How To Choose Amenities Part 5 - Package Delivery

The Real Estate Espresso Podcast

How To Choose Amenities Part 5 – Package Delivery

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How To Choose Amenities Part 5 – Package Delivery

Welcome to the Real Estate Espresso podcast, your morning shot of what is new in the world of real estate investing. I’m your host, Victor Menasce.

Last week, we started a mini-series on amenities. The deep dive into amenities was based on the outstanding work of apartment operator Greystar, the largest operator of apartments in the US, with over 100,000 apartments in their portfolio.

We are working with Greystar on our own project. It’s an active adult project located in Spokane, Washington. If you want to learn more about that amazing project, come and register on our portal at ystreetkapital.com. Go to the Investor page and click on Create an Account. We promise we are not going to spam you. We’ll have more to share about the actual project. This is not a solicitation for an investment, and of course any investment would be by prospectus only in compliance with SEC regulations.

We spoke last week about technology, storage, coworking space, outdoor amenities, kitchens, and security. Today we’re talking about packages. Not financing packages or incentive packages, but literally the boxes that show up at the front door every single day, what they’re quietly telling us about resident behavior, operational risk, capital allocation in specifically multifamily real estate.

The data comes from Greystar’s 2024 design survey, specifically focused on process package delivery and handling inside apartment communities. It seems like a narrow operational topic, but as with many things in real estate, once you zoom out, you reveal something much bigger about how people live and what they value.

Let’s start with the obvious shift: e-commerce is no longer just a trend, it’s infrastructure. What’s interesting in the data is not that packages matter, but how residents want them handled and, just as importantly, that they do not want to pay extra for those deliveries.

According to the survey, 80% of respondents believed that communities already have enough package lockers. That’s an important baseline. It tells us that, broadly speaking, the industry’s caught up to the first wave of demand. Package lockers are no longer a differentiator; they’re table stakes. But table stakes still need to be executed correctly.

76% of respondents said that on-site, 24/7 secure, self-service pickups such as lockers or a package room is an acceptable delivery option. 62% are comfortable with the packages being left at their door. Only 9% favored an app-enabled, on-demand delivery service that requires a monthly fee.

That last number should jump out at you. Developers and operators are constantly pitched new PropTech solutions that promise to solve package management. Many of them involve subscriptions, apps, and layered services. The data is telling us very clearly that residents do not want another monthly fee for something they already believe should be included.

This is a classic example of confusing operational convenience for the operator with perceived value for the resident. From an investor’s standpoint, it matters. If you’re underwriting a new development or major renovation, you need to be very cautious about layering in recurring costs that don’t translate into rent premiums or retention. 9% adoption is not a business case.

Now, let’s also talk about cold storage. 47% of respondents said the package area needs to have cold storage available. 60% said it does not. It’s a fascinating split. Cold storage reflects the rise of grocery delivery, meal kits, and perishable goods arriving at the property. But 40% is not quite a mandate. It’s a signal. In certain sub-markets, particularly urban, high-income, or time-constrained renter profiles, cold storage might become a competitive advantage. In other markets, it’s an unnecessary capital and operating expense.

This is where blanket design standards fail. As developers, we need to resist the temptation to standardize every amenity across every project. Amenities should be designed around specific resident avatars that you’re serving, not around what looks good in a marketing brochure.

Let’s look at the outbound packages, something that’s often overlooked. 69% of respondents said the ability to send packages directly from their community is at least somewhat important. 8% said it’s absolutely essential, and 22% said it’s very important.

That tells us something subtle but important. Residents are increasingly seeing their home as a logistics hub, not just a place to receive goods, but a place from which to send them. Returns, resale, remote work shipping, side hustles, all of these are becoming part of daily life. A simple, outgoing package solution doesn’t need to be fancy, but ignoring it means friction in the resident experience. And friction over time translates into turnover.

What’s consistent across all the data is a theme we see again and again. Residents value simplicity, security, and inclusion. They want systems that work, that are available when they need them, and don’t nickel and dime them. They’re happy with self-service. They’re comfortable with door delivery. They’re not enthusiastic about paid add-ons.

From a design and capital perspective, the implications are clear. Spend the money on durable, flexible infrastructure: secure package rooms, adequate locker capacity, good lighting, cameras, access controls. These are one-time capital investments that reduce operational headaches and improve resident satisfaction.

Be very careful with recurring-cost solutions that require resident buy-in to justify their existence. Keep options low, or you’ll either eat the cost or you’ll frustrate the residents. Don’t over-design for edge cases. Cold storage, premium delivery services, advanced automation might make sense in specific markets, but they’re not a universal requirement.

The job of the developer is not to chase every emerging trend. The job is to allocate capital where it produces the highest risk-adjusted return. Packages might seem mundane, but they’re a perfect example of how operational details compound for long-term performance.

As you think about that, have an awesome rest of your day, and we’ll talk to you again tomorrow.

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