June 2, 2020 |
Updated August 4, 2021
1. Today’s residents are busy.
Renters often work long, hard hours. Add in their active social calendars and, man, are they busy.
2. Lifestyle services are comprehensive.
Unlike concierge services, lifestyle services truly cover residents’ everyday needs: Laundry, pet care, dry cleaning, dishwashing, bed-making, folding clothes and housekeeping.
3. Service that sells.
Because they really make your company stand out from our competitors, lifestyle services can help leasing associates convert prospects.
4. Building a bond.
When apartment communities are able to send the same service professionals to residents every time, the residents often get emotionally attached to them. Residents can think, “My dog will be heartbroken if she no longer gets to see the same walker.”
5. I just can’t quit you.
When renters feel these significant connections with housekeepers and dog walkers, they can grow reluctant to move and therefore leave these relationships behind.
6. Say hello to new renewal rates.
One provider of multifamily lifestyle services has found that residents who purchase at least two lifestyle services have a renewal rate of 81.4 percent. When renters purchase more than 20 lifestyle services, their renewal rate jumps to nearly 90 percent. At apartment communities without lifestyle services, residents renew just 53 percent of the time.
7. Better with bulk.
There is something to be said for being multifamily! Because of the density of their communities, some property companies can offer lower fees for lifestyle services because service pros are able to serve multiple apartments at a time. I know many homeowners who are quite jealous of these savings.
8. You complete me…that is, your amenity package does.
Lifestyle services, combined with other top-notch amenities, offer residents a complete living experience and more reason to stay at your community.
9. A touch of class.
Many Class A residents live in apartments because they want a true resort-like lifestyle. Lifestyle services can give your community a Five-Star hotel feel.
10. No more risky business.
The right third-party provider will vet its local service partners, making sure each is licensed, bonded and insured. Background checks—done. High-quality standards—confirmed. You can be comfortable and confident that you have the best people helping to serve your residents.