What renters really want: amenities change the leasing gameWhat renters really want: amenities change the leasing gamehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=127392016-04-12T05:00:00Z2016-04-12T19:05:00Z

​​​​​TEXAS, OKLA. ​- ​​Multifamily’s pool is getting deeper. Those choosing to rent over owning is mounting across the U.S. as both young and mature are picking apartments over single-family homes. ​

A recent National Multifamily Housing Council/Kingsley Apartment Resident Preferences Survey​ identified the top ten amenities on renters’ lists.​​

​Amenities emphasizing residential interaction are becoming increasingly popular:
– bowling alleys, coffee bars (for example, the 35 West Apartments in Moore, OK), and 
– expansive recreational areas (such as the rooftop pool at District at Memorial, a 327-unit complex in Houston and the rooftop lounge at The Taylor in Dallas) are all dynamic examples.

Trendy comforts are also becoming increasingly grandiose.

At The Kenzie in Austin there are four electric car stations and The Mansions Woodland have indoor tanning facilities.

Dry Creek Ranch II, the 168-unit community in Northlake near Dallas boasts a dog park, a fishing pond and also indoor basketball court leaving those facilities built in the 1990s—and even the 2000s—appearing behind the times.

​​Owners can afford to maintain all these high-quality amenities because the properties stay well leased while commanding premium rents, some $0.50–$1.00 more per sf than the market average. Rivera in San Antonio, just a short stroll from the River Walk, is asking $1,492 per month on average.

The Taylor in Dallas is currently charging $1,940 per month or $2.30 per sf, while the Dallas Class A average rate is $1.48 per sf.

But Austin’s notoriously high rents continue to get higher. An apartment home at The Catherine in Downtown Austin is $2,327 per month, which is $2.59 per sf or $0.84 per sf higher.​​

Dallas-Fort Worth-Arlington

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