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Apartment building amenities are adapting to market demand.

I came across an interesting article this morning, which addresses the desirability of and trends surrounding apartment building amenities.

The article clearly defines and even attempts to quantify, how installed amenities have changed over time and what the current trends among developers and property owners are.

Among the several amenities examined are laundry facilities. The authors explain that there has been a significant shift from communal laundry areas, to more in-unit machines.

“Another interesting shift is that more buildings have in-unit laundry machines, while fewer have community or in-building laundry. In 2014, 70 percent had laundry in the unit and only 10 percent had laundry rooms; in the early 2000s, 57 percent had in-unit laundry while 33 percent had a laundry room; the remainder had washer-dryer hook-ups only.”

Read the Full Article Here

Community laundry facilities within larger apartment buildings can provide a significant source of revenue for building owners. Tenant demand however, is clearly in favor of in-unit options and developers as well as existing building owners, are heeding the call.

Other amenties cited as gaining in popularity include elevators and doormen, while those falling out of favor include parking lots, playgrounds and on-site security.

Apartment building amenities such as pet allowances, storage rooms and health clubs have largely remained unchanged.

About the Author: With more than 19 years of experience in public accounting and 12 years in Bay Area real estate, Christopher brings expert insight to building commercial & residential real estate portfolios, through careful investment analysis and advanced tax planning strategies. Christopher is originally from the Tri-City area and is a long-time Fremont resident. He and his family continue to reside in the Fremont area and take part in various community and business events. His intimate knowledge of East Bay communities, combined with his extensive experience in public accounting & finance, allow for unique insight into the regional housing market.