Luxury Apartment Facilities Highly Coveted in Texas Rentals
Throughout the last few years, an unusually high number of trendy luxury apartments have been springing up in Texas. New data from a RENT Café study reveals that 75 percent of new apartments in 2015 were high-end, luxury constructions. To top it off, the occupancy rate for these high-end living areas was almost 96 percent by the end of 2016.
What is Included in a Luxury Rental?
The latest rental developments built in Dallas boast amenities like those you would find in a neighborhood market. Why leave the complex when you can jump from the yoga studio into the shower right into the tanning bed? Other perks include dog parks, deluxe fitness studios and kitchen features like quartz or granite countertop options and stainless steel appliances. Think of your favorite luxury hotel; that’s what these high-end rentals strive to deliver for the renter’s experience.
Where is Demand the Highest?
San Antonio, Dallas, Austin, and Houston all had the most development completed in 2015; in the Odessa area, the builders only built luxury apartment facilities (RentCafe). Emerging metropolitan areas are part of the largest development boom for high-end rental suites.
Who Makes Up the Texas Metropolitan Renters’ Market?
Millennials and Baby Boomers make up the largest generational groups. New studies show that more and more Baby Boomers are downsizing and converting into renters. And many Millennials choose to rent in lieu of buying a home as they get settled in their careers and start families. Moving into high-end rental suites provides convenient access to amenities and high-end upgrades without the price tag of renovations. People are no longer impressed by a sub-par community pool, security gates and factory-made countertops.
Why Does a High-End Fitness and Yoga Studio Matter?
These generational groups work out for different reasons. The fitness center is a great way to connect people socially, create a stronger sense of community and provide a situation where residents are more likely to stay and be a part of the community. In addition to your traditional cardio and strength that are staple to any fitness center, many new fitness projects include an element of functional and group training to meet the demand for how millennials are training.
Advanced Exercise Equipment works closely with many developers and property managers in the major metropolitan areas of Texas. We help them create highly-desired fitness spaces, catering to all of their needs, including an initial consultation, electrical placement recommendations, flooring, equipment recommendations, and more! Take a look at a preview of our work in this Adele’s “Hello” parody created by Alliance Residential.
Learn more on how we can help drive sales to your luxury apartment leases. Reach out to our Texas consultants to arrange your free on-site consultation!