We're building a 154-unit garden style property in Texas. The ownership has decided (due to cost and liability) No Pool and No balconies or patios. There will be a clubroom, pickleball court, playground and dog park. They also engaged wind engineers to have blds. laid out with windows that open for cross ventilation and do not plan on screens (in Houston). What do you think prospects response will be? Serious responses only please. Thanks!
They could have added a splash pad instead of a pool. I've seen them designed for kids and adults. Offers a place to layout and the mist keeps the temperature down.
As for no screens, I see apartments full of skeeters, flies, maybe a stray bird. Plus talk about liability. You do know what happened to Eric Clayton's kid, right?
The lack of patio and pool will be a deal killer for many. Especially since we (Texas) are a hot spot for transplants that are not used to the heat. Think about a lot of the rehab communities with a lack of those amenities. They pump money into the units themselves, but when they lack staples like that and try to compete with the newer and more amenity heavy communities, there is no comparison. Another thing to note, with many companies moving away from in office work/ space, more people are working from home and look forward to their patios and pools. Just my two cents.
I’m based in Texas, I have had properties all over the state. The no pool will be a huge problem. We also have a lot of bugs/ mosquitoes etc. not having screens on the windows doesn’t make sense. I have some units that do not have patios or balconies and they are always difficult to lease.
Tough to say because there will usually be a reason to gripe- instead focus on the positive and hopefully rents are structured competitively during the lease up! Too often I’ve seen market analysis provide a false sense of confidence because of the findings and a market unwilling to meet the launch rent prices.
Another consideration without patios or balconies is smoking especially if the apartments don't allow smoking indoors. A lot of smokers don't do so inside and want the outdoor space for that reason
No pool is a problem for new builds. Everyone expects it. As for AC, I did a lease up in Park City Utah high in the mountains. It was a verbal obstacle we had to overcome all the time. People are so used to it and will just choose an apartment with their wanted amenities.
I'm in Florida and I managed a luxury high-rise without a pool and without balconies and patios. In spite of the many upgrades people were very hesitant to rent without a pool and no balconies. Remind the owners how costly it will be if they're unable to meet proforma and have a sluggish or stalled lease up. In Florida, screens are required by Florida landlord statutes. You probably need to check the rules in your state.
Doesn’t sound good to me. A pool is just standard these days and people like to go outside off their apt to hang out, especially with all those folks working from home. He’s making a big mistake.
We don't have screens, New Orleans property. But it so humid, people don't open windows much anyways except in the winter when it is cold and the bugs are dead (mostly!).
No one will want to open any windows without screens and to be honest 99% of people don’t want to open windows at all as it allows allergens and insects into the home. No patios or balconies is tough as people want those features especially if they smoke. Without a semi private or private outside area people will smoke indoors even if it’s a nonsmoking property. No pool may or may not be a deal breaker but I doubt the pickle ball court will ever be used as most people don’t even know what that is. Basically, it sounds like they’re trying to cut costs and the finished product will reflect that. My question is - how will you attract residents if your competition has private patios and balconies, a pool, a picnic/grilling area, and tennis courts? If they can get everything they want and more renting somewhere else at the same price, why would they choose to rent at your community?
No balcony is fine. I manage a luxury high rise and 1/2 of my units have no balcony. We have floor to ceiling windows too and they don’t open. Not an issue. My last community was a luxury mid rise and only 1/2 had balconies. I do think if you have windows that open, they need screens. I also think a pool is a must on a new construction lease up. If you were renovating a historical building, I get it, but you’re not.
2 years 9 months ago#57951by Brenda Andrews Sherrill
I think you’ll have challenges for sure.
Not having a pool wouldn’t be a deal breaker, but no patios/decks is tough. Spending the money on wind engineers but not having screens in the windows seems like a waste of money. Not many people want to open their windows without screens.
As long as the units are priced accordingly, you should have no problems leasing up. Lack of screens on a property specifically designed for cross flow is a head scratcher. I personally would take out the pickle ball court also.
Screens are specifically mentioned in our lease and during move in orientation I give them this line " if you have screens, great. If you don't have screens, great. If you put a new screens, great. If you take out screens that are there, great. I've got nothing to do with screens."
This is normally followed up with the question "are there screens there now?" In which I reply "I don't know, I've got nothing to do with screens."
I think you can find a marketable group who won’t care about the pool but may feel the pricing should reflect no pool. It won’t be as easy as a lease up with a pool. A way to overcome would be to partner with a local gym that has a pool and that would help round out your amenity offering.
2 years 9 months ago#57955by Christy Carlton Harris
I think outdoor spaces have become more important than ever to our renters and not having patios/balconies nor a pool, especially in Texas, is an unfortunate cost cut. I would have put in a pool before pickleball. And then windows that open but don't have screens, to me, that screams liability.
2 years 9 months ago#57956by Michelle Cornelison-Cruz
Have leased up several of these with no amenities and just high end interiors - it’s struggle but prices can fix it all - have to be under comps with all the bells and whistles but high enough to make the deal work.
You all have great service so I am sure it will be great. It plan on at least 3 months more for lease up and plenty of marketing money so you have enough of a pool of tours to capture those that will go for it!
They should just install solar and go for off the grid!!
I don’t know your market, however, my first thought is to see if there are any fitness clubs or wellness centers that have pools where you can pay a membership fee. You could see about partnering with them and ask if they would offer your residents a discount. I agree that you would need to have very competitive pricing and I would also go after more corporate leases and clientele. I would also keep up-to-date with activities and events going on in the area and promote those to your residents as well as have events at the community. You want them to enjoy the neighborhood and feel at home in every way that you can.
2 years 9 months ago#57958by Brenda Brantley Walters