Tech helps to make the BTR product more than just assets

Technology is being used to add value and functionality to real estate and, in the case of Copenhagen’s Alfa Development, is being used to make the build-to-rent concept work more effectively.

The company’s director of living concepts, Jack Renteria, said that build-to-rent is a new idea in Denmark and when Alfa wanted an app it examined the features that were most wanted by customers.

“It all pointed towards community, towards getting to know neighbours better, being able to attend events, having services and activities available to them,” he told Real Asset Insight’s Richard Betts.

“When I think about the building I live in, it’s pretty much taken me 10 years to get to know my neighbours, whereas the customers in our build-to-rent community got to know each other within 10 minutes.

“They could see that there was a wine tasting, or that there was a painting session or an exercise session and signed up and were able to come and join very quickly,” Renteria said. “I can definitely see that it is facilitating the whole customer journey and experience.”

He added that the company is not creating a one-size-fits-all product.

“Our buildings are not just assets, they are products that are custom designed, tailored towards the needs of our customers,” he said.

“We are looking at personas: what are their pain points? What are the things that that make their daily lives challenging? Then we are looking at what the solutions are that we can provide for those pain points to make things easier and nicer.”

However, he added that technology is used differently depending on the user’s demographic, both on the customer and the management side. “I think we’re going to end up seeing that the technology becomes much more focused, much more specific in terms of what it can do and what it should be doing.”

Please click on the video above to watch the full interview or listen to the podcast below.