by Apartments on the Go
Facets of the hospitality industry are increasingly penetrating multifamily business models, with flexible living options and lengths of stay growing in demand. During a recent Apartments on the Go podcast, Sentral Vice President of Asset Management and Transition, Julie Butler, sat down with hosts Matt Ruedlinger and Courtney Smith to discuss Sentral’s revolutionary approach to property management.
Butler said after years in a traditional multifamily setting, she grew tired of the continued refusal to meet renter demands for flexibility, particularly given the potential boost to asset performance. In contrast, Sentral communities offer furnished or unfurnished homes for any length of stay.
“A lot of people think only millennials will be interested (in flexible living). But times are changing,” Butler said. “Whether you’re a guest or a long-term resident, you want a seamless experience. We offer flexibility and convenience, as well as a 10% NOI lift, and it’s more like 20% for revenue. There are other management companies with different versions, but what sets us apart is our flexible length of stay.”
Butler said meeting renter demands – whether it’s a pet-friendly environment, community events that foster true connections, or the option to bring their family with them on work trips – is Sentral’s primary focus.
“Residents aren’t just looking for those four walls. They want some kind of connection, and they want more control,” said Butler, who noted that many Sentral communities have elite reputation scores as a result of their commitment to current renter preferences. “Once you start listening and making some natural changes, you see that shift to the positive. You can’t assume what people want.”
Listen to Julie Butler’s podcast on Apartments on the Go.