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Amenities & Renovations to Increase Property Value

Renters value apartment living for its value, convenience and enjoyment, and the demand for multifamily dwellings is soaring. Even small investments create significant returns and opportunities to increase property appeal.

Did You Know?

The Urban Institute says that renters in the U.S. will surpass homeowners by the year 2030, which makes staying competitive more important than ever.1

A living room.

Flooring & Paint

Make your community feel like home and wow your residents with eye-catching, sleek and modern flooring and paint.

Flooring & Paint Trends:

  • Vinyl Planks - Light, washed finishes
  • Carpet - Neutral or gray colors and loop carpet styles
  • Interior Paint - Cool neutrals and earth tones like Elephant Skin, Kindling, Cotton Grey and Sand Dance from BEHR®
Sconce lighting in a bathroom

Lighting

Revitalize your property with stylish and functional lighting. Simple updates, like pendant or track lighting and ceiling fans and fixtures, will transform your units. Use LED lights in your fixtures to increase longevity and decrease cost. LED bulbs use 75 percent less energy and last 25 times longer than incandescent bulbs.2

Lighting Trends:

  • Clear glass over frosted glass
  • Dark finishes like black, oil-rubbed bronze, aged brass and brushed nickel
A kitchen with a stove top oven sitting next to a window

Countertops & Cabinets

Create a look that speaks to your property with modern kitchen and bathroom cabinets and countertops. Choose designs and colors that complement the unit, such as gleaming white countertops or rich, dark cabinetry.

Countertop Trends:

  • Whites, grays and clean, bright colors
  • Cool neutrals and earth tones
  • Marble, quartz and granite slabs
  • Geometric styles

Cabinet Trends:

  • Solids and grains
  • Woods with character
  • Clean, straight lines
  • Shaker style
Cordless 2-1/2 in. Premium Faux Wood Blind

Cordless Blinds

Cordless blinds and shades update the look of your space, control light, provide privacy and reduce energy bills. In 2018, the American National Standards Institute mandated blinds be cordless or have inaccessible cords to be safer for children.

Air conditioning system

HVAC

January 1, 2020 is the deadline for the R-22 phaseout. Update your HVAC system with newer systems manufactured after 2010 to make sure your community does not rely on R-22. New HVAC systems are not only better for the environment, they’re also better for your budget. Choose an ENERGY STAR® HVAC model to reduce utility costs by as much as 20 percent.

Gas Range with Convection Oven in Stainless Steel

Appliances

Impress potential renters with state-of-the-art appliances. Upscale finishes and smart technology add value and appeal for residents without any major renovation costs.

Appliance Trends:

A group of people sitting on a bench with a dog

Outdoor Amenities

Edge out the competition with pet parks and outdoor resident amenities. Pools, outdoor lounge areas, playgrounds, fitness spaces and parks add curb appeal and increased return on investment.

Outdoor Amenities Trends:

Wifi thermostat, smart bulb, home monitoring kit, security camera

Smart Upgrades

Increase rental income and support lease renewals while lowering energy costs. Multifamily renters appreciate smart home upgrades like keyless entry, motion-detectors, motion-sensor lighting and smart thermostats. Smart home technology ranks among the top amenities desire by renters.

Did You Know?

Smart thermostats save your residents an average of 17 percent on cooling costs.3

Cam Wired Outdoor Rectangle Security Camera in White

Security

Safe properties can not only boost occupancy and reduce turnover, but renters could pay extra for state-of-the-art security. Keyless entry makes safety convenient for your residents by allowing them to manage entry into their home from anywhere. Motion-sensor lighting offers energy savings and safety for interiors with mobile controls and LED lighting and can offer sought-after smart features like the custom color or programming of specific bulbs.

Did You Know?

More than 61 percent of renters are likely to rent an apartment because of electronic features.4

1. Urban Institute, "Headship and Homeownership". 2015.
2. U.S. Department of Energy, "LED Lighting".
3. Bonneville Power Administration & Franklin Public Utility District, "Nest Learning Thermostat Pilot Program Savings Assessment." 2016.
4. Schlage, "Industry Insights." 2016.