‘What Renters Want’ with Jessica Fiur: How Exclusivity Could Attract More Residents

There is a park in Manhattan called Gramercy Park. You can only go in if you live in one of the surrounding buildings, which gets you the honor of a key to the park. But, so what, right? There are tons of other parks in the city. Like Central Park, which has a zoo and boat rentals and jogging paths and concerts, and is, of course, iconic. And there’s Madison Square Park, the home of the original Shake Shack, which has the most amazing burgers, fries and shakes. What’s in Gramercy Park? Just some trees and flowers and stuff. Who cares, right? Who even wants to go into that snooty park anyway?

I do. I totally do. And, come on, you know you do, too.

After all, why do you think clubs have doormen (like this one)? Or Hermes purses cost so much? Or there were only like five golden tickets to Willy Wonka’s chocolate factory? Because we want what we can’t have, and victory tastes sweeter, that’s why. (Especially when a chocolate river is involved.)

This is a pretty good business model for developers and property managers to aspire for, don’t you think? To offer their residents something coveted, something exclusive, something they could lord over their friends and family?

So, maybe your building doesn’t offer access to an exclusive park. There are tons of special things you could offer your residents that would make them feel like they just won the jackpot, and make everyone else clamor to get on your list for future openings.

Offer discounts to local restaurants or stores. Work out deals with local restaurants and shopping areas to get your residents discounts. They’ll get the business. Your residents will get bragging rights. And it costs you nothing. 

Make a deal with a local bar, movie theater, theme park, etc. for a special resident day. Maybe you can get an open bar for a few hours for your residents. Or a special movie screening for residents. Trust me, movies are awesome motivators. This summer my husband’s law firm was offering an advanced screening of The Dark Knight Rises. When I found out it was only open to associates, I seriously considered applying to law school. A theme park might allow residents to come in after hours one day so they have full access to the park with no lines. Nothing says status like “by invitation only.”

Screen releases in your screening room before they’re on Netflix. Yup, movies again. See if you can get access to popular movies before they come out on dvd. Throw a fancy cocktail party beforehand to up the posh factor. (Obviously, this is the posh factor.)

Have a building concierge service. Do your residents want to get tickets to a new show? Your concierge can get them. Recommendations to the best restaurants? He knows them all. George Clooney’s phone number? He…probably couldn’t get that. Worth a shot though.

What are some other exclusive items or events you could offer your residents?

-Jessica Fiur, News Editor

Photo credit: Svetlana Kuznetsova