Page 20 — Property Management Quarterly — April 2020 Multifamily Highlight A surge in new con- struction of multifam- ily properties in the Denver metro area has introduced some of the highest-quality apart- ment buildings and properties ever seen in the local market. These high-profile properties are in prime locations, provide residents with units that boast the best designs and finishes and are amenity rich with resort-like pool decks, fitness centers, theaters, tremendous views and more. And, as a result, these outstanding new properties are asking for – and receiving – rents that are well over $3 per square foot. With these very high stan- dards in mind, along with residents who demand the best for their money, the management teammust be able to provide specialized ser- vices on multiple fronts.They can’t pos- sibly take a “generalist” approach with their manage- ment style, where they have an opportunity to “be all things to all people.” Rather, it’s impera- tive for the entire team to be specialists at what they do and excel at providing the very best service and attention to detail one teammember at a time. Some of the measures of a successful team of specialists include: n Hiring and retaining the best. It’s more easily said than done but hiring and retaining the very best employees – who not only understand the service and hospitality industry but excel in it – is catamount to fielding a team of specialists. From the very first interview until the time an employee is thriving in her position, the person must have a mindset of contributing to a culture of service. In some instances, property management compa- nies will require that new job candidates take profile tests, so that personality types can be properly aligned and maxi- mize the level of communica- tion, cooperation and service by the entire team. A company can train an employee to man- age the finances or clean the hallways but they can’t train someone to care, which is a characteristic that is innate. With the best possible team in place, the property manage- ment company builds on the culture by enriching the lives of their employees with out- standing compensation pack- ages and a place that people want to work. After all, the team is catering to a higher- end clientele, so they should also be treated as the “best.” n The art of neighboring. The property management team should strive to create a com- munity by finding ways to connect the different residents and make them truly feel like neighbors.This is done by “cre- ating points of collision”where residents will have opportuni- ties to meet one another on a personal level, rather than just passing in the elevators. Social programs such as resi- dent entrepreneurial bazaars, hyperlocal wine tastings, pool parties and art unveil- ings provide great occasions for meeting one’s neighbors. Getting residents involved in charitable programs in the surrounding neighborhoods will bring people together in a more inviting way. Getting people out of their apartments and finding ways for them to enjoy one another’s company, the building as a whole, and their immediate neighborhood will help to achieve the very best lifestyle the property has to offer. n Modern living at your fin- gertips. Most residents of new apartment properties are accustomed to the most mod- ern conveniences, especially when it comes to technology. A property management spe- cialist must be able to provide the IT services and support that are expected by their resi- dents.Things such as smart- home capability like app-run locks, speakers, building access, temperature and light control, are becoming the new norm. Additionally, web/app- based resident life is exceed- ingly important. Offering an all-encompassing property app, online communication from prospect through the resident lifecycle, easy online payments and capability to do all things from afar, are now an expectation. n Market understanding. It’s imperative that a prop- erty management team fully understand the local market, so that they can deliver excel- lence not only to residents but to the property owner.Team- ing with forward-thinking experts in the areas of con- sumer insights and customer experience helps to ensure that the right services and amenities are being offered, the right operational decisions and methods are being imple- mented and that associates are brand ambassadors and are focused on delivering the most outstanding customer service possible. n Social presence. Simply doing all of the above is not enough. A successful team also has to portray the com- munity they’ve created, online. This comes in many forms from online reputation man- agement to actively utilizing social media outlets.We hear more and more about creat- ing that “instagrammable moment” at communities as an additional amenity. If your efforts to be “specialists” never make it to the consumer, much of them are wasted. Sharing a resident’s lifestyle by tying in neighboring charities, businesses and community events helps the prospec- tive residents get a feeling of inclusivity that they could be currently missing. Millennials call this “FOMO” and it is the final, necessity in being a true specialist. Meeting the expectations of residents in today’s com- petitive multifamily market is critical to the success of a property on multiple levels. It not only creates a lifestyle and living environment that people love to call home, but also it brands a property as being “the best place to live in Denver.” s The ‘specialists’ approach to management Tracey Dodson Regional vice president, Kairoi Residential Four Decades Of Innovation Flexible, Full-Service, Turnkey Solutions Centric Elevator is a locally-owned, family-led business that’s been maintaining, modernizing and installing commercial, government, hotel, retail and multi-family elevators since 1977, making them one of the largest independent elevator contractors in the Western United States. Centric has earned a reputation for providing exceptional work and excellent customer service on virtually every make and model elevator, escalator and lift. Government & Education Hotels & Multi-Family Hospitals & Office Buildings COLORADO 1455 S. 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