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— Multifamily Properties Quarterly — November 2016

Celebrating 30 years of building relationships

and enhancing the value of real estate.

Property Management · Owner Representation · Development · Brokerage · Construction Management

CorumRealEstate.com

· 303.796.2000

3OYEARS

I

n today’s ultracompetitive

apartment market, where

increasing rental rates are

causing consumers to expect –

make that demand – the very

best for what they pay in monthly

rent, it’s imperative for property

management firms to provide the

highest level of service possible. To

do so, professional property manag-

ers are borrowing a page from the

hospitality industry and going the

extra mile to make sure that their

residents are being taken care of

and are happy in the place they

call “home.” By doing so, the team

is showing residents that they care

and creating a culture of longtime

residents who will be more willing to

renew their leases when their leases

comes due.

While amenities are obviously an

important component of any suc-

cessful apartment property, the staff

is what sets the tone for an enjoy-

able living situation. I’ve included

a list of some of the inherent ways

a property management team can

make an apartment community feel

more like a high-end hotel.

• Find the right people.

When hiring

a staff for an apartment community,

it’s imperative to find the right kind

of people: people who are willing

to go the extra mile and don’t view

their job simply as a 9-to-5 workday.

These professionals are driven to

succeed and are willing to grow with

the company. They base their suc-

cess on how happy their residents

are and, in turn, how successful the

property management company

becomes. The right personality type

can be taught the skills and nuances

of becoming a valu-

able contributor to

a property manage-

ment team.

• Training 101.

Finding the right

people is the first

step toward manag-

ing an apartment

community with

the feel of a high-

end hotel. The next

step is making sure

that the manage-

ment staff is well-

trained and ready

to provide the very

best level of service

to residents. This might involve a

weeklong course (but, in reality, the

training is ongoing), which includes

case studies of the hospitality indus-

try, interaction with residents, on-

site introductions, review of expecta-

tions, outline goals and shadowing

with existing staff.

• Personable interaction.

An apart-

ment community’s staff should

make it a priority to interact with

residents. This means getting to

know people’s names, learning

what their hobbies and passions

are, engaging them in conversation

if they like to talk, or giving them

their space and privacy if they are

introverted. This personal interaction

shows care and concern, and lets

residents know that the staff is there

for them on multiple levels.

• Host events.

One of the ways a

property management firm can

make an apartment community feel

like a home is by hosting weekly

events and making sure that the

staff is actively involved. Events

might include a Thursday night

happy hour with beer and wine, a

pumpkin carving contest, a potluck

holiday dinner, live music poolside,

a pool tournament, Broncos game

parties or even hiring a video-game

truck for residents with children.

The list is endless. Again, a key

component for a successful event is

to make sure the staff attends and

takes an active role in everyone’s fun

and enjoyment.

• Ensure a service-rich environment.

Many apartment communities pro-

vide on-site services, but it’s up to a

professional staff to make sure that

the services provided run smoothly.

For example, cleaning services, valet,

dry cleaning, concierge, package

delivery and more all can be imple-

mented, but execution is key. The

saying “actions speak louder than

words” is ultimately true when it

comes to an apartment community

delivering on its promise to provide

residents with a service-rich environ-

ment. If the staff falters, the provided

services won’t matter to the resi-

dents and might even alienate them.

• Survey residents.

Don’t hesitate

to gather your residents’ opinions

and hear their ideas. Find out what

they’d like to see in their community.

For example, if a community is pro-

viding fitness classes, you can dig a

little deeper and ask residents what

kind of classes they want (i.e., yoga,

Pilates, etc.) and what hours of the

day are best. A property manage-

Managers should take a page from hospitality

Tiffany Sweeney

Director of

property

management,

Confluence

Communities LLC,

Golden

Management

Confluence Communities

At Union West, the management team takes a page from the hospitality industry, mak-

ing customer service a focal point.

Please see ‘Sweeney,’ Page 29