By Brook Furniture Rental – http://www.bfr.com/
In a sea of apartment amenities, such as gyms, pools, dog spas, and roof-top gardens, offering your tenants the option to use an apartment guest suite can set you apart from the competition. As apartments become smaller, a dedicated service that caters to residents who have overnight guests, such as friends and family, can be a compelling feature.
A study by Rent Cafe shows that the average size of a rental apartment in the U.S. has fallen to 934 square feet, the smallest on record since 2006, while studio apartments have steadily been decreasing from 614-square-feet to an average of 504-square-feet. And more than half of the unfurnished apartments in communities with five or more units completed in 2014 were either studios or one-bedroom apartments – the largest share in history.
Where a studio apartment was once considered the smallest and most reasonable apartment available for budget minded renters, micro units ranging between 250-400 square-feet are now emerging in major cities across the US.
Smaller units are extremely attractive to the college students or the younger demographic that’s just entering the workforce by offering the opportunity to live in an urban environment.
But, Smaller Apartments Means More Amenities
As the trend towards smaller units continues, amenities will become even more important. Multifamily developments are in a race to provide competitive features that will attract and sustain occupancy. And it seems renters who plan to spend much of their time at work or elsewhere are willing to accept an affordable, smaller floor plan in exchange for an array of lifestyle amenities.
Apartment guest suites are one of the amenities that are emerging as a “must-have.” Basically a hotel suite to support residents with smaller units, guest suites offer visitors a furnished unit and access to the amenities. Though prices vary, a guest suite can rent for $100.00 a night and upwards, and can add thousands in revenue to a community’s bottom line. Though residents are responsible for any damage that the guest may incur, the maintenance is still the responsibility of the management.
A great way to see if a guest suite is right for your community is with a resident survey. The results might be surprising and this can go along way in keeping your residents happy.
Brook Furniture Rental is an expert in providing high quality and stylish furniture for guest suites and micro units. Visit our website or contact us at: 877.285.7368