Why Empowering Residential Communities Matters Today More Than Ever

We live in unprecedented times. And here I am not talking about the pandemic. What I am talking about is us witnessing mega industrial sectors shift faster than anyone had ever thought possible. Real estate is one such industry. Traditionally, real estate has been relatively slow in adopting innovation. Today however it is now going through a big innovation wave as residential needs have shifted significantly over the past 18 months: Instead of just looking for a roof above their heads, today, residents are expecting hassle-free, convenient, and emotionally enriching living experiences.

While this evolution in residential demand has been a few years in the making, the following recent trends have further accelerated this:

  • Change in needs — the younger generations have different expectations of what living should look like. They believe in access over ownership, are happy to share resources, highly value flexibility, and are seeking out positive communal experiences.

The future of residential is social

Against this background, we believe that residential communities are offering enormous amounts of untapped potential for social wellbeing, service-sharing, and economies of scale. Not only are residential communities ideally positioned to respond and take advantage of the trends and challenges above, doubling down on empowering residential communities also unleashes additional benefits for operators and their residents alike:

  • Shared services — Strengthening your residential community will also enable you to offer additional shared services that could even unlock auxiliary revenue streams (think co-working, common rooms, mobility services, etc) while also improving the quality of life for your residents.

And the beauty of all this?

Focusing on unleashing residential communities done right will in itself become a key for your growth, and can be seen as a reflection of the value and quality of the product you are creating. Additionally, it also kicks off a virtuous circle by increasing retention rates and word-of-mouth publicity while also reducing acquisition, maintenance, and operational costs, empowering you to make your community the driver of your business’ growth.

How to build residential communities the right way is however a whole other ball game. Keep reading about the 7 secrets of building engaged residential communities that we uncovered by speaking to 100 different thought leaders in this space to dive deeper into the practicalities of building strong residential communities.

And of course, if you are committed to bringing your residential community to start, but don’t know where to start, feel free to connect with me. At Obeyo, we are always happy to help.

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  • About Michael: Michael is co-founder and CEO at Obeyo. Passionate about connecting people, he loves to explore ideas at the intersection between community, shared-living, and technology. Feel free to connect with him on LinkedIn.

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Michael Steinmann

Co-Founder and CEO at Obeyo | Passionate about creating and scaling start-ups/scale-ups in the prop-tech and ed-tech space.