Are Services the Next Must-Have Multifamily Amenity?
As the industry evolves, could a service-first approach be the key to staying competitive in multifamily?
In the changing multifamily landscape, resident expectations are shifting from traditional amenities such as pools and fitness centers to comprehensive service offerings that enhance convenience and quality of life.
This trend reflects a broader change in what renters prioritize, with services such as move-in assistance, on-demand cleaning and pet care becoming pivotal in attracting and retaining renters.
Recent studies underscore this shift towards service-oriented amenities. According to a report by the National Multifamily Housing Council, 75 percent of residents now prioritize amenities when deciding to rent or renew their lease. Services are no longer considered luxuries—now they are essentials in multifamily apartments. Properties offering these modern amenities have reported up to a 15-20 percent increase in lease renewals, as noted by the National Apartment Association.
By prioritizing services that enhance convenience and quality of life, property managers can not only meet but exceed resident expectations, leading to improved retention rates and financial performance.
Move-in services: Setting the tone for residency
The move-in process is a critical touchpoint that significantly influences resident satisfaction and retention. A seamless and stress-free move-in experience can set a positive tone for the entire residency.
By using a tool that allows residents to manage their entire move—from setting up internet, TV and utilities to booking movers, securing renter’s insurance, registering pets and communicating with the leasing team—all in one place, property managers can offer more than task automation. They provide a welcoming experience that helps residents recapture a sense of stability and “home” faster. Research from the Updater’s The Move-In Effect report proves that move-ins are directly correlated with renewals.
The integration of technology into service offerings has become a cornerstone of modern multifamily. Smart property management solutions facilitate faster unit turnovers by streamlining maintenance requests and vendor coordination, reducing vacancy periods. For instance, implementing platforms that allow residents to manage various aspects of their move-in process digitally can enhance satisfaction and efficiency.
Collaborations between property managers and service providers are instrumental in delivering comprehensive amenities. For example, U-Haul’s partnership with Moved.com streamlines move-in and move-out services, which can simplify the moving process. Such partnerships not only enhance the resident experience but also add value to the property by addressing critical needs efficiently.
Flexible furnishing: the rise of subscription-based living
As mobility and lifestyle preferences evolve, renters are increasingly drawn to flexible, hassle-free living arrangements. One service gaining traction in multifamily is furnished, subscription-based living—where residents can lease high-quality furniture without the upfront costs or long-term commitment of ownership.
Companies such as Feather, Fernish and Cort offer rental furniture, appealing to urban professionals, digital nomads and corporate renters. Instead of purchasing and moving bulky furniture, residents can subscribe to a plan that provides customizable furnishings for the duration of their lease. This not only reduces the financial burden of furnishing an apartment but also aligns with sustainability trends, as companies often refurbish and reuse furniture to minimize waste.
For property managers, offering furnishing-as-a-service enhances leasing flexibility and broadens the potential renter pool. Short-term renters, remote workers and relocating professionals find these options appealing, leading to faster lease-ups and reduced vacancy periods.
Some multifamily operators are now partnering directly with furniture rental companies to offer move-in-ready apartments, positioning themselves as lifestyle-driven brands rather than just housing providers.
The shift towards subscription-based living underscores a broader trend: renters expect services that simplify their daily lives and eliminate friction. Just as seamless move-in solutions set the stage for a positive living experience, flexible furnishing ensures that residents feel at home—without the stress of buying, assembling and later discarding furniture.
