Multifamily Amenity Trend Forecast
Team Gage
COVID-19 forced many companies to a remote work model and this trend seems to be sticking. Microsoft joined the ranks of Twitter and Apple announcing employees can choose to work from home permanently and now other Fortune 500 companies expected to follow suit.
A large portion of the workforce in the US are digital nomads who can live anywhere in the country and research shows a population uptick in Texas and Arizona and multifamily investors are in a great position to reap the benefits.
What other trends are popping up in 2020?
Millennials are Moving! Millennials are getting older and as a result are moving to suburbs for more space inside and out, whereas Gen-Z is looking to take their place in the city.
Gen-Z City Debut: Gen-Z is looking for more cost-effective living options such as co-living space. In a co-living space, tenants have a private bedroom and bathroom but share common living spaces and the kitchen.
State-of-the-Art Amenities. Renters expect updated fitness centers and co-working spaces with internet access. Pet wash stations offer great ease to residents working from home.
Easy-to-Disinfect Finishes. Quartz countertops are a great upgrade to multifamily units and are easy to disinfect.
Installing vinyl throughout units gives a more cohesive look and provides an anti-microbial option to carpet. Rubber flooring in gyms is a durable material that is easy to disinfect and maintain.
Property Tech & Security: Package lockers, High-Speed Internet & Cable TV, electric charging stations, bike storage rooms, and touchless intercom systems allow residents ease and safety in their community.