The Trap of the Amenities Arms Race
As property managers, we are all trying to anticipate the next wave of “needs” for our clients. Today’s developers, especially in the apartment housing sector, are taking things to a whole new level in an attempt to pander to the lucrative millennial market. But are all of these amenities really needed? Can something less expensive, but maybe more elusive to obtain, be a better investment?
First, some perspective: So what is driving the amenities arms race? The number of people renting who make more than $100,000 has increased between five and seven percent depending on the study you read. Nearly 20% of those making six figures are now renting versus buying, which is an all-time high. The competition for these renters is at the forefront of all of the new, high-end development. As an example, in 2019, more than 90% of all new apartments offered swimming pool access. While physical amenities like these are coming to be expected, renters are willing to pay premium prices for additional ease and convenience. That’s translating into desires for more services, advanced technology, and community.
Now the solution for you: Using food trucks and service trucks can accomplish two of the major desires - community and services! MOBLZ was designed to help property managers amenitize service vehicles. Using food trucks and service trucks can manage two of the major desires - community and services. By setting up food truck events and following our suggestions for recreational amenities
, you can help create a sense of community, whether it be for commercial or residential properties. With multiple types of service trucks available, you can help make your tenants’ lives easier without actually having to add physical amenities to your property. It’s a win-win-win situation. You win by attracting tenants, your tenants win by getting what they desire, and local small businesses win by having a place to do business.