Have you noticed that the Charleston area, especially here in Mt Pleasant and West Ashley, has a new skyline? As you drive down familiar roads, you can’t help but notice urban looking buildings popping up. They are part of the growing number of apartment complexes that are strongly appealing to many but mostly millennials. They desire urban, communal living. The demand for apartment living is due to the idea that not everyone wants to have a house where they have to worry about upkeep. In an apartment complex, maintenance and cleaning needs are limited to the inside of the apartment. That frees up time to do other things, and makes it easier for people who may not be able to care for a yard and a home’s exterior as easily. Whether someone chooses an apartment for convenience (ease of care, close to work, etc.) or because of the social aspects, the popularity of apartment buildings continues to rise, especially here in the Low Country.
As with anything new, growth arises in the businesses that are connected. One area that has been affected is a growing need for property managers to help work with owners and tenants. That’s good news for property managers, since it can help keep their companies profitable and growing into the new year and beyond. It’s also important information for people who are looking for a place to rent, and investors who are interested in buying more rental properties. People are placing confidence in the Property Management companies to hold the management service to a higher standard. There are many companies out there and more evolving with this trend in apartment living. Survival of the best and fittest property management companies will most likely be the most successful.
Future trends indicate that the popularity of apartments is going to continue to grow. People are moving back into downtown areas in many cities instead of living in the suburbs, and as they do that the largest option open to them is an apartment complex. With the convenience these complexes offer, along with all the perks and amenities that can be found in a number of them, it’s very likely that more people will continue to choose a rental apartment.