The newsLINK Group - Hot Multifamily Outdoor Living Trends

Editorial Library Category: Multi-Family & Property Management Topics: Outdoor Living Trends Title: Hot Multifamily Outdoor Living Trends Author: newsLINK Staff Synopsis: What do all these multigenerational renters want? The most important thing is a good location located near public transportation. However, someone looking for a new place to live is likely to find several different communities that are all in acceptable locations. Editorial: Hot Multifamily Outdoor Living Trends 4064 South Highland Drive, Millcreek, Utah 84124 │ thenewslinkgroup.com │ (v) 801.676.9722 │ (tf) 855.747.4003 │ (f) 801.742.5803 Editorial Library | © The newsLINK Group LLC 1 Today’s rental market consists of many people who rent by choice as well as by necessity. Two generations in particular are shaping the market: The millennial generation is coming of age, and its members often want the ease and flexibility of being able to move from one place to another on short notice. They like being in the middle of an urban setting with walkable neighborhoods, convenient access to work and the cultural arts, and plenty of choices when it comes to healthy food. In contrast, the baby boom generation is entering retirement in larger and larger numbers, and those who are retiring often like the idea of a life that can finally be focused on relationships, memory building, and final achievements instead of taking care of a home and a yard that always need money and attention. As of 2015, there were 38 million renters throughout the U.S., and an increase of 1.6 million renters since 2010. What do all these multigenerational renters want? The most important thing is a good location located near public transportation. However, someone looking for a new place to live is likely to find several different communities that are all in acceptable locations. When that’s the case, what causes someone to decide to live in one convenient place instead of another? Outdoor amenities have become increasingly important to potential tenants. It used to be that people tried to bring the outside indoors. Now the trend has completely reversed. Manufacturers have been able to create furniture and appliances that function outside without any problem. As a result, outdoor living trends that blur the line between an indoor and an outdoor feeling have been more popular throughout the U.S. in general since 2007, so it should come as no surprise that people who live in apartments want to get in on all that outdoor action. Managers at upscale multifamily properties are creating enhanced outdoor living spaces for their residents to enjoy. These outdoor areas often have heating elements and covered spots so that the space is still usable if the weather is not quite perfect. People are interested in seeing complete outdoor kitchens and elegant furnishings that are tough enough to handle sun and rain without a problem. Club rooms often open onto outdoor areas with multi- functional spaces. Rooftop decks are also known as party decks. They are usually divided into several areas so that multiple groups of people can use them at the same time without feeling too crowded. Chairs and sofas would be just as appropriate in a living room as they are on a deck, porch, patio, or other outdoor space. A pool is often close by. Outdoor ovens are another popular option. So are sinks, weatherproof cabinets, refrigerators, and dishwashers. Fire pits, fireplaces, and LED lighting on stairs and railing make the area comfortable and safe when the temperature drops and it gets dark. Comfort zones feature hammocks or conversation areas with pillows. Weatherproof drapery can be used to define distinct spaces and add color and pattern at the same time. Outdoor entertainment systems make it possible to listen to music or to watch a movie or sports event. These are especially important to young professionals who want to spend time with friends but have small apartments. Plants and flowers bring outdoor areas to life. Pergolas, outdoor area rugs, and weather-resistant throw blankets can also become part of the mix.

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