Internet marketing and mobility has changed the way apartment owners interact with current and prospective customers. Smartphone apps allow residents to do things such as pay rent, submit maintenance requests and view service history.
Technology now helps dictate how the apartment units are priced. This is similar to the way pricing models are used in hotel and airline industries.
Pools and fitness centers are still important, but residents today desire the latest aerobic equipment and workout machines with individual television screens. There has been a shift away from community centers to now more of a cyber café setting with single-serve coffee machines, snacks, outfitted with comfortable furniture and Wi-Fi connectivity.
Location remains a big driver of apartment choice and residents want to be near their places of employment, restaurants and night life. The younger, well-educated customers increasingly want to live in town in in-fill locations.
Source: Sperry Van Ness|RealSite Commercial Group