Multi Housing is just the tip of the iceberg

Nick Jopling, Head of Residential at CB Richard Ellis:

I have been looking forward to attending the National Multi Housing Council Conference in Boca Raton Florida ever since the invitation to speak at the event arrived on my desk in September. Given that the idea of being in Florida in January would probably appeal to all of us, there was little sympathy from colleagues or clients for the gruelling schedule that my fellow Director Chris Lacey and I would be following over the next four days.

The NMHC conference is probably the largest gathering in the world of major players in the residential capital markets industry and the event is almost entirely focussed on the US multi-family housing market - think of an institutionally owned private rented sector. The panel I will be speaking on is entitled 'Opportunities in a Global Market’, which follows a session on why foreign capital is looking to invest in the US residential rented sector.

As anyone who has read some of my scribbles in the last three years will know, I am a passionate believer that it is time to bring the US multi-family housing model to the UK. Building purpose built residential stock will create a private rental offer in the UK that is built on scale and customer service, which is long overdue. We are talking a concierge who knows your name, drops and delivers your laundry to your door, in a building designed for its occupants. I do not accept that the service culture, so in bred in America, cannot work in the UK, let me explain how it feels.

Last night, we arrived at a heaving Miami International Terminal an hour late after every passenger from Heathrow had to endure a second security inspection that included the individual inspection of every item in our carry-on bags. We knew that we had to walk fast to catch the last train to Boca Raton, but where was the station?

We spotted an information stand close to an exit manned by Alfred, an elderly local, who informed us we had ten minutes to get to the station, which was four minutes away on the shuttle bus. The only problem was that the shuttle bus had just left and the next one would not arrive for another five minutes – ‘That's tight’ he said. Alfred decided it was too tight, so he abandoned his post to take us to the blue cab rank that serviced the airport. However, there were no blue cabs in sight - seven minutes to go.

In a scene reminiscent of the closing sequence of the Italian job, Alfred 'had an idea'. Before we could ask what this idea was, Alfred had flagged down a rental car shuttle bus and was asking the driver if he would take these two Englishmen to the station so that they didn't miss their train. 'Sure' said Danny with a voice that could spot a good tip at a 100 yards, and off we went - six minutes to go.

Thanks to Alfred, Danny and that American service culture we made the train with one minute to spare - now wouldn't it be nice if we could bring a bit of that experience to London?