Hot Amenities? Don’t Need ‘Em
Digested by The Chicago Tribune
For some residents, modern amenities are a turn off. Find out what these people look for in apartments.
The amenities wars in luxury apartment developments have received a lot of attention during the past few years. But, as Mary Beth Klatt of the Chicago Tribune points out, not everyone wants a state-of the-art fitness center, pet spa or high-tech business center.
Instead, one subset of residents prefer apartments with a more vintage feel.
“Pink tile bathrooms last popular in the 1960s. Kitchens with original tile and cabinetry from the 1930s or 1940s,” Klatt writes. “Wallpaper from decades past lining bedroom, dining room and living room walls. These renters adore vintage appliances — refrigerators and ranges — but will manage with their modern counterparts.”
There is another huge benefit to older apartments. “Kass [Management Services in Chicago], whose property management company specializes in apartment buildings with vintage details, contends that [rents are considerably cheaper],” Klatt writes. “Within the same neighborhood, he says, renters can save anywhere from 15 percent to 25 percent on older units versus those with modern amenities.”
These residents do have to make lifestyle concessions to live in older buildings. For instance, these communities may be lacking in storage, noise canceling insulation, an adequate number of electrical outlets, air-conditioning and dishwashers, according to Klatt.