In response to declining homeowner rates and rising housing costs, the housing market is experiencing a build-to-rent revolution. This trend meets the needs of a wider range of households looking for practical, high-quality rental housing. Today's renters desire more indoor and outdoor space, maintenance-free living, privacy, top-tier amenities, and ample storage solutions. This shift redefines the rental market, highlighting the critical importance of quality storage.
The Need for Space and Quality Amenities
Average family sizes remain consistent, regardless of whether families rent or buy, underscoring the demand for comparable square footage. However, Multifamily units are shrinking, averaging just 923 square feet, which amplifies the need for more spacious rental options, particularly for families.
In addition, approximately 20% of Single Family renters are under 30, which indicates that rental homes are becoming the new "starter homes." These renters have specific expectations, with walk-in closets ranking as the second most desired amenity. The average income of Single Family home renters is also notably higher—$10,000 more—than that of residents in other types of rental units, showcasing their willingness to pay for premium amenities.
Storage Solutions Drive Rental Success
Build-to-rent developments are enhancing their offerings with adjustable and durable storage solutions to meet these evolving demands. Practical storage not only facilitates a smoother move-in process but also helps residents feel at home, ultimately boosting retention and rental income. Satisfied residents who have ample storage for their belongings are more likely to stay longer, appreciating the quality and continuity of their living space.
Closet quality is a critical indicator for residents in transition, particularly those downsizing from luxury apartments or those with growing families. These groups, which comprise over one-third of the rental market, seek homes that can adapt to their changing needs.
The Freedom of Adjustable Storage
As housing costs continue to soar, many families are choosing to rent rather than own, seeking rental properties that do not compromise on space or location. The Build-to-rent revolution is not just about providing a roof over people’s heads but about creating homes that offer quality, flexibility, and a sense of permanence. With innovative storage solutions like freedomRail, rental properties can meet the needs of today's diverse renters, paving the way for a more adaptable and satisfying rental experience.
The freedomRail®system is the only truly adjustable storage solution available in the market, perfect for build-to-rent developments. This system allows residents to customize their storage spaces, ensuring they can adapt to their needs over time. With 50% more steel than most competitive systems and the ability to hold 170 lbs per linear foot, freedomRail guarantees durability and reliability.
freedomRail’s furniture-grade laminate and ADA compliance ensure both aesthetic appeal and accessibility. Maintenance teams can easily reorder parts and accessories, providing a seamless transition for new residents.
For more information on how adjustable storage solutions can enhance your rental properties, visit https://organizedliving.com/multifamily.