2018 is just around the corner and as leaders in the multifamily community, one of our resolutions is to continue to keep our fingers on the pulse of what is to come. Therefore, we’ve whipped up this handy list of trends that will define our favorite industry in 2018.
A Focus on Shared Amenities
In many cities, apartments are shrinking and shared living spaces are growing. Renters are looking for not only a place to rest their head but also experiences to be had. Decrease isolation amongst your residents and introduce innovative features they can share with their neighbors. From yoga centers to grill areas to shared office spaces, invite them to step outside of their apartment and into a community they’ll love.
Be More Than Pet-Friendly
It’s no secret that many residents require pet-friendly accommodations. In the new year, the need will only grow. According to the American Pet Products Association, dog ownership has gone up 29% in the past decade, while 59 million Americans own cats. More and more communities are opening their doors to furry little friends, which means a competitive edge may be necessary for the coming year. At The Ashton in Dallas, we noticed the milder temperatures often invite roommates with a bark. Therefore, we not only made the community pet-friendly but also added a pet park with a water fountain, so Fido can enjoy the perks of being a Lincoln resident too.
Add a Piece of Furniture (or Two)
Now more than ever, renters are tapping into their inner nomads. Millennials especially will often spend one year in New York, the next in Nashville, and finally end up on the West Coast (for a year or two, perhaps). An increase in remote jobs, experience-seekers, and the infectious travel bug proves this trend is in no way waning. Therefore, give the people what they want and provide built-in furniture in your space. Desks, built-in shelving, and spacious kitchen islands mean one less trip to IKEA, which for many could be a defining factor in their hunt for the perfect (temporary) home.
Location, Location, Location
As mentioned above, renters now more than ever are seeking experiences in their hunt for the perfect apartment. Therefore, location is key! Placing a community in a thriving metropolis or amongst beautiful parks and hiking trails will be advantageous in the coming years. While residents would love their entertainment within walking distance, many would also appreciate the convenience. Located in Armstrong at Knox in Dallas, TX, residents can find shops and eateries such as Trader Joe’s, Black Optical, Little Katana, Paper Source, and Sur La Table. Cookie butter and vintage frames are just an elevator ride away, now that’s convenience.
At Lincoln Property Company, we are constantly looking ahead, while remaining grounded in our mission to offer the best in apartment living. To learn more about what is to come in multifamily, contact us today!