Property developers, owners and landlords recognize there’s one sure way to wow tenants: Bolster the prestige of your property with the ultimate in amenity offerings. No longer will tenants accept a dingy weight room or a sad, basic pool. Today, properties know they need to add resort-quality spa and fitness facilities, along with unconventional offerings like bowling alleys, rock climbing walls and chef-ready kitchens to appeal to a sophisticated high-end New York clientele.

However, excelling in the amenities race is just one way that buildings spur retention and loyalty. Today, residents also want a sense of community. New York City-based luxury lifestyle operator and consulting firm Elite Amenity Management is finding success for its clients on both fronts.

Pivoting to adapt to new needs

Andrew Meditz and Michael Zuchelli founded Elite Amenity Management in 2006 to meet growing demand from property owners who were increasingly realizing the necessity of leveling up their facilities. “Buildings didn’t have the glitz and glamour they have now,” says Meditz. “They might have carved out a ‘workout’ room in a former storage area or put up a pool table and called it good.”

Yet as tenants’ expectations grew and the industry evolved so did the pressure to provide more luxurious offerings. Finding the right mix of amenities, combined with space planning demands, often fell outside the owners’ expertise. That’s where the Elite Amenity team saw an opportunity to grow their business by assuming the entire function. They will consult with a developer at the conception stage or a building owner who’s reimagining an existing property to help them identify the right enhancements for their target demographic. Then they can offer counsel on how to allocate their space effectively to maximize value; provide insight into the health regulations, ongoing costs and other factors that drive feasibility; and finally, if needed, hire and oversee the requisite staff or even provide management and operational services themselves.

While many building owners want to build beautiful rooms like libraries or salons that might only be used for the annual holiday party, no one can afford to have areas that aren’t utilized to their capacity. “With space at such a premium, we advise buildings on additional programmings like a pasta-making class or weekly yoga sessions that can bring extra rooms to life regularly,” Zuchelli says.

Given their insiders’ view into the amenity landscape, Meditz and Zuchelli began to recognize an additional gap in the market that has led to an evolving scope of work. Today it’s about more than just having the right physical amenities; buildings of all sizes seek to create a unique culture and community that will attract residents.

“We were receiving an abundance of calls for events and activities as property owners discovered the power of engaging their residents more actively,” Meditz says. Now Elite Amenity Management helps curate the ideal lifestyle experiences for each property: from paint-and-sip classes, rooftop jazz nights, holiday- themed events and much more.

Building bonds promote tenant retention

In this post-pandemic world, society longs to rekindle relationships. Fostering a welcoming community within the four walls of a property is an effective way to increase retention.

“Landlords are realizing tenants are more likely to re-sign a lease if they’ve bonded with another couple they met at the holiday party, or their kids or even pets have become best buds after the Halloween parade,” Zuchelli points out. “A major reason you renew your lease is because of the relationships you’ve formed. We create that lifestyle that allows residents to interact and find their people.” That in turn results in retention for the building because feeling connected means a customer is far less likely to go searching to find a marginally better deal across the street.

Pivoting to adapt to new needs

Building bonds promote tenant retention

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