Garin Hamburger, Senior Director of National Property Marketing at Pinnacle, recently moderated a panel of industry experts as they discussed, “Looking beyond the Amenities Arms Race: Attracting and Retaining Residents” at the Connect Texas Multifamily conference in Dallas. The conversation revolved around the change in apartment amenities and services, the target demographic and the rise of technology.
Panel participants included Andrew Bowen, Industry Principal at RealPage; Laurie Baker, Senior Vice President of Fund and Asset Management at Camden; Hugh Cobb, Principal at Alpha-Barnes Real Estate Services; and Ian Mattingly, President at LumaCorp.
Garin opened the session with a brief overview of the rising amenities arms race in the industry, where competitive properties are trying to lure residents with features like onsite bowling alleys, golf simulators, co-working space, and connected cafes. It was mentioned that while most amenities are geared toward Millennials today, it is imperative to appeal to other demographics in the multifamily space as well to ensure success. Having a good combination is the best approach.
As Garin guided the panel through different talking points, Laurie Baker made an impactful statement about how customer service has become an important forgotten amenity. Focusing on that, she said, will help any community stand out in today’s competitive landscape.
Wrapping up the discussion, Garin shared that the rise of technology is quickly entering the space as we are seeing more ‘smart’ apartments, fully connected communities with WiFi throughout, and mobile-enabled lifestyle amenities (like dog walking and housekeeping). He continued by commenting that Pinnacle is taking this approach to leverage technology in an effort to make life easier and more convenient for residents.