{"id":1004164452,"date":"2017-01-18T02:05:02","date_gmt":"2017-01-18T10:05:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004164452"},"modified":"2022-12-09T02:29:09","modified_gmt":"2022-12-09T10:29:09","slug":"property-management-striving-for-satisfaction","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/property-management-striving-for-satisfaction\/","title":{"rendered":"Property Management: Striving for Satisfaction"},"content":{"rendered":"

By Mallory Bulman<\/p>\n

\"\"<\/a>At a time when the U.S. Secret Service is being touted as a hot new amenity at Trump Tower by agency Douglas Elliman, it could be an easy assumption that multifamily developers and owners are going overboard with their emphasis on amenities. A doorman and on-site laundry just aren\u2019t enough to draw in today\u2019s renter, especially in the luxury sector, where there are no shortage of choices. It\u2019s not uncommon to see multifamily communities offering unconventional benefits like glass-bottomed pools, spin cycle studios, dog parks and leasing centers that look more like country clubs than business centers.<\/p>\n

However, there is evidence to suggest that a specific amenity class may have staying power among the Bluetooth-enabled fitness machines and saunas of the apartment world. According to statistics from J Turner Research, Millennials and Baby Boomers ranked 24-hour security and service guarantees as the most important community services. It seems that in an increasingly digital and impersonal world, today\u2019s renters crave personal attention and service above most other building perks.<\/p>\n

Enter the multifamily concierge, an upgraded version of the traditional hotel concierge who knows your name and preferences and can help with everything from receiving packages to booking dinner or theater reservations.<\/p>\n

According to Nick Alicastro, vice president of business development at Western National Property Management, \u201cThese partnerships create an additional level of convenience for residents and add to the overall appeal of a multifamily community. This increased appeal will ultimately drive traffic to a community, as well as provide opportunities for premium rents.\u201d<\/p>\n

Going the extra mile<\/strong><\/p>\n

The multifamily concierge wears many hats, but overall, they are responsible for fulfilling the requests of all residents and anticipating their every need. \u201cIf they need for us to research local companies for them, like moving services or pet sitting services, we do that. In general, we provide information, and we provide this service six days a week, (including) Saturdays for those who can\u2019t get to us on weekdays,\u201d said Neil Trifunovski, general manager of Waterton\u2019s Presidential Towers in Chicago. Waterton employs a third-party vendor called Corporate Concierge Services to plan, advertise and execute special events onsite; provide food on the community\u2019s weekly \u201cNo Cook Wednesday\u201d; secure discounted tickets to local attractions like the Willis Tower observation deck, the aquarium, museums or Big Bus Tours; and offer other services.<\/p>\n

Premiere Concierge, another third-party service, is a similar company that takes an all-inclusive approach to integrating itself into the apartment community. The company, which is intimately familiar with the multifamily industry through its ownership of 18 communities, creates a custom-branded \u201cvirtual concierge\u201d for each client, according to Business Development Specialist Aron Freeman. The virtual hub, accessible online and via a mobile app, allows residents to request maintenance service, reserve parking and allow others to enter their unit, among other features. Using the community\u2019s branding for the digital assets draws a subtle connection for residents between\u00a0 the benefits of the concierge service and their choice to live in the community, according to Freeman.<\/p>\n

\u201cAt the time of renewal \u2026 it\u2019s the service and the personalized attention and the personal catering to their needs that\u2019s unique.\u201d<\/p><\/blockquote>\n

Haley Rafferty, general manager at Related\u2019s 500 Lake Shore Drive in Chicago, said the building\u2019s concierge acts as a \u201cgatekeeper,\u201d with responsibilities varying greatly depending on the individual resident and time of day. \u201cIt\u2019s always going to be something different. During the day, they might be providing access with the resident\u2019s permission for their housekeeper to come, or for the dog walker to come\u2014taking care of the resident\u2019s needs even when the resident isn\u2019t here,\u201d she said. \u201cThe resident can set preferences, (like) \u2018My housekeeper comes every Tuesday, and they have permission to enter my apartment,\u2019 (which) all is logged in Yardi, our software system, so they can see what that resident\u2019s preferences are\u2014if they have permission to check the key out or if the resident prefers to be called and grant permission.\u201d<\/p>\n

At 500 Lake Shore Drive, no request is unimportant. The concierge staff can deliver packages inside the resident\u2019s unit, and if preferred, can even unpack and recycle the boxes. For residents who enjoy the convenience of online grocery shopping with services like Blue Apron, the concierge will unpack the food and put it in the fridge and freezer so it\u2019s ready to go when the resident returns home. There is essentially no limit to the services offered\u2014no matter the request, \u201cour staff will deliver,\u201d Rafferty said.<\/p>\n

\"The<\/a>

The concierge desk at Presidential Towers in Chicago takes center stage in the lobby. Image by Darris Lee Harris<\/p><\/div>\n

Best practices<\/strong><\/p>\n

It takes a specific breed of multifamily community to run a concierge service smoothly. First, the nature of the service is more tailored to larger, luxury communities where the rent costs can justify the expense of extra hires. At 500 Lake Shore, operating a concierge service means having two people on a shift rather than just the doorman.<\/p>\n

\u201cSome of the smaller companies are perhaps not equipped to handle this type of a service, or perhaps they\u2019re too small to handle something of this nature or their model is just not set up that way,\u201d said Trifunovski. With more than 2,000 units, \u201cI think our sheer size at Presidential Towers helps us provide that service.\u201d<\/p>\n

One of the motivations for adding a designated concierge office at Presidential Towers six years ago was the foot traffic coming into the leasing center with non-leasing-related inquiries. It was overwhelming, and keeping leasing agents from their work. \u201cThis way, we have a department that specializes and spends time on doing research into what\u2019s happening in the city, where people are going, what the prices are, what the discounts are, planning events and doing different things,\u201d Trifunovski explained.<\/p>\n

500 Lake Shore Drive opened its doors in 2013, when concierge services were more of a priority for a new community than they were when Presidential Towers was built in 1986. \u201c(The concierge service) started before the building opened, so all of our staff underwent a proprietary training program, learning how to anticipate residents\u2019 needs and understand their preferences,\u201d Rafferty said.<\/p>\n

During this training period, employees were educated on the 24\/7 aspect of service, a component that Rafferty said is integral to ensuring resident satisfaction. \u201cIf you\u2019re going to say you have this service, you have to be able to execute it, and it has to be done consistently,\u201d she said. \u201cIt has to be consistent across all 24 hours of the day and all seven days of the week. \u2026If you\u2019re going to promise this to your resident, you have to live up to that promise.\u201d<\/p>\n

The bottom line<\/strong><\/p>\n

For many, investing in a concierge service program may not seem feasible or worthwhile, but for luxury properties, especially in metropolitan areas with lots of competition, it can provide a much-needed edge. As more of the renter pool consists of renters by choice, luxury communities must provide more equity than homeownership would, and having a dedicated staff to attend to errands, entertainment and appointments can ensure satisfaction and loyalty. According to those who employ concierges, the payoff in resident satisfaction is evident when it comes time to renew their lease.<\/p>\n

That return on investment is \u201chard to quantify,\u201d put in Freeman. However, he added, \u201cfor every dollar you spend on a concierge service program, you see about a $3.80 return on your investment, and you see that a couple of ways. You see that through resident retention, new resident procurement \u2026 and then also in removing the burden of non-leasing issues off the shoulders of the management team.\u201d<\/p>\n

\u201c(The concierge) is an integral part of developing relationships with our residents so that their stay here is happy and satisfactory, and we try to go beyond expectations anytime we possibly can,\u201d said Trifunovski. \u201cI think it shows when renewal time comes. Folks feel that they\u2019re part of the community. We have folks here that have lived here for years and they keep renewing.\u201d<\/p>\n

Noted Rafferty: \u201cWe do resident satisfaction surveys, and consistently, they give a special shout-out to a certain individual who goes above and beyond.\u201d At 500 Lake Shore Drive, according to Rafferty, the personal relationships that residents develop with concierge staff prove to be one of the most appreciated benefits of living in the luxury high-rise. \u201cAt the time of renewal \u2026 it\u2019s the service and the personalized attention and the personal catering to their needs that\u2019s unique,\u201d she said. \u201cOur staff has established trust with the resident, and they feel good about that. \u2026 They aren\u2019t going to get that somewhere else, or they\u2019d have to start at square one somewhere else.\u201d<\/p>\n

While a Nest thermostat or keyless entry may be forgettable, personalized service isn\u2019t. \u201cYou\u2019re getting someone who knows your name, who greets you the way you want to be greeted, who treats you the way you want to be treated,\u201d Rafferty summarized.<\/p>\n

Originally appearing in the CPE-MHN Guide to 2017<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Concierge Services\u2019 Increasing Popularity<\/p>\n","protected":false},"author":1165,"featured_media":1004164455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1521,21742,21785],"tags":[],"class_list":["post-1004164452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital","category-latest","category-property-management"],"acf":[],"yoast_head":"\nProperty Management: Striving for Satisfaction - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/property-management-striving-for-satisfaction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property Management: Striving for Satisfaction\" \/>\n<meta property=\"og:description\" content=\"Concierge Services\u2019 Increasing Popularity\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/property-management-striving-for-satisfaction\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-18T10:05:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:29:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/SFrances_130424_0562_B_talent.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"914\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mallory Bulman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/property-management-striving-for-satisfaction\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/property-management-striving-for-satisfaction\\\/\"},\"author\":{\"name\":\"Mallory Bulman\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/8213442cafde091f9c5a5ca9f025dc37\"},\"headline\":\"Property Management: Striving for Satisfaction\",\"datePublished\":\"2017-01-18T10:05:02+00:00\",\"dateModified\":\"2022-12-09T10:29:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/property-management-striving-for-satisfaction\\\/\"},\"wordCount\":1518,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/property-management-striving-for-satisfaction\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/01\\\/SFrances_130424_0562_B_talent.jpg\",\"articleSection\":[\"Digital Edition\",\"News\",\"Property Management\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/property-management-striving-for-satisfaction\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/property-management-striving-for-satisfaction\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/property-management-striving-for-satisfaction\\\/\",\"name\":\"Property Management: Striving for Satisfaction - 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