DOES OUTSOURCING AMENITIES AND EVENTS IN MULTIFAMILY PROPERTIES MAXIMIZEPROPERTY VALUE?

In the competitive world of real estate, property developers and managers are constantly seeking innovative ways to enhance the value and appeal of their multifamily properties. One effective strategy is the outsourcing of amenities management and event planning to specialized amenity consulting firms. Amenity companies provide seasoned multifamily professionals with dedicated experts to help bring your property to life. The expertise goes far beyond putting together a cocktail hour. Amenity companies specialize in creating and managing recreational spaces and organizing events specific to the residents in your community. By outsourcing these services, managers and owners can leverage the knowledge and experience of professionals who understand the latest trends and best practices in amenity management. A well-planned and managed amenity program can significantly contribute to resident satisfaction and retention. Amenity companies specialize in creating engaging and community-building spaces and events. Increased satisfaction often leads to longer tenant retention, reduced turnover costs, and referrals for property owners.Outsourcing amenity management and event planning is a cost-effective option. Amenity companies contacts to secure better deals with vendors and discounts on materials for events. They also know how to accurately forecast the number of attendees your events will attract, which results in reduced overspending. Using an amenities expert also frees up a property manager’s time, allowing them to focus on core responsibilities such as maintenance, leasing, and resident relations. This, in turn, improves overall operational efficiency and effectiveness. Amenities companies also give you the competitive edge. It’s no secret that most buildings have your standard fitness classes and happy hours, but amenity companies can provide offerings that stand out from all the rest. For example, an outsourced amenity expert can provide unique community outreach initiatives and dynamic social events that will keep your property lively and exciting. Amenity companies also often have marketing expertise to promote and brand your property effectively. This can lead to increased visibility, attracting potential tenants and enhancing the property's overall reputation in the market. A well-marketed property can command higher rental rates and property values. Outsourcing amenities management and event planning to specialized companies is a strategic move that will help shine a light on your multifamily property. The expertise of these professionals improves leasing rates, resident retention, referrals, and satisfaction through community engagement. These are the attributes that will set your property apart in the competitive real estate market. Amenities specialists offer cost-effective solutions for the entire team; time savings for property managers and the leasing experts; and enhanced property value for the owners. By investing in the services of amenity companies, property owners can create a thriving, attractive living environment that sets their multifamily properties apart in the competitive real estate landscape.

Lisa Korcz has over 25 years of experience in amenities management, hospitality, event planning, space allocation, gym design, concierge services, pool operations, and new business development. After working for an amenities management company for over 20 years Lisa is now the CEO of Activ8 Amenity Consulting