What the Data Says

As a result of Pandemic life, these conveniences and the integration of good design and technology are now among the most sought-after amenities in today’s market. For property owners, investing in smart and well-designed building technology can improve property attractiveness and tenant retention. For residents, living in one of these buildings can result in a greater peace of mind, wealth of time savings and numerous psychological benefits overall.

The past year has seen more activities take place in the home than ever. This is not limited to the clear surge in remote work; between March and October, market research company the NPD Group reported that health and fitness equipment revenue had more than doubled to $2.3 billion, with stationary bike sales nearly tripling. Streaming services such as Amazon Prime Video saw a 70% increase in streaming hours over the year. Combined with the challenges facing the tourism industry–which is not expected to return to 2019 levels until 2023–it cannot be argued people’s living spaces play an unprecedented role in their lives today.

What The Numbers Mean

It is crucial for building owners to look closely at the trends this data represents. In addition to understanding that more residents are spending time at home, it’s important to note their preferred activities and lifestyles in order to anticipate residents’ ever-evolving sophisticated needs. As an example, the surge in stationary bike and treadmills sales indicate that prospective tenants are actively seeking apartments that have enough space to accommodate home workouts and on-demand fitness equipment. The massive increase in streaming hours can reasonably be assumed to mean that more people are staying indoors and therefore likely to be ordering food. This in mind, it stands to reason that building owners can make their properties more attractive by investing in buildings that promote and facilitate these lifestyle routines.

The broader takeaway from this data is that prospective tenants are actively seeking contactless experiences. This is evidenced as early as the touring process itself, with 34% of renters indicating that they looked for more virtual tours last year. This desire for responsible distancing does not dissipate once leases have been signed. Providing access to smart building technology allows property owners to promise residents the lifestyle and coveted peace of mind they seek.

Wide-Reaching Benefits

For residents, smart building design means more than simply having more room for activities and equipment. Buildings that utilize services like Alfred allow residents to have their groceries delivered and refrigerators stocked while they aren’t home, or have a trained professional clean their apartments on a set schedule. Alfred can also schedule prescription deliveries, walk pets, ship packages, take care of dry cleaning, and many other special requests. This unique home management strategy results in residents enjoying an ease of living that is virtually unattainable without regularly spending a small fortune. Further, it creates opportunities for a responsible, contactless experience that promotes peace of mind and mental wellness.

This emphasis on mental health is a critical byproduct of the services Alfred provides. While spending more time at home can be comfortable, the stresses of maintaining an apartment can easily lead to feeling overworked, anxious and depressed. In some instances, these effects can be damaging to residents’ personal relationships or careers. Buildings equipped with Alfred have the potential to nullify these effects and foster a mental clarity that boosts productivity, positively impacts relationships, eliminates clutter and generally makes life easier.

Even once pandemic life is behind us, it has brought about long-lasting effects that impact how we live and where we choose to do so. For building owners, these trends must be acknowledged and acted upon in order to give residents what they want. Residents should similarly remain cognizant of how their prospective new buildings are designed. Lifestyle management offerings like Alfred, easily delivered through integrated technology like an iPhone app, present unique and far-reaching methods of improving daily life, promoting responsible and contactless experiences, and overall promoting positive mental health.