Developing an existing Miami condo building with new amenities is an excellent way to attract more tenants. Whether you rent units to long-term residents or short-term vacationers, they’ll love finding these features on your property. Each addition will make their stay more comfortable and fun, especially as the approaching summer weather makes outdoor activities extra appealing.
1. Smart Thermostats
Luxury amenities include a variety of options, like smart thermostats. The Wi-Fi-enabled units make any condo feel like a five-star getaway from the future. They also reduce electric bills by 8% annually, which makes a significant difference in Miami's heat. Your HVAC units won’t need to work as hard to cool each room, even if tenants prefer a lower setting.
Find a model that works with your renovation budget and install it in each of your condos. It only takes a few minutes to plug them in where there are existing thermostats. Then, market these upgrades on your website. After seeing photos of the smart technology in each unit, future tenants will know they’re in for a futuristic, comfortable stay on your property.
2. Outdoor Lounge Furniture
Any Miami condo featuring a balcony should include lounge furniture. Tenants appreciate spending time outside, especially in a destination as beautiful as Miami. Prospective renters will also enjoy community relaxation with high-end lounge chairs and couches around a grilling station.
If you’re only working on one unit, you could install luxury lounge chairs on the porch for vacationers. This would ensure they get twice the use out of their time on your property, boosting seasonal demand.
3. Indoor Ceiling Fans
Airflow is critical in hot Miami weather. Even if your tenants spend all day inside, feeling a slight breeze makes relaxing more enjoyable. Give them every comfort by installing ceiling fans in each unit. They’ll appreciate the extra amenity and may pay more if competing properties lack indoor fans.
Ensure you have accurate room measurements before installing or upgrading the ceiling fans in your units. Condos featuring 9-foot ceilings require fans with a 12-inch downrod length so the blades aren’t so low that they hit taller tenants. Once you have the right downrod length, you can match each fan to your condo’s design.
4. Outdoor Shower
People always appreciate a place to rinse sand off their feet. Whether you have a beachfront Miami condo or not, an outdoor shower is an amenity your guests will treasure. Install one with high and low nozzles for multi-purpose use. Tenants can wash the salt out of their hair or fill a dog bowl with water after a long walk with their pups on the beach.
You’ll also need to decide if the shower will be open to the public. If not, you may have to install a fence around the back of your property. Your tenants could access it with a digital code or key fob. A private-access gate might be the best option for your upgrade if you want a more luxurious property.
5. Porch Fans
Summer activities like dinners on a porch or reading in the sunshine could become much more enjoyable with porch fans. Your tenants may love a constant breeze on their private patios or the community lounge. Add a few fans wherever people gather on your property to make them relaxed and comfortable on the hottest days.
If you pair your new porch fans with design upgrades, they will also attract tenants. Consider mood lighting like string lights or hanging lamps to make your porches and community spaces more welcoming.
No matter which models you install, they must be weather-resistant. Miami is prone to frequent summer storms and hurricanes. Your investment will last much longer if the fans can withstand high humidity and stray raindrops from heavy weather.
6. Bike Racks
Supporting your tenants’ biking preferences is a creative way to attract more renters. Install bike racks and wheel locks in your parking deck or along your building. Research shows that 45% of residents and tourists prefer biking and walking around Miami. Tenants will appreciate a safe space to store their bicycles.
If nearby condo buildings offer the same amenities, make your property more competitive by partnering with a local bike rental shop. Your tenants could access discounted prices for bicycles with an exclusive membership card provided in each of your units. They’ll save some money, and you’ll gain a few more interested tenants while supporting local businesses.
7. Private Parking
Parking is stressful in a beachside city, especially since visitors may not research public parking options before leaving home. As a result, residents often discover out-of-state vehicles in their condo building’s parking deck, preventing them from finding available spaces close to their units.
If your condos include private parking, they will be much more in demand. Install an automatic gate that requires key fob access to the parking lot. Your tenants will always know their parking spaces are available, even during busy summer months.
8. Swimming Pools
In-ground pools on residential properties have a 56% return on investment (ROI), making them a lucrative upgrade for Miami condo owners. Tenants may expect a pool on your property, whether beachfront or not. It’s a luxurious way to unwind and a bonus for tenants who don’t like swimming in the ocean.
Consider installing a pool on your property with reclining chairs, a grilling station, a poolside bar or surround-sound speakers. Renters will appreciate several opportunities to lounge by the water and want to book with you over local competitors for the poolside amenities alone.
Improve Your Miami Condo With Summer Upgrades
Renting Miami condos is much easier and more profitable when you give tenants what they expect from their stay. Luxury upgrades like a pool, ceiling fans, bike racks and more could boost your property’s long-term or temporary rental potential. People will look forward to staying in your complex for a high-quality experience on a property designed for their comfort.
Evelyn Long is a writer that specializes in housing market trends. She is also the founder of Renovated Magazine, where she writes essential resources for renters and homeowners. She has contributed to several other sites like National Association of Realtors and Realty Executives. Subscribe to renovated.com/subscribe for more posts by Evelyn.