Some multifamily builders and remodelers might be reluctant to include numerous smart appliances in apartments because they can be pricey, which could push potential renters away. However, according to a survey conducted by property management software company Entrata, more than half of renters are willing to shell out up to $20 extra per month in return for smart features and other amenities such as in-unit laundry.
The reason? Renters want everyday tasks like laundry and cooking to be more efficient. And when we say renters, we’re not just talking about millennials. An interest in connectivity and automation runs the gamut from Gen Z all the way to Baby Boomers (who, yes, are often choosing to rent instead of buy).
Here are three smart amenities that could attract a wide demographic of renters:
In-unit laundry is one of the most difficult amenities to come by, according to an analysis by Apartment List. Over half of renters want it, but only 13 percent of properties have it. Therefore, including in-unit laundry could provide a significant competitive advantage. The Whirlpool® Smart All-in-One Washer & Dryer, for instance, takes up less room, making it perfect for smaller spaces and allowing users to start or pause the wash and dry cycle directly from the Whirlpool® app when they’re away.
Convenience and security is something that appeals to renters of all ages. Renters can rely on these smart lock systems for easy access into their apartments without searching for a key, and property managers can easily let in maintenance staff such as plumbers or contractors. The National Apartment Association reported 55 percent of residents would pay more for smart locks, while the Entrata survey reported that residents’ most requested smart amenities are tied to security and convenience.
Renters spend more time sleeping, relaxing and socializing in a typical day than homeowners. Integrated technology like the Whirlpool® Smart Single Wall Oven gives renters even more time in their day to snooze and kick back with friends. Cooking for those friends is made easier thanks to Scan-to-Cook Technology, which will ensure the right settings every time. Simply scan a frozen food barcode with a smartphone or tablet and send recommended or customized cooking instructions straight to the oven. Doesn’t get any easier than that.