The Great Outdoors—And Why You Should Use It to Market Your Apartment Communities
Tips to meet the needs of your renters and differentiate yourself from the competition.
If you aren’t emphasizing your outdoor amenities when marketing your apartment communities, you might be missing out on a valuable opportunity to not only meet the needs of your prospective renters but to also differentiate yourself from your competition.
“Outdoor spaces are a very important amenity right now, and we’re highly focused on it,” said Michael H. Zaransky, managing principal of MZ Capital Partners in Northbrook, Ill. “It started with Covid as a result of health and wellness but has maintained its legs because renters like it.”
Whether the spaces are linked to apartments, such as large balconies or rooftop terraces, or completely separate, such as parks or walking trails, renters today consider them to be valuable lifestyle amenities, and apartment owners who offer them are reaping the benefits, in terms of both attraction and retention of residents.
READ ALSO: Green Oasis: Multifamily Trends in Outdoor Spaces
“Because of work from home or hybrid working, people like more space in the outdoors during the day,” Zaransky said. “These spaces also create a sense of community and friendship, which is always a good thing, both for the renter and for the property owner for renewals.”
Renter Interest in the Outdoors Increasing
Zaransky said that outdoor space is so important to his investment strategy that for the last 18 months, he hasn’t considered any acquisitions of buildings without balconies or patios.
According to the 2024 NMHC/Grace Hill Renter Preferences Survey, 58 percent of survey respondents said they were either interested in or won’t rent in a property without rooftop space, up from 56 percent in 2022. Survey respondents were also asked how much more rent per month they would be willing to pay for certain apartment features or community amenities, and for rooftop space, respondents indicated they would pay an average of $55.97 more per month.
Zaransky said he is increasingly incorporating rooftop terraces at his apartment buildings. At The Jax, a 176-unit building in Chicago, the rooftop deck features an outdoor fire pit, grilling stations, lounge chairs and fabulous Chicago-skyline views. “It’s a closing tool,” he said. “On tours, even if people aren’t necessarily looking for it, it stands out, and then they realize it’s something they really want. It has a ‘wow’ factor.”
Using Outdoor Spaces as a Differentiator
Offering outdoor spaces, especially in urban areas where easy access to parks or hiking trails may not be available, can help apartment owners differentiate their communities from the competition.
“All of the new developments I see, unless it’s a high rise where you can’t put balconies, are putting some kind of terrace in—and they’re massive now,” explained Megin Stokes, director of real estate at Greystar. “Balconies are at the top of residents’ lists when they are looking for an apartment. Those are going first in our lease-ups as well.”
Lisa Gunderson, vice president of asset management for Bristol Development Group, said the company is putting more emphasis on outdoor areas to stand out to prospective residents. At Bristol’s Jewel at Santa Rosa Beach community in the Florida Panhandle, the company included a spacious lawn that has outdoor ping pong tables, cornhole and casual soft seating to encourage residents to gather outside. There is also a grilling pavilion nearby. “This offering is a differentiator in the market,” Gunderson said. “It provides community gathering alternatives other than just a pool deck.”
Gunderson said that when prospects take a tour, or even see a rendering of the lawn, they get excited and say they can imagine themselves using it. The lawn also helps with retention efforts since it fosters a sense of community among residents and makes the community “stickier.”
Best Practices for Outdoor Spaces
If you’re planning to incorporate outdoor spaces into a new development, or add them to an existing one, here are some things to consider:
- Connect the inside to the outside. “We consider outdoor spaces as an extension of interior space,” said Yoon Park, vice president of design for AvalonBay Communities. “We’re mindful of the transition zone.” Yoon suggested considering extending roofs so that residents are in a covered area before hitting open space. Another alternative is an outdoor exercise area adjacent to an indoor gym, which AvalonBay included at its AVA NoMa community in Washington, D.C. The proximity of the outdoor space invites residents to exercise both inside and out.
- Include both active and passive spaces. Some spaces, like outdoor gyms, pools and walking trails, are intended for active use by residents seeking health and wellness or the opportunity for gathering with neighbors. Others, such as park areas or courtyards, are intended for more introspective or passive activities, or for work-from-home opportunities in fresh air. Be sure to include both.
- Provide outdoor spaces for groups as well as individuals. “There’s demand for communal outdoor spaces, but also that leftover feeling from Covid that people need their own individual outdoor spaces,” said Joshua Zinder, an architect and managing partner of JZA+D. At 30 Maclean, a 10-unit rental in Princeton, Zinder included Juliet balconies off the apartment windows because even though space was tight, he wanted to give residents the opportunity to open the windows wide and enjoy the outdoors. “Gone are the days when you have a sealed-in box,” he said. “Fresh air is king, and I don’t see that changing any time soon.”
