The population growth and people’s propensity for rental housing are creating a strain on the existing housing supply. According to data from the National Multifamily Housing Council, the U.S. needs 4.6 million new apartments by 2030 to meet the demand for rental living. That’s equivalent to 373,000 new units every year.
With the market for apartments growing larger, it’s up to developers to make their properties stand out and to add to their value. Because space can be limited, you have to maximize every part of your property. One of the most underused parts of any building is the rooftop and it just happens that there are many things you can do to utilize that area.
1. Roof Gardens
Architects and developers are reaping the financial benefits of adding roof gardens to apartment buildings. Rooftop gardens or garden rooms not only add aesthetic value to otherwise neglected and unused areas, but a shared garden community provides a place for tenants to de-stress from city life. With various garden room design ideas, you’ll have no trouble finding one that works for you.
2. Roof Terraces
Some property owners do not let its tenants stay on the rooftop of their apartment buildings. But, place a few comfortable chairs and the breathtaking city skyline view will do the rest of the work for you. This is a major draw for potential tenants or buyers of your property. A rooftop terrace also works to boost the value of your property, making it a hot commodity for renters.
3. Rooftop Pool
Instead of placing a pool somewhere on one of the floors of your building, why not make use of the rooftop for this purpose instead? A rooftop pool is a great place for your tenants to meet their neighbors and make new friends. By creating inviting spaces like this where residents can meet and socialize, you can increase your tenant retention.
4. Amenities for Pets
If your apartment doesn’t have garden space around it where dogs can walk and do their business, you may utilize your rooftop. If you create a dog or cat park, you’ll attract possible tenants who are pet owners. Amenities for pets are sure to add value to your rental property and can yield a good return on your investment.
5. Children’s Play Area
First, you have to make sure that your rooftop has walls high enough to ensure safety, especially for children. After this, you can now transform a section of your rooftop into a play area for kids. Rooftops are ideal because children don’t need to leave the building to have fun, but they’ll be getting the benefits of being outdoors. This is a good investment because you’ll attract a demographic group that includes young families. A safe play area for kids will surely be something that parents will appreciate and will constantly be a good selling point.
These innovations to the often-overlooked and underused space that is your building’s rooftop can prove beneficial in more ways than you thought possible. Whatever amenities you plan on adding to your rooftop, just make sure that you design it well and design it with your target demographic in mind.