renter Renewal
It goes without saying , but keeping your units full is your primary goal , and the best way to do that is to make your residence attractive to renters who will take care of the property . You can do this by making a good impression with an immaculate exterior .
Replace the roof or siding , opt for a paint job , and upgrade doors and windows . Make your outdoor spaces beautiful and accessible , and drive everything home with updated interiors . When you show renters that you care about your building , it builds trust that you will care for them . www . aamdhq . org JULY 2022 TRENDS | 27