Creating Beneficial Opportunities Between Management And Tenants

December 22, 2016 | Globe Street

Part 2 of 3

Owners must begin to think about the owner-resident relationship as a partnership that presents opportunities to create value for all concerned, say sources in a recent white paper.

In part one of this series, we wrote about how white paper titled: Share and Share Alike, written by DHR International partner Sayres Dudley along with Jaja Jackson, director of global multifamily housing partnerships at Airbnb, said that buyers are shopping for convenience on a budget, and farsighted sellers are finding ways to profit from this dynamic. In part two, we dive into more on evolving demographic factors and the role they plan in owner’s decisions to leverage their properties.

The report says that per the Pew Research Center and the New Jersey Institute of Technology and PwC Digital Services, 72% of Americans have used at least one kind of shared or on-demand service. And of that number, 86% believe that it makes life more affordable; 80% believe that it makes life more convenient and efficient; 78% believe it builds a stronger community; and 89% believe it is based on trust between providers and users.

The report notes that “Profit-driven owners would be well advised to take into consideration the changing demographics and priorities of renters in this new, dynamic, shared economy to create win/win scenarios for themselves and tenants. Owners must begin to think about the owner-resident relationship as a partnership that presents opportunities to create value for all concerned.”

The report says that services like Zipcar, Car2Go and Enterprise Carshare are continually seeking parking spaces in densely populated areas, and are eager to make deals with surprising partners. “Zipcar has rented parking spaces from a high school and a church in Williamsburg, VA. In 2011, the District of Columbia’s District Department of Transportation opened public parking spaces to bid, with a minimum of $3,600 per space, eliciting responses from Zipcar, Hertz, Daimler, and Enterprise.”

Even in smaller cities without robust public transportation systems or plentiful taxicabs, the report says, developers are recognizing that it is to their benefit to partner with car sharing services. “Gold Crown Properties in Kansas City, Missouri, for one, is redeveloping a historic hotel and bus station, the Pickwick, into market-rate rentals downtown and have contracted with Zipcar to have cars on the premises.”