TAMPA, Fla., July 29, 2020 /PRNewswire/ -- Valet Living, the only nationally recognized full-service amenities provider to the multifamily housing industry, is adding Orlando to its extensive full-service portfolio, providing local residents with amenity services including pet visits, fitness classes, package delivery, home cleans, laundry and more. While the Valet Living family includes 1.6 million homes across the country, the addition of the Orlando community propels the company's multi-service offering in 100,000 homes. Reaching that milestone in less than a year post-pilot makes Valet Living the fastest growing full-service amenities company in multifamily and secures its place as the largest amenity service provider in the country.
Residents at Urbon Apartment Homes in Orlando will now have the full spectrum of amenity service offerings at their fingertips through the Valet Living Home mobile app, where residents can use best-in-class technology to quickly connect with Valet Living's trusted W2 associates. Valet Living has found that offering amenities reliably increases resident retention. For example, a Tampa Valet Living community reported an 11% increase in resident retention over market standard last year.i
"We're thrilled to offer more of our amenity services to this community within the Orlando market to enhance the lives of residents, especially as they're spending more time at home," said Shawn Handrahan, CEO and President at Valet Living. "We're able to offer incredible value for our Orlando residents, as our amenity services help simplify their lives, and we're hoping to expand this service to even more residents before year's end."
The Orlando expansion announcement comes on the heels of Valet Living's acquisition of Florida-based Skinner Waste Solutions, illustrating the company's continued growth in-market over the past year. Valet Living plans to continue its expansion of amenity services within existing markets and into new markets across the country through the end of this year. According to CBRE,ii the Orlando multifamily market continues to be an investment juggernaut, and all signs point to continued local growth.
"We are excited about our partnership with Valet Living Home, which we believe will enhance our combined offerings, underscoring our continued commitment to delivering excellence in serving our Urbon residents," said Myrna Rodriguez, Community Manager of Urbon Apartment Homes. "Valet Living Home will heighten our residents' living experience by offering amazing services such as home cleaning, pet walking, dry cleaning pick up, and many more. We look forward to a long and successful partnership with Valet Living Home serving our many Urbon residents."
Twenty-five years ago, Valet Living pioneered the multifamily amenity service space and its continued innovation has built up an expansive network of 1.6 million homes across the United States as well as a reputation for the highest quality service. A few years ago, the company further expanded its amenity service offerings to include pet visits, virtual events, fitness classes, package delivery, home cleans, laundry and more. Due to Valet Living's commitment to setting the standard for the multifamily industry, 100,000 homes have adopted these additional amenity services with rapid increased growth every year.
The amenities space as a whole has seen unprecedented growth recently, as more multifamily residents expect top-tier amenity services from their communities and amenities prove to lead to resident retention. According to a recent NMHC/Kingsley Apartment report, 44% of residents say amenities are a major factor when choosing a new place to live and 21% report that they would leave because of amenitiesiii. According to a 2019 Valet Living internal satisfaction study, a sense of community is the second highest out of 27 factors from which residents rate their renewal decision.
From here, Valet Living is looking to expand existing amenity service offerings in markets including New York, Boston, Chicago and others. To learn more about Valet Living, please visit www.valetliving.com.
About Valet Living
Valet Living is the only nationally-recognized full-service amenities provider to the multifamily housing industry, performing more than 340 million events annually across 1.6 million apartment homes and 40 states. Through its Valet Living Home app-enabled resident amenity service offering and its doorstep waste & recycling collection, turns, maintenance and pet solutions, Valet Living is also the only company in the multifamily industry to combine doorstep waste and recycling collection with both sustainability-related and premium home-related services. Valet Living has been setting the standard for residential living since 1995 and is a portfolio company of the Private Equity Group of Ares Management, L.P. (NYSE:ARES) and Harvest Partners, LP.
i Based on Realpage market data 2019
ii CBRE 2020 Southeast US Real Estate Market Outlook - Orlando
iii 2020 NMHC/Kingsley Apartment Resident Preferences Report
SOURCE Valet Living