Why Empowering Residential Communities Matters Today More Than Ever

  • 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.
  • Urbanisation — younger generations are still keen to live in the cities as they promise a better lifestyle, convenience, and opportunity. Even Covid-19 has not changed this thinking.
  • Rising rents — with more and more people moving into the cities, rents have skyrocketed, causing difficulties for many to afford housing, increasing the need for new living concepts that reduce costs without sacrificing the quality of life.
  • Sustainability — While the world population keeps increasing, the space we have available is finite. This means that we need to rethink living concepts and find ways to reduce the resources needed to house all of us.
  • Remote first lifestyle — Pre-2020, it was primarily the millennials and Gen-Z that were used to having the world at their fingertips; Covid-19 has turned this expectation from a niche into mainstream, as remote and digital-first has become the norm of how people live and work today, and in the foreseeable future
  • Mental health and well-being — Urban loneliness is on the rise and for the first time ever it is, in particular, the younger people that feel most lonely across all age brackets. Creating opportunities for them to socialise as part of a community needs to start at the grassroots levels i.e where they live and work.

The future of residential is social

  • 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.
  • Social well-being — empowering your residents to get to know each other better, and connect with each other will result in an improved sense of community across the building/neighbourhood, and improve the quality of life and mental well-being of its residents. Helping your residents be better rooted within their surroundings will also increase their satisfaction and improve their retention rate.
  • Economies of scale — Last but not least, focusing on building residential communities also has a direct impact on your bottom line: by making more common areas available you can reduce the private space needed, improving the profitability of your operations. A strong community drives down your cost of acquisition as retention and word of mouth will increase, and also decreases operating costs through reduced maintenance needs as your residents start to care more about the space they call home.

And the beauty of all this?

  • 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.
  • About Obeyo: Obeyo is the first all-in-one operating system and community app for residential living built around the learnings from 100+ shared living operators.

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

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Michael Steinmann

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.

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