Today’s luxury apartment amenities turn complexes from simple living spaces into cities in their own rights. With the right upgrades, landlords can increase revenue, please tenants, and ensure resident retention remains high. In some cases, creating these luxury amenities means upgrading existing features. In others, the landlord may have to build an entirely new space. However, if completed thoroughly and effectively, even the most substantial investments could pay dividends for years to come.
Before considering luxury apartment amenities, landlords should do a quick review of their demographics. If they’re in a space where most of their tenants are single professionals, then they may want to focus more on business centers, pool areas, and options for parties and events. If it’s more of a family-focused community, bowling alleys and playgrounds may be better investments. Choosing the best community upgrades is all about letting the tenants’ preferences guide the decision. That keeps tenant retention high while also allowing landlords to increase the value of their property.
Luxury Apartment Amenities for an All-Inclusive Community
Most landlords in California already have a few basic options in their complexes like swimming pools, parks, and outdoor seating areas. As such, any upgrades they consider are going to fall into one of two categories: things they can update right away or things that they’ll need to create from scratch. Here are a few options to consider in each group.
Upgrading existing options
Adding new features
Ideally, landlords should aim to create an all-inclusive community. Tenants should be able to do as much as possible—including their shopping, socializing, and laundry—without having to go anywhere off-site. It’s built-in convenience that increases retention and property value.
Making the Right Upgrade Choices for Long-Term Success
Often, it makes more sense to upgrade existing amenities before getting started on any major updates. This measured approach helps the landlord gauge which features are most popular so they can build add-ons that will gain the most interest. For example, if the pool is getting a lot of use from families, it might be wiser to add a bowling alley or movie theater for those individuals to also enjoy. However, if the upgrades seem to attract more young professionals, a business center or clubhouse might be a better choice. In either case, research is crucial when vetting high-end amenities.
It helps to get the advice of an expert when adding luxury apartment amenities. These are no small undertaking, so working with an experienced contractor will help landlords make the right decisions to enhance the value and quality of life in their apartment community.