How experience economy helps to personalize resident life

experience economy in the living experience and renting for residents

In renting an apartment, Owners and Operators might sometimes find it difficult to offer residents the freedom to personalize their living experience the way they want. Although there are instances where an owner cannot allow for change, like painting the apartment or letting the resident make unit updates, personalization within a community is an important aspect of helping residents to feel at home. How can Owners and Operators allow for personalization with limitations? Experience economy is a BIG part of this- the memorable services and goods the community provides will enhance resident life. 

Residents sign leases at communities that fit their style of living and align with their values.

Your dog-loving residents will be thrilled to know that not only does your community offer a dog-park on the property, but the on-site team always has a jar of treats on hand. Although these are small details, adding a touch of personalization to this aspect of the living experience is an easy way to show prospective renters that the property has considered all angles of what it means to be a dog owner at your community. “You love improving your bottom line, which is why you put your focus on your residents and learn which amenities will attract and retain renters.” Show residents you’re not just a dog-friendly community, you’re a dog-LOVING community!

There are other ways to offer personalization within limitations too…

Communities have a variety of residents; WFH, in-office workers, and even residents who travel (maybe up to 50 percent of the time). With so much online shopping, it’s necessary for a community to have a package system in place ready to keep residents’ deliveries secure. Because there are so many work schedules to consider for your residents, property managers that strive to accommodate an abundance of working situations will find high resident satisfaction in this aspect of the living experience. One way in which communities can accommodate a residents’ work-life balance, is by offering resident’s deliveries to come at any time of day (or week, for that matter) that the resident chooses. Residents don’t have to spend their drive home from work worrying about missing a delivery, stress over not being available to sign for a package, or think about the meal subscription delivery sitting at their doorstep that they can’t get into the freezer soon enough. The resident package delivery experience doesn’t get more personalized than that!

On the other hand, residents who travel won’t have to pay pesky package locker fees while they’re on a business trip, because off-site package management also means holding deliveries securely until residents are ready to receive them! WFH residents might always be ready for their packages to be delivered day-of, even these residents will have the autonomy to personalize their delivery experience. With that being said,

Empathize with your WFH residents

Show your residents the community has got what they need to be successful at their job. Residents sometimes need to change it up from the typical work from the kitchen island or desk. Does your community offer communal spaces that residents can use to have a change of scenery during the workday? Are chairs and tables placed near outlets? Maybe designated some time for quiet working hours in those common rooms? The increasing WFH population  just might sign the lease at your community if you show you’ve got the environment tailored to their needs. 

Experience Economy is everything in helping the resident personalize their living experience within the  limitations of renting. You might not be able to allow renters to build shelves into the apartment walls, but offering dog baths is a HUGE bonus in a pet-friendly community. And when residents get packages shipped with their pup’s food and new toys, they’ll be able to schedule the delivery for whenever they choose through direct-to-door delivery with Fetch. 

Learn about off-site package management for your community here.

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