The multifamily sector is seeing an amenities arms race. Residents want more and more, and the desired amenities now branch beyond obvious offerings like concierge services and rooftop terraces. Many new amenities are designed to draw in socially conscious tenants.
Building Design + Construction magazine recently named some popular new amenities. Among them were bike storage and car-sharing services – amenities that help tenants live a more socially responsible lifestyle. Likewise when it comes to new technology, tenants want amenities that help them (and the broader community) live sustainably, like advanced controls for HVAC and lighting systems.
Some tenants are socially conscious enough that they’re taking it a step further and signing so-called “green leases.” Green Building & Design magazine notes that in Boston’s Allston Green District, residents must sign a Green Declaration. In doing so, they commit to activities like minimizing energy and water usage, recycling and using public transit – the idea being that not only must the building be green, but so must its tenants. That might sound like a tall order, but finding tenants was no problem for this neighborhood: every unit was preleased before the building was completed.
Of course, not all tenants are ready for a green lease. Some just want to live in a building with green practices – particularly recycling. A recent National Multifamily Housing Council survey found that 80 percent of tenants consider recycling a “top lease decision factor,” and are willing to pay more in rent for that amenity.
This trend toward social consciousness may seem intimidating, but facility managers can rest assured that even small steps can make a difference. For example, a simple recycling program can help attract the new – and large – generation of socially conscious tenants. And those facility managers who can push broader green programs – they’ll be in good company!
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