Lifestyle as a Service

  1. Understand the pain points.

Everyone’s busy. Tenants frequently work long hours and many from their “home office” making consistent on-demand services even more important. Finding providers on top of it all can be overwhelming.

2. Offer dynamic services for a dynamic consumer base.

Lifestyle services, unlike concierge services, cater to tenants’ everyday requirements, including laundry, pet care, dry cleaning, dishwashing, bed-making, clothing folding, and housekeeping.

3. Know what “moves” people.

Lifestyle services can aid leasing agents in converting prospects. Over 65% of rentals will be using these techniques to create differentiation within the next 3 years.

Photo by BRUNO EMMANUELLE on Unsplash

4. Understanding the resident behind the rent check.

Residents frequently form emotional bonds with grounds keepers and maintenance professionals who are regularly onsite. Residents may also consider, however, “My dog will be devastated if she can no longer see the same walker.”

5. Who’s who in the zoo.

A thoughtful ecosystem is supposed to be empowering. Your management software should ensure that its local service partners are licensed, bonded, and insured. Their services should be curated and quality rated. You should have only the best serving you and your residents.

6. A reason for renewing.

It’s been discovered that communities with residents who purchase at least two lifestyle services have an 81.4% renewal rate. When renters get over 20 lifestyle services, their renewal rate approaches 90 percent. At apartment developments without lifestyle services, only 53% of residents renew their leases. (NAA)

7. Buying power.

Property management software can be a gate keeper or the golden key! Due to consumer count and access, certain property management companies are empowered with lifestyle services at a reduced cost, as service professionals may tend to many units at once. This buying power leads to savings that many are envious about.

8. Think beyond the four walls.

Consumers do their homework and NPS (net promoter score) score is becoming more important. Lifestyle services, in conjunction with other first-rate amenities, provide residents with a comprehensive living experience and greater incentive to remain in your community.

Photo by Duy Pham on Unsplash

9. Those red carpet feels.

Many Class A inhabitants choose to live in apartments because they desire a resort-style of living. However, resident accessible lifestyle services, rewards and discounts can offer any community the feeling of exclusivity and luxury.

10. Loyalty to lifestyle.

The more someone interacts with service professionals, the more likely they develop close relationships. By offering access to housekeepers and dog walkers, they may become reluctant to move and, as a result, abandon these relationships.

by Barret Newberry, CEO Leasera

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