LOCATION MATTERS TO RENTER, TOO
The real estate matra, “location, location, location,” doesn’t apply just to homebuyers anymore, but to renters also, according to the National Association of Home Builders (NAHB). The location of an apartment building is the most important feature for renters choosing their home. As a result more and more developers are choosing to build in urban areas near public transit, such Millennials – the largest group of renters – seek shorter commute times and better quality of life. Onsite fitness centers are becoming more prominent as well, with top-of-the-line equipment and yoga rooms. Common areas are become more, well, common, such as computer centers, media centers and lounges – previously separate spaces – are now coming together to foster more resident interaction.