Competition is fierce among multifamily developers as the influx of residents to South Florida is motivating them to attract tenants with community-building amenities. Developers are adjusting their approaches accordingly, with many exploring alcohol licenses—something normally only seen in commercial real estate.
About 25% of surveyed renters said they left an apartment to find better apartment amenities and about one-fifth wanted improved community amenities in general. That’s according to the 2022 National Multifamily Housing Council/Grace Hill Renter Preferences Survey Report.
