Ground Level Apartment Units: When and When Not to Charge Rent Premiums
- Noah Avery
- Apr 11
- 1 min read
Age demographic. That's the focus on this blog.
When I worked in residential sales, I was hired by a developer. There were three things this developer focused on to make a successful subdivision.
1.) No stairs
2.) Privacy for the residents.
3.) View
The reason I bring this up is because all three of the items are the same reasons for whether to charge rent premiums for ground floor units. However, this post will primarily focus on 1, no stairs.
Probably the number one reason older tenants pass on renting an apartment is because they have to walk up stairs. This older demographic would be more than willing to pay a premium on the rent if it's on the ground level.
If it's a younger demographic, you likely wouldn't have this stair objection at all and you wouldn't be able to get an additional rent increase.
