Camden Property Trust has about 50 apartment communities across Texas and zero pickleball courts.
The fourth-largest apartment REIT in the U.S. focuses on amenities that every single resident will use and is careful about chasing fads, Camden Regional Vice President Richard Whatcott said at the Bisnow Multifamily Annual Conference in Houston on Wednesday.
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Which amenities to include and which to skip is an ongoing question, panelists said at the event at the Hilton Houston Post Oak. Some features help secure lease renewals, while others draw new tenants.
Mainstays like gyms may be underutilized but are still necessary and work like billboards for a property.
“A lot of residents think they're going to use some of these spaces and have a version of themselves played out in their mind,” Whatcott said.
Trying to factor in current trends, resident desires and longevity presents a challenge for developers deciding what amenities to include. Often, they end up asking themselves: to pickleball or not to pickleball?
The racquet sport surged in popularity and has been the fastest-growing sport in the U.S. for four consecutive years.
Hunington Properties has included pickleball courts at two properties and was debating including them on another three projects, multifamily development and operations principal Kate Good said. She spoke with her leasing team to get their opinions.
“They said that people want to live around the pickleball courts because it offers extra lighting at night,” Good said. “I said, ‘So I can build that lighting without the pickleball court? Without the $40K?’”
Talking to residents about what they really want to get out of their amenities helps determine what to include in new developments, panelists said. Southern Land Co. is investing in expansive fitness centers with infrared saunas, steam rooms, Pilates equipment and other features, Senior Vice President Kevin Wilson said.
These make it so residents don’t need a gym membership anywhere else.
“We just hired a national director of wellness. That's how much we're leaning into this,” Wilson said. “That person on my team will be responsible for figuring out resident events, how we can incorporate that, and also just being a sounding board for our residents.”
At the properties Asset Living manages, it has been retrofitting clubhouse rooms into work-from-home office spaces, Division President Tyler Johnson said, adding that some include soundproof podcast studios.
Podcast studios are relatively low-cost and easy to implement. Asset Living still runs into the occasional media room, but those are obviously outdated, Johnson said.
The WFH and studio spaces fit better with the lifestyles of modern residents and those touring properties, some of whom may be aspiring podcasters.
“When you look at bang for the buck, and as we create meaningful amenities, but also amenities that sell and market well, that's something that sticks out,” Johnson said.
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It is also important for operators to consider amenities that don’t have a physical footprint, Camden’s Whatcott said.
The REIT began building highly secure mid-rise and wrap-style buildings at the same time the gig economy and delivery options surged, bringing up the need for a solution to get people into the buildings safely and easily.
“We invested heavily in smart technology that lets folks give access to guests, to their Uber driver, their food delivery, and get them right to their apartment door,” Whatcott said. “We found that to be really, really valuable for our residents, but also really, really valuable operationally.”
The technology is practical and eliminates the need for maintenance staff to carry key rings with 600 or so keys, he said.
The quick fulfillment of maintenance requests is also an essential amenity. It is easy to assume the opposite, but residents who put in the most service requests are the most likely to renew, Whatcott said.
Every service request can be an invitation for a lease renewal conversation, he said. Functional teams can also help recruit new tenants, especially with the rise in artificial intelligence helping people find their next homes.
“Renters are searching through AI, saying … ‘Tell me the apartment that has the least amount of maintenance issues. Tell me the apartment that has the best management staff,’” Whatcott said.
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