IF YOU ARE LIKE MOST SOUTH BAY MULTIFAMILY PROPERTY OWNERS, you’ve likely noticed that demand patterns are changing. Today’s tenant pool reflects less single high-earners and more double-income couples and families, with many being remote and gig economy workers.

Enhanced outdoor spaces, where children can play, adults can work, and pets can do their business, too, are not only valued, but often a requirement of this new wave of applicants. Ample charging stations can bear out ROI, too, as they can command higher rents and can be the deciding factor when hybrid or electric car owners go apartment shopping. Landlords wisely prepare for more occupants per unit with increased Wi-Fi and electrical capacities, as well as a greater use of sound deadening materials when performing construction improvements. To signal lifestyle fit to prospective tenants, owners are fashioning every available square inch into working spaces, workout rooms, and bike storage.

With an eye on remaining competitive and profitable, the time has arrived for owners to move beyond just pondering the possibilities. Rather, it’s time to put pen to paper and calculate the ROI of key differentiators. By embracing the South Bay’s evolving tenant profile, those who take swift, strategic action will not only do better today, they’ll secure a more profitable future.