Waterfront Properties Earn Extra Rent

Apartment buildings on the waterfront command rent premiums for their views and extra amenities.

Apartment buildings located near rivers, lakes and ocean shores earn extra money in rents.

“Renters pay an overall premium for waterfront apartments,” says Bob Thallander, president of Florida development for Bainbridge Companies, a multifamily developer headquartered in Wellington, Fla.

To build these properties, developers like Bainbridge fight off competitors and pay extra for land. Once they have the control of a waterfront site, they try to build units that give residents both views and access to the water and surrounding amenities—from walking paths to beaches and kayaking. “They want to see it and get out on it,” says Thallander.

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