Rental Property Investor · Sacramento, CA · Member since 2011 · 2k+ posts · 1k+ votes
PDAs weren't good enough for Mr. Jobs, he had to go create an iPhone (which many of us now can't live without). He was relentless about trying to give the user the best possible experience. I wonder how he would reinvent a multifamily apartment. Would he call it iHousing?
He might make it simpler - utilities included for sure. But what else would he integrate? What would an "ap" for an apartment unit look like?
It would be all new construction. He would not rehab an old building to try and make it work, he would start from scratch. The overall design and function of the housing would be simple, elegant, and purposeful. It would be solid and well built, no gimmicks, with only options that added value. Materials would be sourced from vendors according to strict specifications. Enough variance would be available so each unit could be personalized prior to move in. Once occupied, services/changes from approved vendors would be available to further personalize each apartment.
Everything would be set up and monitor by apps. He would create apps for his tenants and would have all their needs on there. Payments would be made through these. Live support on there. You name it. They got it.
Apartment apps could be an interesting tool. Could do a few items:
Pay rent online
Autosign a new lease
Reserve common areas via the app
Input maintenance requests
Apt managers could push out rent reminders
Apt managers could also push out messages property wide w/o having to paper all doors
Good way to track and submit referrals
How about an app that gives the tenant discounts on services (dry cleaning, restaurants, banking, etc) provided by local businesses, or maybe additional services provided by landlord that would help increase their Other Income?
I was playing with the "app" definition - I call it an optional, one-stop service that helps you accomplish a task faster, cheaper, or more effeciently (for a small monthly fee). With this in mind, I see BP'er have offerred some apps for tenants and some for property managers.
Those apps would operate a simple, intuitively apartment or private space.
Its a rather bulky power strip that monitors appliance power consumption via smartphone app and also allows you to turn them on and off. My guess is there are a host of apps and/or services available or in the works that do the same.
How about moveable walls that could shrink tenant space when you were away (giving them a credit) and enlarge their space when they had a family function (debiting their account). This movable smart wall might also have a LED screen built in to display pictures, TV feeds, or your latest social media discussion.
It would be all new construction. He would not rehab an old building to try and make it work, he would start from scratch. The overall design and function of the housing would be simple, elegant, and purposeful. It would be solid and well built, no gimmicks, with only options that added value. Materials would be sourced from vendors according to strict specifications. Enough variance would be available so each unit could be personalized prior to move in. Once occupied, services/changes from approved vendors would be available to further personalize each apartment.
It would be all new construction. He would not rehab an old building to try and make it work, he would start from scratch. The overall design and function of the housing would be simple, elegant, and purposeful. It would be solid and well built, no gimmicks, with only options that added value. Materials would be sourced from vendors according to strict specifications. Enough variance would be available so each unit could be personalized prior to move in. Once occupied, services/changes from approved vendors would be available to further personalize each apartment.
He would then maximize profits by building the houses in China and then shipping them here combined with a massive marketing campaign to convince the public that not only are his houses pretty nice, but they make you a little hipper than what you once were. So people would pay even more for the nice houses than what they are actually worth. The attic vents would be in the shape of the Apple logo so all your neighbors would know that you are cool. Since your house would be constructed of all glass siding, durable non-glass siding would be available for an extra charge. There would be proprietary electrical outlets in the house that are a little sleeker and cooler than the standard plugs found in the typical home, but you have to pay extra for adapters to plug in your non Apple stuff.
Joshua Dorkin thanks for the link. Each of those transformations are apps. The video ties down what Robert R. was getting -"options that added value", "each unit could be personalized". My head's a'buzzing now.
And Brian Hoyt you hinted iHousing would have to be hip, well-branded, utilize daylighting, and have upsell potential. I'm adding those elements to my list.
The location would be secret, as would the name of the maintenance staff and suppliers.
You would have no idea when an apartment became available until the last possible minute, though there'd be lots of speculation and rumor.
Rents would be exorbitant and well above the prevailing market.
No matter, because it would be spectacularly beautiful (in either black or white) and everyone of course would want in, signing a lease they didn't read and giving the landlord unimaginable rights over tenant privacy.
Visitors would have to be approved by Apple.
Want to move out early? Trust me, you couldn't afford it.
I sense some anti-apple sentiment in some responses. I'm no apple fan boy. I have only owned one apple product, my 11" mac book air. The price was not low, but it is the best computer I have ever owned.
I think Steve Jobs and his approach with his turnaround of Apple during his second stint as CEO is best summed up in the link below. If any landlord approaches his real estate business with the same attitude, they are bound for success.
....did anyone mention iHousing 2 available at month 12 rendering prior version (and initial investment) obsolete but only providing marginal improvement?
One of things I would like to see is an app that shuts off all electricity/appliances at night, and when no one else is home.
There is a company called Control4 (I think) that has a system that allows you to control your entire home from practically any device with an internet connection. You can also set up groups for certain times of the day, occasions, etc. A local rep for a networking company getting into this technology walked me through a new home they used for "show and sell." One of his presets, as a joke, was called "Get Busy." From his phone, he selected it. The lights went down, the cieling fans kicked onto high and the AC thermostadt went down to 68 and the surround sound came on and started playing "I wanna sex you up," by Color Me Bad! LOL! I fell out laughing!
It's incredible and is really just basic networking and electrical components with WiFi connectivity. If it is connected to a switch, an outlet, or your electrical panel, you can control it, along with anything else that has a remote already.
http://www.control4.com/residential/products/
There are more than a few videos on YouTube as well.
Steve Job's lived in a modest house, in a regular neighborhood -- no gates or anything. I literally walked to his house one day.
If he had been into real estate, he probably would have built a smart house -- something similar to the "smart dorm" build by the Berkeley kid.
One of things I would like to see is an app that shuts off all electricity/appliances at night, and when no one else is home.
Energy / appliances is already here with home automation as other posters have noted, but it will really show up in a big way once utilities upgrade to smart grid and replace all of their meters. It's going to be a fascinating transition to see how that is combined with app technology ( or whatever technology is popular at the time. )
To Summarize: Mike Jakobczak, Steve K Mike Denham suggest iHousing would have apps to make tenant move in or landlording easier. Garrett Yamasaki Dave Meyer suggested iHousing needed to address phantom power issues.
Tod R. chimed in saying the apps needed to help tenants save money on neighborhood services or help owner make additional income.
Joshua Dorkin found a nice vid to go with my suggestion of a huge iPad wall that could slide between units to create or decrease functionality for a price. Maybe late paying tenants would have their apts squished :)
Robert R. introduce the idea that iHousing need to be high quality, something we would personally recommend, and a strong value offering.
My follow up question would be - How could iHousing improve family life? Could it help distant grandparents feel like they were living in the same space with grandkids? How could iHousing make home life and relaxation more enjoyable.
I have a 89 yr old father who lives by himself. I would love for iHousing to monitor his body temperature, blood pressure, and vitals. We sure would worry less.
It should also allow him to "see" or "share a table" with his best friend and video conference with other iHousing residents.
Maybe, like a watered down holodeck, the walls could show real-time images of a campground near a lake or a outdoor mall in France. The ultimate people watching device.
These things are doable now with our current technology - just not integrated into an apartment yet.
Tod R. - I learned about a company offering a way for you to get discounts for your tenants. It is called Purqz, they offer discounts at lots of places nationwide. I haven't signed up, but it may be worth checking into.
Tod R. - I learned about a company offering a way for you to get discounts for your tenants. It is called Purqz, they offer discounts at lots of places nationwide. I haven't signed up, but it may be worth checking into.
I'll check it out.
I told Al Williamson that as soon as I posted my previous posting, I reallized I just described the Passbook(I giant coupon book that you buy for about $30). Everything old is new again!
Al Williamson you're not the only one who wants these smart homes with their parents or young ones in mind. And no offence to Steve, may he RIP, but the Japanese have been working on this for quite some time ;)
Such a creative post from you Al Williamson. =) It makes me ponder how would a genius such as Steve Jobs conceptualize a home of the future. Well, most definitely he would consider making the house very high-tech yet simplistic in appearance which brings out the style in itself much like the other Apple Products. Great Post!
Kevin Olmedo I whole heartily agree - Jobs was brilliantly simple. I'm spending the week pretending to be Steve Jobs and trying to reinvent landlording. One characteristic that he had that is in direct opposition to landlording conventional wisdom is his obsession with improving the user's experience (not shareholder profits).
This is a stretch even for me - Mr. Optimistic-Unrealistic. I greatly appreciated my BP family's help in this brainstorm session. It's already helping me discover some concepts that might be useful to every buy and hold landlord. I'll share a summary of harvested ideas on Friday.
Just wanted to follow up on some conclusions from my thinking experiment. It was difficult trying to project Steve Job's views without my own bias sneaking in. I need to read more about him to better play the part. That being said, I'm pretty moved by the passion people feel for or against the Apple brand. Extracting lessons from both camps would be very instructive - but for the sake of time - let's only consider his fans.
His fans believe Jobs cared about them and are more than happy to be apart of his tribe. Since I'm in the multifamily biz, I would want my residents/tenants to feel more passionate about where they live.
I think building brand loyalty would be a part of iHousing. We landlords call it tenant retention. What's your most effective retention tactic?