The pandemic has shifted our perspectives on many things, one of those being apartment preferences. Renters used to look for apartments close to the city with luxurious amenities, but have shifted to suburbs and the basics. Keep reading to see how the preferences in type, location and amenities have changed over the past couple of months.
One of the major changes in apartment preferences is with unit size. Renters now want larger units with more space to accommodate working from home. Remote working is something that will definitely stay around long after effects from the pandemic are gone, so many are looking for more room to make this work. Additionally, larger units give the option for living with roommates, which means cheaper rent. This is enticing especially since many had their jobs disrupted because of the pandemic. Lastly, the pandemic has also changed apartment features that people value. For example, renters now value a nice, spacious eating area and balconies since they are spending more time at home.
Before Corona, many renters found multiple apartment amenities attractive and enticing, but things have changed. Amenities increase rent premiums, and many are public, or communal, which is a nightmare for maintaining social distancing and avoiding germs. Some amenities that people are looking to get rid of are any communal areas such as gyms, grills and pet parks. These areas are used by multiple people, drawing larger crowds and usually not being sanitized properly. Some amenities that renters still prefer are fireplaces, internet access, in-unit washers and dryers and package lockers or safe rooms to store incoming packages and e-commerce.
As we have seen previously, there has been an increase in suburban migration for families and millennials. People prefer to get away from crowded cities and get a little more space to themselves. As a result, people are also leaving high rise apartment buildings for smaller apartment buildings out in the suburbs. The distaste in high rises is due to the higher volume of people in one area and the inability to properly maintain social distancing at all times. Additionally, many need elevators to get around when in high rises. This either means multiple people in an enclosed area, or having to wait a long time to catch the elevator.
The pandemic has caused a lot of changes in what people looked for in apartments. Some of these preferences are expected to stay long-term, while others are expected to shift back to how they were pre-pandemic. Preferences in apartment unit size and location are expected to stay, while amenities and building style preferences will likely change. What we do know is that people are still looking to rent, which is always a good sign!