By the month
In the world of music, subscription streaming services have comprehensively taken over from downloadable MP3s during the past 3 years; a trend which reached maturity this year, as the big tech platforms refocus their business models. This is symptomatic of a much wider societal shift towards subscription business models. Of course, renting an office is already a subscription service (periodic income in consideration for the leasing of real estate) and as lease terms fall to include pay-per-month packages, real estate monetisation looks more and more like Netflix. The question for landlords is what else can be bundled into the service offering? When creating product bundles, a supplier is best to pose the question, what else does my customer need at the same point? Furniture is the easy and obvious answer. Last week Knotel responded to this need by launching its own subscription furniture offering, ‘Geometry’. Charged on a monthly basis, and using modular design elements, which include collapsible meeting rooms and phone booths, the operator claims to be able to fit out an office in less than an hour. Meanwhile, in the resi market, responding to the needs of digital nomads who work from city to city at short notice, flexible housing start-up ‘Anyplace’ has just received seed funding for its short-term furnished housing marketplace. As well as providing shorter than average furnished tenancies, it also procures longer than average hotel stays, securing preferential rates for those willing to commit to stays of a month.