After a 15-month delay due to COVID-19, Bisnow’s BTRAC event welcomed hundreds of industry professionals. Held at Wembley Stadium on 23rd September, the event featured engaging panels including an inspiring discussion about community engagement and mental well-being.
Chaired by Chotip Arora of Fossey Arora, the panel was made up of Steven Osei, head of brand experience and partnerships at Get Living, Sowgal Zarinchang, managing director at Way of Life, Charlotte Robertson, associate and BTR leader of AGC and Georgie Drewery, account executive of Yardi.
Arora opened the session by asking the panellists their opinion on how to achieve mental well-being. “Well-being is much more than just mental, we also need to consider physical well-being and social well-being,” commented Drewery.
Osei added that at Get Living, they have recently conducted a piece of research to better understand their residents, “The insights highlighted micro-trends that have evolved over the last 18 months which made us take a step back and relook at what ‘home’ means. It’s no longer just a place where we sleep; it became a place of worship, a gym, an office, a nursery. As a result of the research, we learnt that our residents want safety, security and a sense of belonging.”
Design with well-being in mind
Arora asked Robertson, “As designers, how does AGC get into the psyche of residents to improve their well-being?”
“We love doing research about who the tenants are, why they like to live there, what they do etc. We undertook a social media campaign to identify which brands and styles our residents like so that we can include them in our designs – those final touches really make spaces feel like home,” explained Robertson.
The discussion revealed that aesthetics help engage residents, but the panel also agreed that spaces and rooms should be designed to be multi-functional. Osei explained that Get Living have recently designed a 3000sqft creative hub in East Village that includes retail, workspace and art installations to offer residents a mixed-use space to collaborate with other like-minded individuals.
Drewery added that residents are more likely to get involved in community events when it’s what they want to get involved in. She explained that operators can utilise a mobile app to discover what their residents like and dislike to encourage high uptake of events.
The “Buzz Word”: ESG
ESG was mentioned in almost every panel discussion at BTRAC, although Zarinchang argued that, although it is important, residents are more likely to stay with you if you are loyal, trustworthy and knowledgeable as an operator over your ESG ratings. “For us, we need to be flexible in terms of efficiency gaining. When it comes to ESG, we hope that our investors will look at value per square meter rather than price per square meter. This is not a transaction, this is someone’s living experience,” continued Zarinchang.
Arora posed the question whether residents can create community in an online environment or whether community forms best in person. Osei said that Get Living has learnt that their residents live with them physically but also digitally, “Digital platforms enable our residents to connect across our different neighbourhoods.”
Arora asked Osei if he thought physical community space could be reduced to allow for a bigger focus on online communities. Osei answered, “Potentially, but it’s not about reducing the space, it’s about repurposing the use of the space to maintain the community excitement and brand advocacy.”
Tech-Enhanced Experiences
Drewery explained that resident app technology “supercharges” living experiences. She gave a Yardi client example of how 90% of Get Living’s maintenance requests in lockdown were reported through their resident app. Osei agreed and added to this sentiment by explaining the leasing experience for their residents is now mostly done online, explaining that customers now have the utmost confidence in viewing properties online without even visiting the apartment.
To understand and support your residents, you need to get to know them. With the help of a resident app, you can discover your tenants’ interests, improve communication and provide a better community, which will help your residents’ mental, physical and social well-being.