Most sought after apartment amenities in Los Angeles

With the avalanche of new rental properties entering the Los Angeles market, there will be plenty of choice for renters looking for a new place to live this year. Developers are expected to add 5,000 competitive units in 2013, a 0.7 percent increase to stock, according to Marcus & Millichap. In 2012 L.A. saw the addition of approximately 2,200 units to its multifamily portfolio. The residential market may see a spike in rental rates, with effective rents climbing to $1,464 per month, as well as a diversification of property amenities. Renters are not just seeking a place to sleep at night anymore; they are looking for a home which can complement their lifestyles completely.

Most new developments are set in key locations throughout the city, close to entertainment and shopping destinations, parks or mass transit stops. Even if it implies downsizing, city apartments are a far better alternative to suburban living in the current economic context; urban living often times comes with simplified lives and convenience as opposed to consuming mortgages, long commutes and total dependency on auto travel.

Location is only as important as the quality of the property itself. Feeling safe and secure trumps all other apartment amenities. A gated community or a property that features a doorman presence, strictly-controlled access and security cameras is almost always preferred over apartment buildings whose main entry doors remain unlocked and anyone can just walk in.

Additionally, tech offerings are a major draw for busy professionals and other dynamic renters. We’re living in the age of constant technological breakthroughs so it’s only natural to be able to do everything online, from finding an apartment through executing the lease and engaging in a maintenance request. On-site management and 24-hour maintenance availability are also at the top of the most coveted amenities among apartment renters. For the residents of the Silver Lake Towers, a great property conveniently located less than five miles northwest of downtown Los Angeles and just east of Griffith Park and Hollywood, professional management and reliable maintenance services are just a phone call away.

While not an essential feature, recreation facilities like exercise rooms, clubhouses, tennis courts, swimming pools and green spcaces can only add a plus of value to a property. Young renters rely more on social ties and influence than the past generations, hence the need for comfortable common spaces where socialization and interaction come naturally.

In today’s competitive market, accommodating a pet could be a deal breaker. As more than 52 percent of California households now own a pet, whether it’s a cat, parrot, or dog, the prospective tenant pool is much larger for landlords who choose to make their properties pet-friendly. Generally more responsible, pet-owning tenants prefer to stay put for longer periods of time, making them stable renters.