Innovations for new rental properties – Tapping into the millennial mindset
Building a sense of community and offering a wide array of amenities are two major trends in new rental properties, especially prevalent in big cities such as Toronto and Vancouver. As prices continue to climb and property sizes continue to shrink, developers are honing into consumer needs by offering unique rental-purposed buildings.
A shift towards building communities is becoming more and more common amongst new developments – consumers are no longer renting just a condo unit, but being able to partake in a greater sense of community in their building. Shared co-working spaces allow renters to work from home, without having a designated office area in their condo. Collaborative workspaces build community, create networking opportunities, and a designated work environment.
Enhanced fitness and wellness areas allow renters to save money and have more convenient access to full-service gyms, yoga studios, spin studios and change rooms to create a sense of well-being right at home. No need to spend hard-earned money on multiple memberships to fitness centres and studios. Developers are also tapping into the needs of millennials and the increasing trend of pet ownership. Many condo buildings now have designated pet washing stations or play areas, as well as pet-designated outdoor areas. Party rooms, meetings rooms and even movie theatres build the ideal community for work life balance, no matter how big or small your condo may be.
Condo living is now simpler than ever – and offers so much more than just a place to live.