The Future of Resident Amenities Friday, June 15 th, 2:00 pm 3:00 pm Sponsored by
Meet the Experts Victor Aguilar Tasha Krawiec Mario Bartels Shawn Handrahan Director of Operations VP of Property Operations Senior Consultant President and CEO Carbon Thompson BH Management Services Vivaldi Group Valet Living Multifamily Management Moderator
Top Community-wide and Unit-specific Amenities
Valet Living/Vivaldi Group Proprietary Research Vivaldi Group conducted voice of the resident research for Valet Living to: Gain understanding of residents expectations, desires and willingness to use specific tech-enabled amenity services Capture feedback on experiences, elements and features Establish a solid analytical foundation on which to make key decisions regarding the resident experience for the Valet Living Home mobile app Findings from the research drove decisions around which services would be included in the app. The data was also used as input into the creation of experience maps that describe the ideal resident experience for each service.
Survey Question: You will now see a list of amenity services. Please check all of the services you would consider using. Home cleaning Meal delivery Grocery shopping Dry cleaning Moving service Package reception Auto detailing Doorstep trash collection Pet walking Shuttle service Home organization In-home beauty In-home private chef Babysitting Small appliance lending Tutoring 69% 56% 55% 54% 47% 42% 39% 39% 37% 36% 26% 24% 21% 19% 13% 13% Valet Living/Vivaldi Group Proprietary Research
Key Findings Pet care has the biggest usage potential from a resident s perspective Home cleaning can work well as an anchor service Comfort with access to the home varies across services and age groups Offering a range of services on a single app is valuable Age has minimal impact on service usage and preferences Users willing to pay a premium showed greater comfort with allowing home access Valet Living/Vivaldi Group Proprietary Research
Demand across specific services Pet Care Dry Cleaning/ Laundry Home Cleaning Auto Detailing Packages Doorstep Trash Collection Consideration* 88% 66% 73% 74% 68% 69% Optimal Price $29 (60-min walk) $16 (5 shirts) $95 (3-hr clean) $40 (int./ext. wash) $12 (1 delivery) N/A Home Access** 83% 49% 70% 53% 29% 54% Frequency 60% would use it a few times a week 38% would use it once a week * I would consider using this service in the future **I feel either neutral or comfortable about it 34% would use it once a week 32% would use it a few times a month 47% would use it a few times a month 52% would use it a few times a week Valet Living/Vivaldi Group Proprietary Research
Acceptable Price Ranges Pet Care Dry Cleaning/ Laundry Home Cleaning Auto Detailing Packages $25 to $40 60-minute walk $14 to 21 Dry cleaning 5 shirts $76 to $105 3-hour home clean $32 to $54 Interior/ exterior wash $11 to $20 One-time delivery Valet Living/Vivaldi Group Proprietary Research
Likelihood of using an app offering multiple services was greater than the likelihood of using an app with only one service 88% 98% 95% 97% 98% 95% 93% Willingness to use 66% 73% 74% 60% 69% Pet Care Dry Cleaning/Laundry Home Cleaning Auto Detailing Service Packages Doorstep Trash Collection = respondents saw just one service = respondents saw a list of additional features Valet Living/Vivaldi Group Proprietary Research
Willingness and method of allowing home access differs across generations Gen Z Millennials Gen X Boomers Silent Generation (18-24 Yrs.) (25-33 Yrs.) (34-41 Yrs.) (42-49 Yrs.) (50-57 Yrs.) (58-65 Yrs.) (66+ Yrs.) Home Access 61% 60% 59% 56% 45% 29% 42% Electric Lock 48% 45% 42% 30% 39% 30% 20% Lock Box 34% 24% 37% 40% 35% 60% 40% Key Provided by Front Desk and/or Neighbors 18% 31% 22% 30% 26% 10% 40% Valet Living/Vivaldi Group Proprietary Research
Respondents willing to pay more for a service also generally feel more comfortable letting associates into their apartment homes 82% 84% 68% 72% Home Access 47% 56% 54% 53% 23% 40% Pet Care Dry Cleaning/Laundry Home Cleaning Auto Detailing Service Packages = Willing to pay a premium = Not willing to pay a premium Valet Living/Vivaldi Group Proprietary Research
How Are We Doing?
Contact Information Victor Aguilar Tasha Krawiec Mario Bartels Shawn Handrahan vaguilar@thompson-realty.com tkrawiec@bhmanagment.com mbartels@vivaldigroup.com shawn.handrahan@valetliving.com