Apartment Renters Still Want Their Luxury – Getting Your Piece of the Market

Headquartered in Atlanta, GA, Post Properties, Inc., founded 40 years ago, is one of the largest developers and operators of upscale multifamily communities in the United States. Post Apartment Homes® focuses on providing resort-style garden apartments and high-density urban apartments with an emphasis on resident service and a strong brand identification.

While you probably might not want to get involved in apartment investment, recent reports from Post Properties can definitely get a little adrenaline pumping about upscale single family home rentals. They state that, despite the current economic downturn, their customers’ expectations and desires for luxury living haven’t changed.

Their tenants who have enjoyed continued employment want to stay in their units and continue to enjoy their definition of luxury. They care about location and unit quality, as well as customer service. They want attention when they call with a problem or question.

These three requirements are easily satisfied with a single family home or luxury duplex as well. You can certainly deliver on the attentive service, and they get a yard to boot. There is definitely no shortage of up-scale homes in foreclosure and available at deep discounts. With a demand for luxury comes a willingness to pay the rents necessary to have it.

In northeast Dallas, TX, Lincoln Property Co. is preparing to knock down some of its very successful sprawling Village apartment project. 400 units will be torn down and replaced with 350 luxury rental units. There will be fewer units, due to larger sizes and luxury features.

This is the fourth consecutive year of suboptimal construction in the multi-family sector, with little expectation of improvement in the near future. This should create a market for nicer homes that will provide the luxury the renters want, yet also garner the rental income necessary to make investors happy.