Convenience is perhaps the most in-demand for urban dwellers today. For renters with long work hours and constant travel, they’re left with little time for household chores. Landlords are starting to notice.
Last week, another huge merger took place. Multi-family developer Related Companies announced its partnership with Hello Alfred to provide butler-like services to residents in its 11,000 luxury rental units. For related, this is just a dip in the pond, seeing as it boasts about 67,000 apartments, including the gigantic Hudson Yards.
As part of residents’ monthly rent, grocery delivery, online shopping returns, and weekly tidying are included. In Related’s midtown Manhattan tower MiMA, rental rates for one studio start at $3,570 and $6,070 can get you a two-bedroom, two-bath.
But the trend of convenience spans far beyond partnerships similar to this. Fully-furnished luxury co-living spaces have been on the rise. Companies like Ollie and Roam have been taking the space by storm. Even co-working top dog WeWork has a foot in the door with its short-term, flexible apartment leases via WeLive. Private room, shared living rooms and kitchens. New concept? No. But it has evolved into much more of a luxury of necessity. And it’s still evolving.
Last month, IKEA’s innovation lab Space10 launched its website to help “revamp” co-living. No, the furnishing company hasn’t introduced these shared living spaces just yet. The project is a collaboration between Space10 and Brooklyn design firm Anton & Irene which hopes to plan for the perfect co-living space…to be launched in 2030. It aims to address current issues like affordability, loneliness and urbanization.
Even hospitality and hotel brands such as Four Seasons and the Ritz Carlton have introduced a large sum of branded residences. These include hotel perks like housekeeping and in-residence dining. Extended-stay hotel brand Roost Apartment Hotel, operated by Method Co., recently announced that it will be leasing five floors of a 23-story mixed-use tower in Philadelphia’s new Center City Market East area.
For Related, the partnership with Hello Alfred will help the company test an overgrowing trend in housing. For the three-year-old company Hello Alfred, the risk is much higher. The startup originally started out selling services directly to consumers at affordable rates. Just this year, the company jumped over to a B2B model, meaning it limits its services only to residents of partner buildings. Either way, expect for tech partnerships with large multifamily landlords. After all, convenience really is the hottest amenity of today.