New Research Reveals What Renters Want in 2022: 3 Trends to Watch

When it comes to attracting the modern, high-profile tenant for multi-family real estate units, you just can’t ignore apartment amenities. They’ll likely be a critical factor that renters in 2022 will consider when signing and renewing a lease agreement. If you’re not sure what potential clients may need in 2022, study the following trends:

1. Millennials Don’t Want to Buy Homes Anymore

If you’re a residential property manager or owner, it’s important to know that homeownership rates for millennials are considerably lower than those for baby boomers or Generation Xers at the same age. Since the proportion of income millennials spend on rent is greater than that for any other generation, they want to derive the maximum value from their apartments. Capitalize on this trend by proactively investing in highly desired and popular apartment amenities.

2. Amenity Categories Are Constantly Increasing

The ongoing advancements in technology keep on shaping lifestyles, which is another reason why the amenity needs on the renters’ part are increasing year by year. Up till now, the amenity categories have surged to four, including safety/security, wellness, convenience, and luxury. Technology impacts all four of these categories. Research by Gartner predicts that the use of smart devices will become a standard in homes in 2022. Anything that makes life easier through technology will become a norm in the upcoming years.

3. Rise of Co-Working Spaces

If you’re a manager of an apartment community that includes large lobbies, common areas or club room spaces, it might be a good idea to transform them into co-working spaces. With the number of freelancers and remote workers higher than ever, there’s tremendous potential in this area. The demand for such workspaces will keep on increasing and to cater to it, you’ll need to do the needful before other players outplay you.

Apartments Available In NYC and South FL

Based on the top three trends discussed above, it’s high time to take steps to address the changing needs of renters. Whether you’re looking to invest in future-oriented homes, need high-quality real estate management services for your existing properties, or simply need apartments for rent, connect with Milbrook Properties today.