Subscribe to our newsletter
Amenities have evolved from resident perks to business-critical tools for boosting retention, NOI and operational efficiency. But with amenity fatigue on the rise, residents and operators alike are questioning which features truly matter. Rooftop lounges and rock climbing walls may look impressive in a brochure, but what actually pays off in today’s market?
The new amenity equation: Resident expectations vs. real ROI
Multifamily operators have long relied on amenities to stand out in crowded markets. For years, this meant delivering resort-style common areas: state-of-the-art fitness centers, rooftop fire pits, luxury lounges—you know the type.
But times have changed. Today’s renters want more than aesthetics—they want control, convenience and connectivity.
And operators want more than flashy features—they want results.
The new amenity equation is simple: the best amenities are those that align renter demand with owner ROI.
What today’s renters want (and how that’s changed)
The definition of "desirable amenities" has shifted. Instead of prioritizing shared luxury, renters are increasingly drawn to in-unit and digital conveniences. Smart tech, high-speed internet, and contactless experiences are becoming the new baseline.
Here’s what today’s renters prioritize, according to the NMHC/Grace Hill 2024 Renter Preferences Survey, Zillow’s Consumer Housing Trends Report, and REBusinessOnline:
In-unit laundry
Smart thermostats and locks
Reliable, high-speed internet
Secure package delivery and storage
Self-service leasing and touring options
Energy-efficient appliances and utilities
These aren’t just preferences—they’re expectations. Especially among Gen Z and millennial renters who have grown up in a connected, digital-first world.
Tech-forward amenities signal modernity and ease. And as renters continue to view housing through the lens of lifestyle alignment, these features can make or break a leasing decision.
Which amenities actually pay off for owners?
While renters crave convenience, owners need amenities that contribute to the bottom line. Fortunately, there’s meaningful overlap. Many of the features renters want also happen to reduce costs, simplify operations and support long-term asset value.
According to the 2024 NMHC/Grace Hill Renter Preferences Report, more than 70% of renters say they value smart thermostats, smart locks and leak detection systems—amenities that not only enhance the resident experience but also reduce energy costs, improve operational efficiency and help prevent costly damage.
Here are a few amenities that consistently deliver ROI:
Smart thermostats
Not only do they give residents control over their environment, they reduce energy usage and utility expenses. For operators paying utilities or seeking LEED certification, this is a win-win.
Access control
Detailed event logs and credentialed access monitor entry into your community. Access control also streamlines move-ins and improves peace of mind, which residents increasingly value.
Self-guided tours
These tours expand leasing hours, reduce the need for on-site staff and improve tour-to-lease conversion rates. They also appeal to renters looking for flexible, low-pressure options.
Leak detection sensors
These low-profile devices help detect major damage by identifying leaks early, saving potentially thousands in repair and insurance costs.
Smart lighting and outlets
Automated lighting can enhance resident comfort and lower electricity use, while smart outlets offer convenience and encourage energy-saving habits.
On the other hand, amenities like golf simulators or wine-tasting rooms may look impressive but often see low utilization. If they don’t contribute to occupancy, retention or operational efficiency, they may not justify their cost or footprint.
Where renter wants and owner ROI align
The sweet spot for multifamily operators is where resident expectations intersect with operational upside. These are the features that feel like perks to renters but function like tools for owners.
SmartRent’s ecosystem of solutions frequently lands in this middle ground:
Smart access systems provide seamless entry experiences for residents while minimizing key management headaches for staff.
Leak sensors deliver peace of mind for renters and protect owners from catastrophic damage and insurance claims.
Smart thermostats make residents feel more comfortable and in control, while helping operators meet sustainability goals and reduce utility spend.
These are not luxury add-ons—they’re scalable, high-impact upgrades that enhance daily living and streamline operations.
Rethinking what counts as an “amenity”
Operators need to reframe how they think about amenities. In today’s rental environment, amenities aren’t just lounge chairs and yoga studios—they’re experiences that offer residents more control over how they live.
Mobile access, self-service tools and personalized digital experiences now matter just as much as physical spaces. In fact, for many renters, these features aren’t perks—they’re necessities.
Operators who focus on “quiet convenience” often outperform those chasing buzzworthy features. A smooth move-in, transparent communication and a smart thermostat that adapts to a resident’s schedule can deliver more satisfaction than a virtual golf room ever will.
And with increasing pressure around ESG reporting and sustainability, smart, tech-enabled amenities aren’t just resident pleasers—they’re long-term strategic assets.
The bottom line: amenities that deliver real value
The best amenities don’t just look good on a tour—they provide daily value. For renters, that means a seamless, modern and personalized experience. For operators, it means higher retention, lower costs and better NOI.
Smart technology checks both boxes.
By prioritizing features that balance renter demand with operational impact, operators can future-proof their portfolios and meet the expectations of today’s tech-savvy residents.
Ready to see how SmartRent’s platform helps you offer the amenities today’s renters want—and tomorrow’s market demands? Schedule a demo today to get started.