Multifamily Dive looked at how operators are drawing renters in markets stuffed with lease ups and found three features getting the most traction: flexible business centers with meeting rooms, wellness spaces like saunas and cold plunges, and hospitality style resident services. The story notes that 1.2 million units were in lease up nationwide in early August and that southern concession use hit 21.1% in July while the national rate was 15.8%.
Why it matters to multifamily marketers
If your property is grinding through a long lease up, focus marketing on amenities renters will actually use most weeks, since operators report that spaces designed for daily use convert better than photogenic ones that only live on the website.