By John Hall - August 16, 2018
This is a great time to be in multifamily housing. Not only is the market strong, but there are many new products and services out there that are moving the industry forward. The crew at Pynwheel is always excited to find out about other companies with really great ideas, and we have met a bunch in the last few years. Today, we would like to tell you about one of these companies - Amenify.
So why do we think Amenify is so cool? Here are some of the things we like the most:
1) It gives communities with limited opportunities for capital improvements a competitive edge.
If your community is short on amenities and trying to compete in a strong market, it’s a great way to enhance your appeal. Amenify provides dog walkers, fitness instructors, cleaning teams, massage therapists - even ridesharing. While you may not have the space to add a game room or a pool, you can add concierge-type service amenities that appeal even more strongly to your residents.
2) It’s a simple way for apartment operators to greatly expand their amenity offerings.
While a community could go out and create their own relationships to offer various resident services, the process of doing so represents a significant drain on resources. Amenify is able to jump through multiple hoops on an apartment operator's behalf, from identifying providers, to pre-screening and insuring them, to achieving the best incentives by leveraging multiple relationships. Onsite managers are too busy for this - thankfully, Amenify does the work.
3) It allows communities to build their brand through the Amenify platform.
Communities brand their Amenify offerings as their own, avoiding the pitfalls of a direct-to-consumer model. Residents access services through a mobile application, and have access to price incentives and conveniences that are a unique offering of their community. For example - want to make an impact on dog owners? Maybe pay for some of their dog walks!
4) It is attractive to service providers.
Most service providers are motivated by the desire to focus on their actual services, while focusing as little time and energy as possible on cultivating new customers. Amenify offers service providers a large pool of potential customers, as well as the convenience of having a pool of customers in close proximity to each other. As a result, providers pass on significant savings, without negatively impacting their own bottom line.
5) Market research is built in.
Consumer trends are ever-changing. Because Amenify is constantly acquiring feedback from consumers through their usage patterns, they are able to identify amenities and services that are in demand, and allow communities to rapidly add those services to their offerings. For example, on-site activities - such as cooking classes or wine-and-painting sessions - are offerings that have been identified and added due to their current popularity.
6) It offers a great alternative to old-school concessions.
Gift cards and cash concessions have become an ineffective way to attract new residents. Imagine being able to offer services - like monthly apartment cleaning, or personal training sessions, or six months of dog-walking - to potential residents, based on preferences expressed in the leasing process. Amenify makes it easy to offer these gifts, and to track their redemption.
7) It solves a pain point.
Ultimately, the best ideas come from reimagining and improving upon current practices, and applying technology to transform business. We love companies - like Amenify - that bring this kind of thinking to the multifamily industry, and we like to share their stories with you!
Note: Pynwheel’s Multifamily Blog strives to provide industry intelligence that is useful and interesting to apartment industry professionals. We did not receive any consideration - monetary or otherwise - from Amenify in exchange for this profile. If you know of a multifamily provider that you would like to see profiled, let us know!