Market-Driven Amenities Add Value and Help Create a Competitive Edge
Robert Trujillo, vice president of Harvard Investments overseeing the FirstStreet division has something to say when it comes to the importance of thoughtful amenities in BTR communities. See the article here https://d23ltuj4aaogm5.cloudfront.net/wp-content/uploads/2022/10/RHJ-AZ-Oct2022-FINALweb.pdf as found in rentalhousingjournal.com.
A couple of highlights:
• Amenity evolution isn’t just driven by residents. Many cities are requiring the quality and appeal of multifamily to be long-lasting.
• Multifamily typically has a 60% turnover, but because SFR turnover is significantly lower, amenity costs can be recuperated.