Luxury amenities can still turn heads-but increasingly, it's meaningful engagement that convinces prospects to sign on for the long term. Consumer expectations for personalized experiences and ultra-luxury hospitality have raised the stakes. Now, to win over and retain high-value residents, property managers need to elevate the residential experience as well.
This requires a fundamental rethinking of how properties are programmed-and how they integrate with the larger community. In short, property managers need to be in the business of building connections between the property, their residents and the surrounding neighbourhood.
At real estate company BentallGreenOak, this shift in philosophy is being led by a group of young, enterprising women with a compelling vision for remaking residential relations with experiential programming. In the process, they are helping to transform property management from a sunk cost into a powerful engine for revenue. Rental rates are up, vacancies are down and investors are seeing a higher return.