Multi-Family Housing Trends

Multi-family homes are only getting more popular daily, but why is this? Read through this post to find out! Below, we discuss several multi-family home trends that all prospective renters should be aware of.

Demand for Multi-Family Housing Is Still Strong

While demand for single-family homes has largely cooled, demand for multi-family properties has remained resilient. A trend among millennials explains this.

Specifically, more and more millennials are choosing to rent instead of own, as they like the flexibility of renting. Moreover, many of them have been priced out of the single-family housing market.

And in multi-family homes, millennials can develop a sense of community, but more on that later.

Multi-Family Properties Need Smart Home Tech

Smart home tech used to be a luxury, but now it’s all but required.

Over the past few years, a lot of smart home tech has come out, and this tech doesn’t just make life around the house easier but also makes properties safer and more secure.

Below are some examples of smart home tech that renters expect nowadays:

Video Intercoms

The days of voice-only intercom systems being sufficient are over. Now, renters don’t just want to hear who’s at their door; they want to see too.

This is where video intercoms come in. Overall, video intercoms keep multi-family homes secure and tenants safe.

Remote-Controlled Mailboxes

Who hasn’t read a story about packages getting stolen right off someone’s porch? Heck, it might have happened to you! But, sadly, these are just the times we live in.

But you can prevent this with a remote-controlled package receiver. Not only will this secure packages large and small, but it’ll also keep them away from the elements.

Simply provide the password when ordering an item online, and the delivery person will enter it. Once the package has been received, use an app to ensure the receiver is locked.

High-Resolution, App-Controlled Cameras

Having cameras on a residential home used to be uncommon, but now renters want these to ensure safety and security.

It’s essential to have video cameras covering the parking lot. Then, if anything happens to a tenant’s car, they can present the police with video evidence.

The best camera is a high-resolution model that can film at night.

Multi-Family Properties Are More Diverse

Multi-family homes are more diverse these days, which many renters are looking for. In various multi-family homes, different cultures can thrive, and renters can take part in traditions they wouldn’t have access to otherwise.

Virtual Home Tours Are Helping Multi-Family Homes Sell

Virtual home tours are essential. If a property listing doesn’t have one, chances are it won’t get a lot of interest.

A thorough multi-family home virtual tour will cover not only the available unit but also the shared spaces and the exterior.

It’s even better if you can have current tenants be a part of the home tour, so prospective renters can get a sense of who they’d be living next to.

Community Is Important to Multi-Family Occupants

We mentioned earlier that community is important to millennials, and now we can elaborate on this.

Even though multi-family homes consist of independent units, many—especially those 100% occupied by millennials—could be mistaken for one ample community space. Some landlords even prefer this setup because it makes their lives easier; tenants who share space are more likely to take care of it.

Choose Sunrise Real Estate for Best-In-Class Property Management

Managing a multi-family property can be challenging, especially if property management is merely a sideline for you. Let professionals handle everything relating to property management.

Call us at (718) 355-9117 or check out our site to learn more about what we do and get a quote!

At Sunrise Real Estate, we’ve been managing properties in and around Brooklyn for years, so we’re a trusted and sought-after name in the property management space.