7 Changes That May Be Coming to Rental Properties in 2022

Demand for rentals boomed in 2021 as tenants shored up their finances and plans. Looking forward toward 2022, we can expect a shift in the way landlords set up and market rental properties. Here are some changes that real estate investors should anticipate.

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While 2020 may have been the year of pandemic pricing, that ship has sailed. Rent prices soared in 2021 as landlords have attempted to recoup losses from the previous year. And with demand for rentals being so high, we can expect to see an increase in prices in most major markets during 2022.

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Remote work has been happening on a major scale for almost two years now. And even once companies start calling more workers back to the office, we can expect many to continue working from home in some capacity. Investors and landlords are likely to cater to this by configuring apartments to have a work nook of sorts.

Before the pandemic, renters may have sought out shared spaces for kid play areas and parties. Now, shared workrooms may hold more appeal. Not everyone who's still working remotely enjoys the isolation factor, so we could see more co-working spaces pop up within multifamily buildings.

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Having a gym in one's building used to be a major draw. These days, it could be a turnoff. Landlords may seek to shutter existing shared spaces to alleviate coronavirus-related concerns or simply not offer them in the first place.

Proper ventilation could be instrumental in helping to limit the spread of COVID-19. In the coming year, we could see many buildings upgrade their HVAC systems to allow for this.

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With so many people working from home, investing in higher-speed internet is a smart choice for multifamily landlords. It's also a good way to avoid a string of tenant complaints. Plus, offering upgraded internet could help landlords command higher rental prices.

While tenants may no longer be prioritizing shared indoor amenities, outdoor amenities are a different story. We could see more investments made into courtyard seating, playgrounds, and facilities like tennis and basketball courts.

The pandemic has had an interesting impact on real estate, to say the least. While many landlords have suffered financial losses since its inception, at this point there's a world of opportunity to profit within the rental space. It'll be interesting to see what changes ultimately shake out as landlords and investors alike roll with the times and adjust to our ever-changing reality.

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