Every day, more and more people move into urban cities. And this is something that can be seen with groups of friends, couples, and even families all over the world. This has sparked an interest in vertical living. This has been an increasingly attractive housing option amidst the growing population, urbanization, and scarcity of land.
This is why people are opting to live in apartments and condominium units. And with the development of innovations in technology and materials as well as the savvy use of space, more buildings are also popping up in different parts of the world. However, with increasing demand comes difficulty with supply at the start. And in the United States alone, there is a demand for 4.6 million new apartments by 2030, based on data from the National Apartment Association.
And as this mass movement goes into renting apartments in urban areas, renters also begin to expect a higher standard of apartment living, as built and enhanced by their landlords. This can be a high expectation to achieve, especially for landlords who are not too savvy when it comes to managing their rental properties effectively and efficiently. MySmartMove has also confirmed that about 45% of landlords manage their own properties, whereas others opt to hire property managers or outsource to a third party.
To add to this, landlords also need to consider how streamlined their residents’ experiences are. Are they easily able to reach out to the property managers when it comes to concerns about their unit, the apartment building, or their neighbors? Do they get the transparency that they need when it comes to maintenance, building updates, or the like?
This may seem like a small concern, but it can make or break how likely residents are to stay in the same apartment for a long time. So what can these landlords do to optimize how they manage their properties and provide exceptional service to their tenants?
This is where MyTower comes in, streamlining apartment living for both tenants and landlords.
Enhancing Resident Experience
MyTower is an all-in-one platform that levels up property management. It uses its platform to connect tenants with property managers, enhancing property and service management—all under one virtual platform.
The platform is designed to create a seamless experience for tenants without human intervention—whether it’s notifying residents of building maintenance updates or managing guest and entrance control for them with an integrated emergency alarm system. Through the platform, MyTower supercharges connectivity and easy communication within the building when talking about shared spaces, facilities, tasks, and other aspects of apartment living.
But the interesting thing about MyTower is that it can work with any type of property—whether residential, business, hospitality, commercial, and more. It ultimately creates the perfect solution that will match the needs of each property.
Because of this adaptability, MyTower includes on-demand services that can be customized to each property’s needs. This could look like adding room service, spa treatments, housekeeping, laundry, deliveries, an ecological car wash, discount prices, and a loyalty club. This can maximize the support for property managers and help them focus on much more important tasks.
Increasing Residents’ Lifetime Value
It’s not always easy for potential apartment renters to find a building that will prioritize their experience as residents. This is why property owners and managers who make use of tools like MyTower get an edge that can increase their residents’ lifetime value. Especially with Credit Karma stating that rents have increased by 24% on average between 2021 and 2022, this can mean that potential renters can be more meticulous about where they live.
This is an increasingly competitive market because property owners can find it more costly to evict a resident. This is confirmed by SmartMove, which states that evicting a resident can cost up to $10,000 for a landlord. That’s why, in a continuously modernizing world where people are moving into urban cities and are choosing to rent, MyTower vastly helps property owners enhance the resident experience.
