Could ‘Living As A Service’ Be The Future Of The Apartment Business?
The fundamental demographics of the U.S. apartment renter — the age and income of typical tenants — have changed dramatically in recent years. But the business model underpinning the multifamily industry hasn’t.
Most apartment tenants must commit to a 12-month lease, buy their own furniture and pay for electricity, WiFi and other necessary services separately from their rent. If they want to move, they need to haul that furniture to their new place and sign up for utilities again in their new building. And if life circumstances require them to relocate before their lease is up, they must pay up to move out.
But this longstanding model of apartment leasing…
