Mortgages & Home Loans What Is an Amenity? By Alene Laney Alene Laney Alene Laney is a personal finance writer for The Balance since 2021. She has written for the Chicago Tribune, Yahoo Finance, and Rocket Mortgage. learn about our editorial policies Updated on May 23, 2022 Reviewed by Doretha Clemon In This Article View All In This Article Definition and Examples of an Amenity How Do Amenities Work? Types of Amenities How Much Do Amenities Cost? Photo: bernardbodo / Getty Images Definition An amenity is a feature of residential or commercial property that enhances the appeal to the inhabitants. Key Takeaways An amenity can increase the desirability and value of a property to owners and tenants.Amenities can be included in rent, although this is not always the case.Some amenities are offered inside the unit; others are offered as part of the community. Popular amenities include yards, smart home technology, security, and co-working spaces. Definition and Examples of an Amenity The term "amenity" refers to the desirable features in a home, residential community, or commercial property that enhance its appeal to potential inhabitants or tenants. Amenities include features both inside the unit and as part of the community. Amenities help make a residence or neighborhood more comfortable and convenient. Note Housing units with more desirable amenities can attract new residents, cost more, or have higher rents. Amenities tend to lead to higher resident satisfaction, occupancy, and property values. For example, amenities frequently offered by apartments or condominium complexes are swimming pools, fitness facilities, park areas, pet spaces, and playgrounds. Many apartment complexes also try to align their amenities with the tenants they hope to attract. If an apartment complex consists mainly of one-bedroom units catering to young professionals, they may offer amenities such as co-working spaces or fitness but fewer child-friendly spaces. How Do Amenities Work? Amenities are used to create market appeal and generate more value. However, for renters and owners, amenities mean higher costs. Market Appeal In an email interview with The Balance, Andrew Meditz, president of Elite Amenity Management based in New York, revealed some of the most desirable amenities. These include access to a private gym, fitness studio, and swimming pool. He also noted that work-from-home amenities, such as co-working spaces or common areas, have become very desirable. In an email interview with The Balance, Andrew Meditz, president of Elite Amenity Management based in New York, revealed some of the most desirable amenities. These include access to a private gym, fitness studio, and swimming pool. He also noted that work-from-home amenities, such as co-working spaces or common areas, have become very desirable. Smart technology is also becoming more attractive. In an email interview with The Balance, real estate broker Michael Dean said, “From state-of-the-art, highly efficient HVAC to integrated lighting systems and app-driven security systems, the more technologically adept your home is, the better your market appeal.” Add Value Amenities add value for owners and those living in the community. According to Alex Peña of RentHop in an email to The Balance, “A good rule of thumb is that anything that adds on to the amount of usable space (like a storage unit, parking spot, or balcony) or creates more efficiency (like washer and dryer in unit, dishwasher, or elevator) will be a sought-after amenity and increase the value of the apartment.” Increase Upkeep Costs Because many community amenities are shared among the housing complex or neighborhood, they may need professional management and maintenance. In an apartment complex, the upkeep of these facilities is often managed in-house. Residents have no role in the maintenance but pay for it through increased rent. Note Some apartment complexes may have an amenity fee on top of rent; often, renters who don't pay the fees do not have access to the amenities. However, in a condominium complex or planned community, owners are generally required to become members of a homeowners association (HOA) and agree to abide by the conditions, covenants, and restrictions (CC&Rs) upon purchasing the property. As a part of the CC&Rs, the homeowner agrees to pay fees for the HOA to hire management and maintain the amenities. Board members are elected for the HOA and then govern neighborhood decisions, amenities, common area maintenance, neighborhood appearance, and more. Types of Amenities Amenities generally can be classified into two categories: in-unit amenities and community amenities. In-Unit Amenities In-unit amenities are found within the residential unit itself. Some common examples of in-unit amenities include: Washers and dryers Central air conditioning Forced air heating Balconies Smart-home features Wi-Fi High-speed internet Security High-end fixtures and finishes Renovated spaces Open floor plans Pet-friendly spaces Stainless steel appliances Closets or storage space Large windows and natural light Community Amenities Community amenities are shared by the residents of the apartment building, condominium complex, or HOA-governed neighborhood. Some examples include: Swimming pools Clubhouses Tennis courts Fitness facilities Parking Covered parking Parks Common areas Pet areas Security Package lockers Bike storage Co-working spaces Electric car charging stations Kids’ play areas Barbeque areas Picnic tables Community garden spaces Green spaces Elevators Note In a study by the National Multifamily Housing Council and Grace Hill, residents are willing to pay more for units that feature in-unit washers and dryers, air conditioning, soundproof walls, high-speed internet, and walk-in closets—because home, now more than ever, is considered to be a safe space. How Much Do Amenities Cost? Here are a few examples of typical amenity fees when they’re not included in rent: One-time: anywhere from $100 to $500 upon moving inMonthly: $30 per monthSwimming pool: $30 to $50 for the seasonBike storage: $10 to $20 per bike per monthOutdoor parking spaces: $10 to $400 per monthCovered parking spot: $50 to $600 per monthStorage: $50 to $200, depending on the size of the unitFitness centers: often included with rent, but some complexes where space is a premium can charge a feePackage lockers or management: $3 to $5 per month, sometimes with an activation fee of around $30 Charges and expectations for amenities vary widely in different parts of the country. In some areas, it is typical for amenities to be included in the price of rent, and tenants do not need to pay an additional fee. Some apartment complexes charge a one-time amenity fee, while others may charge them monthly. Was this page helpful? Thanks for your feedback! Tell us why! Other Submit Sources The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy. National Multifamily Housing Council. "2022 NMHC-Grace Hill Renter Preferences Survey Report." Fidelity Management. "Are Apartment Amenities Free?"