June 2024 | News & Events

Multi-family leaders for six decades cover

sponsored by

2024 BOARD OF DIRECTORS

CHAIRMAN

Jenn Mulholland, CAM

CHAIRMAN-ELECT

Katherine Morrow, CAM

VICE CHAIRMAN

Andrew Klahn, CAPS, CAM, HCCP, CALP

SECRETARY/TREASURER

Eddie Ivey, CAPS

IMMEDIATE PAST CHAIRMAN

Stephanie Liston, CAM, CAPS

MANAGERS REPRESENTATIVE

Holly Duren

SUPPLIERS REPRESENTATIVE

DJ Arbogast

MAINTENANCE REPRESENTATIVE

Emir Skopljak, EPA, CAMT, CPO

MANAGEMENT DIRECTORS

Melanie Brink, CAM

Sundae Caudle, CAPS

Tabitha Gill

Lauren Hartstern, CAM

Alicia Jones, CAPS, CAM, CALP

Sully Lemmons, CAM, CPM

Erick Rocha, NALP

Nicole Samson, CPM

Julie Stayton, CALP

Laura Watkins

SUPPLIER DIRECTORS

Nathan Lybarger, Esq.

Jennifer McCoy, Esq.

Rusty McDonald

Bridget Opfer

Maria Williams, CAM

MAINTENANCE DIRECTORS

Brandon Etheridge

Rusty Guilliams, CAMT, CPO

IREM LIAISON

Shelley James, CAM, CAPS, CPM

LEGAL ADVISOR

M. Wesley Hall, Esq.

MDHA LIAISON

Norman Deep

PRESIDENT

Ginny Johnson

DIRECTOR OF COMMUNICATIONS & MARKETING

Kendra Love

DIRECTOR OF MEMBERSHIP & FINANCE

Autumn Stiles

COMMUNICATIONS & STATISTICS

COORDINATOR

Lauren High

EDUCATION & MEETING COORDINATOR

Anne Angel

ACTIVE PAST CHAIRMEN

Mary Bradley

Stephanie Burns, CAPS, CAM, CALP

Tracey Crowe, CAM

Andy Gass, ARM

Stacey Holt, CAM

Shelley James, CAM, CAPS, CPM

Andrew Klahn, CAPS, CAM, HCCP, CALP

Tammy Lee, CAM

Chari Lewis, CAM, CAPS, CPM

Nancy Morris

Linda Page, CPM, ARM

Susan Sherfield, CPM

Lisa Swick, CAPS

Stacy L. Taylor, CAM

Zac Ward, CPM

of the Decades Golf Tournament Proves Successful!

the Good Times Roll!

NOW FEATURING

With a rich history dating back many years, Fogelman has established itself as a trusted name in Nashville’s multi-family real estate. A shining example of this is the renowned Stewarts Ferry Apartments, a testament to their enduring presence in the Nashville area.

Fogelman is not just a real estate company but a visionary investor and manager of apartment communities in thriving cities across the country. Their focus is not just on properties but on creating vibrant communities their residents proudly call home while building value for their investments.

The company oversees 24 properties in Nashville, Chattanooga, and Memphis in the Volunteer State and 89 properties in 13 states, from Arizona to Kansas to Virginia to Florida.

Since 1960, the company has evolved from a local Memphis family-owned business to a leader in multifamily with more than 95 communities and 700 associates across 13 states in the Southeast, Southwest, and Midwest. Fogelman has a trusted team

of tenured experts with its leadership team averaging 20+ years in multifamily, and more than a decade of dedicated service at Fogelman. Today, Fogelman operates a portfolio of more than 30,500 apartment homes and more than $4.5B in asset value.

The company started its endeavors in multi-family when the Fogelman family began construction and lease-up of their first apartment community – Woodmont Towers – in Memphis. Their success with Woodmont Towers led to expansion into markets in North Carolina and Texas in the 1970s and earned the title of the largest property owner in Memphis.

Fogelman’s ground-up multi-family development in the 1980s drove the company’s growth. During that decade, Fogelman developed over 10,000 apartment homes across the Midwest and Southeast.

In the 1990s, Fogelman also began offering property management services for other owners. Many who signed up to have Fogelman manage their properties are still clients today.

Fogelman kicked off its joint venture investment platform in the new millennium in 2002. Its acquisition was a $51.9 million multifamily portfolio in Memphis, including five multi-family apartment communities with 1,326 apartment homes. Since then, Fogelman has acquired more than 90 multifamily assets.

In the 2010s, Fogelman expanded its corporate platform to include the latest asset management,

construction management, asset redevelopment, digital marketing, and property technology expertise.

In 2023, the company was recognized as one of Newsweek’s Top 100 Most Loved Workplaces and secured the title of No. 1 Best Places to Work in Multifamily.

Last year, the company also focused its attention on technology and customer service, especially meeting younger residents where they are in the digital world and building more amenities to create an experience for them.

Gone are the days when people rented apartments because they couldn’t afford to buy a house. The apartment industry is seeing a demand to create more amenities in their communities, many of which were traditionally single-family features.

That is part of Fogelman’s current strategy and future –value-added investments.

That means they may look at 10- to 20-year-old properties and undergo a renovation project to create a more modern feel, adding amenities such as pickleball courts, dog parks, and other luxury add-ons.

In Nashville, that’s the case for Stewarts Ferry Apartments, which underwent an exterior renovation project, adding top-of-the-line amenities and awardwinning landscaping.

The renovation featured an upgraded clubhouse, a new outdoor kitchen, a new FIT studio and fitness center, and a paved pool deck. The property also features two stocked fishing ponds, two lighted tennis courts, a community walking trail, a pet park, and much more.

Future renovations will include interior upgrades and ongoing refinement of existing amenities. Stewarts Ferry and Fogelman have a promising future ahead.

State of Metro Address Highlights What’s Going On In Metro Nashville

The key points from the 61st Annual State of Metro address delivered by Mayor Freddie O’Connell highlighted the achievements, priorities, challenges, and initiatives of the administration, underscoring the importance of community engagement and collaboration. Please feel free to distribute this to the Board, Executive Committee, and/or Legislative Committee.

Key Points

Introduction and Acknowledgments: The address commenced with gratitude towards the various stakeholders, including Vice Mayor Henderson, Pro Tem Suara, Budget and Finance Chair Porterfield, Metro Council members, and the diverse Nashville community. Special recognition was given to the Metro government workforce, event participants, and the Mayor’s family for their support.

Diversity and Inclusion: Emphasized the commitment to inclusivity by offering the State of Metro address in multiple languages for the first time, reflecting Nashville’s status as a welcoming city. Acknowledged the contributions of different communities and the importance of diversity in shaping the city’s identity.

Community Services: Highlighted initiatives aimed at supporting vulnerable populations, including affordable housing developments, healthcare partnerships, financial empowerment services, and eviction

CATIE LANE BAILEY Lobbyist/Government Relations Counsel Partner, Holland & Knight

prevention programs. Emphasized accessibility and outreach efforts to connect residents with essential resources and support systems.

• $1 million to support the Matthew Walker Comprehensive Healthcare Center.

• City’s first public permanent supportive housing center to be opened in a few weeks named after Father Charles Strobel.

• $169,000 in grants for the Legal Aid Society.

Historical Perspective: Shared personal anecdotes to illustrate the evolution of Nashville’s landscape, referencing landmarks such as Fair Park, Opryland, and The Gulch. Highlighted the city’s transformation over time, balancing nostalgia for the past with excitement for future developments.

Nashville Fairgrounds: The Mayor provided a testament that the Nashville Fairgrounds is alive and well and there is a desire in Nashville to see the continued flourishment of the Fairgrounds. “A fair, a vibrant expo center, a soccer-specific stadium, affordable housing soon enough, and, yes, racing, for 120 years.” He stated that Nashvillians want to be at the Fairgrounds and that is why it is so important to have improved transit access.

Transportation and Infrastructure: Presented the Choose How You Move transportation improvement program, focusing on sidewalks, transit, safety, and accessibility. Highlighted key initiatives, including sidewalk improvements, transit system enhancements, park and ride facilities, and traffic signal upgrades to improve mobility and connectivity across the city. Announced the independent audit has been approved

When disaster strikes on your commercial building or complex,

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Turnkey services to strategically handle the mitigation, remediation and reconstruction following hurricane, tropical storm, severe weather, earthquake, mudslide or catastrophic event.

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Preventative inspection, analysis, and maintenance, as well as reactive/emergency tarping, repair & replacement due to age, defect or damage.

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Diamond Awards

N OMIN A TI ON F ORM

Each year, the Greater Nashville Apartment Association recognizes participation within the organization as well as the members and the unique contributions they make to the multifamily housing industry through its Diamond Awards. The nominations for the 2023 Diamond Awards are now being accepted!

Please use one form per nominee. (Print clearly)

Date ____________________ I wish to nominate:

Category (choose 1 category per form from the following):

Multifamily Executive of the Year

Note: This nominee must be employed at a regional level or above.

Management Professional of the Year

Management Company of the Year

Management Volunteer of the Year

Assistant Manager Professional of the Year

Leasing Professional of the Year

Supplier Professional of the Year

Submissions in each category will be judged based on GNAA activity (July 1, 2023 - June 30, 2024). Winners will be recognized at the GNAA Awards and Installation Gala. Nominations must be received by July 26, 2024.

Supplier Company of the Year

Supplier Volunteer of the Year

Maintenance Professional of the Year

Maintenance Volunteer of the Year

Service Technician Professional of the Year

Note: This nominee must be employed at the on-site level, and includes Groundskeeping/Housekeeping/ Make-Ready/Concierge/Porter and Service Team members.

On Trend with Diversity

by Lisa Gunderson, Bristol Development

We want our communities to reflect the people who live there. A mistake is that many developers focus on a specific target demographic in their design efforts. For example, we have all been to those properties that feel like they are recreating a nightclub experience in their interior design and marketing. This immediately alienates a larger group of potential renters because they feel excluded.

How can we inclusively design? We begin by ensuring everyone is represented in our stock photo selection for our website. Is it time to revisit your imagery to make sure it is inclusive? Next, I remind my team on every project: This is not about you, it’s about the people who will live here. I might like an interior design choice, but it might be suitable for the project if I am trying to speak to a broader audience than just my specific representative niche. The next time you redecorate, ask your team for input on what residents and prospects might want to see.

Next G en Mentorship Program Connects Business Owners for Rewarding Experience

For Jennifer McCoy and George Vallone, their pairing as part of the NextGen Committee’s Mentorship program has been beneficial to both.

McCoy, who has been in multi-family for 16 years as a business owner of a law office that specializes in evictions, was paired with Vallone, who owns Nuveldy’s Apartment Turnover Services, because he was looking for a mentor who had experience running a successful business.

The Mentorship Program started in 2021 to leverage the vast experience of the GNAA membership network to help develop, motivate and inspire the next generation of multi-family leaders.

“I was asked by the NextGen Committee to be a mentor,” McCoy said. I thought, ‘That’s crazy. Am I old enough to be a mentor?’ Apparently I am.”

Vallone was asked what he was looking for in a mentor. “I think it was a pretty natural fit. I don’t know who made the actual connection. Jennifer has been in the industry and had a lot of success, which is what I’m trying to do,” he said. Both agree it’s been a good match.

McCoy recalled when she found out she was paired with Vallone. “When they said I had been paired up with George, I said, ‘Who is he?’ And then I looked him up and discovered he’s a brand-new business owner. The committee said that was the reason we were paired up together, because I started a successful business in this

industry, largely through this association. They thought we would be a perfect pair, and I have to say I agree.”

Vallone agreed. “It’s been awesome. I equate it to playing sports growing up. To use a sports analogy, it’s not that Jennifer is necessarily my coach but more of an athlete in the same sport I play who has had a lot of success. I want to learn from her what has worked and what hasn’t, and she gives me a lot of insight into different techniques and strategies and our ‘sport’ of entrepreneurship and small business ownership.”

Vallone isn’t the only one who has gotten something out of this mentorship relationship. “I, too, have gotten so much out of this relationship,” Jennifer said. “I went into this because I remember when I was a new business owner and so many people were willing to help me and answer my questions. Now I was going to have the opportunity to do that for somebody else. It’s been so refreshing meeting with George and just hearing about everything he went through to start a business. It took me back in time and I thought, ‘Oh my gosh, I remember when that happened.’ I have some strategies about it. It was so grateful to be able to say, ‘Wait, don’t do that. This is what’s going to happen.’ It was awesome.”

McCoy said she has also gotten a lot of fresh perspective and ideas working with Vallone. “We are doing software development and George has some background in that,” she said. “He was giving me tips

GEORGE VALLONE

JENNIFER MCCOY

on that. It’s really giving me a lot of perspective and it’s helping me stay relevant because I’m connected with new leaders.”

For mentors and mentees, the meeting place doesn’t have to be a stuffy office space or somewhere uncomfortable. “We meet at a restaurant bar,” McCoy said. “We go there because George has been so great in wanting it to be convenient for me and he proposed to meet at a place that’s very close to my office.”

Vallone suggested that mentees try to make it a little easier for the mentor. “They have a lot going on and they’re really going to be providing you a lot of value, and you want to capture that, so make it easy for them. Figure out what works into their schedule. Meet close to where their office is.”

McCoy said it’s a natural flow of conversation. “I think a misconception is that people think this has to be some big formal thing,” she said. “This isn’t. We’re a couple of people who get together and chat. It’s not hard. We don’t have a set agenda when we meet. We start by catching up, and then we work through things that are going on. We might complain a little. We work through a lot of strategies. It’s just a natural flow of conversation.”

Vallone said his biggest takeaway from the program and the relationship he and McCoy have been able to build in the last two years is that it’s been a professional therapy session for him. “We were talking about an issue I’m having and she said, ‘I had that same issue two years ago, but it was ten times bigger and I survived. So you’re going to be OK.’ Just that in and of itself has been valuable – to know that any kind of tribulations you’re going through right now are normal, and that it happens to all business owners, and here’s how to overcome that. The fact that I can share with somebody who understands and has been through that has been greatly valuable to me.”

McCoy said she’s had several big takeaways. “First of all, I’ve met a really cool person,” she said. “And I don’t

think we necessarily would have come together if it weren’t for this mentorship program. So I think that’s really awesome. I also have had a lot of good moments when we’re talking about an issue and I recall going through that. It’s just been energizing to be with a new business owner. It actually has helped reenergize me a little bit, because seeing his passion and energy makes me want it to have it, too. Seeing this new thing and all his growth has been really awesome. To even be able to help George in the slightest way has been awesome.”

Currently the NextGen Committee is taking its next round of mentors and mentees. Anyone who is a GNAA member is eligible to participate. To participate, visit https://forms.gle/YqB39QYuKCP5rZvC8

Par-Tee of the Decades Golf Tournament Proves Successful!

by Abraham McCarver, Owner, Bravo Flooring Golf Tournament Title Sponsor

This year’s GNAA Golf Tournament was another great event hosted by the GNAA at Pine Creek Golf Course in Mt. Juliet. The theme this year was ParTee of the Decades, which didn’t disappoint. From 80s outfits to 2000s music, it had a lot of the decades covered. Some highlights noticed were decorations on carts, live music on hole #9, and outfits galore. This event really embodies the spirit of the GNAA – having a good time while networking with everyone in our industry.

Although this event is a “golf tournament,” it is so much more than that. This outing is truly a social networking event with a side of golf. For many of the participants, this is one of the few times to play golf each year. In talking with a lot of them, their reason is how fun and laid back

playing is in this golf outing. This is one of the few golf events I attend where every hole sponsor shows up and decorates their hole. Food, drink, and entertainment are available on every single hole. I saw live music, TVs showing PGA Tour golf, cornhole, and cooking out spread around the course.

Melaine Brink, Sully Lemons, and the entire Golf Committee deserve a huge congratulations for organizing this great event. The GNAA staff does an amazing job every year, especially on the day of getting there before the sun comes up and being the last ones to leave after breaking down the silent auction. And finally. a huge shoutout to all the sponsors that make this event possible and a blast to participate in!

Dust off your baseball caps and warm up your cheering voices because GNAA is bringing you an unforgettable board retreat experience! Join us on June 13th for an exciting evening at First Horizon Park as we watch the Savannah Bananas face off against the Party Animals.

THURSDAY, JUNE 13TH

First Horizon Park Budweiser Club

Level Deck 6:30 p.m. 9:30 p.m.

Age Is Just a Number

Miss Nell, Dynamark’s Beloved Fixture, Nears 80

Plato once said, “He who is of a calm and happy nature will hardly feel the pressure of age.”

For Dynamark’s Nell Lowe, turning 80 in a few months is merely a chronological fact, hardly reflective of her spirit and energy.

Known affectionately as “Miss Nell” by all, she has been a vibrant presence at Dynamark for an impressive 38 years.

Long before Dynamark bought Sanders Manufacturing, Miss Nell was an integral part there. When Dynamark acquired the building, they were fortunate to inherit Miss Nell as well.

Today, she’s the master of Dynamark’s bindery operations and the last one to touch the GNAA directories before they head out the door.

Why does Miss Nell continue to work at an age when many have long since retired? Her answer is simple and inspiring. “I can’t sit around,” she said. “I did a load of laundry and mopped the kitchen floor before I came to work at 7:30 this morning. I work hard every day. The people I work with are great people. I don’t have to work, but I want to work.”

Before Dynamark bought Sanders, Miss Nell worked in screen printing where she printed T-shirts and items such as golf balls and other swag.

She found a job at Sanders in the newspaper and went to work a few days later.

“I was a manager at the Hardee’s on Nolensville Road and it had gotten robbed, and I got scared of it,” she said.

Her work ethic was instilled early. At just 12 years old, Miss Nell was already working in the fields after school. “At 16, I worked for a cologne and hairspray manufacturing company,” she said.

She’s even wired telephones for Western Electric.

Miss Nell said working makes one a stronger and better person and it helps keep the mind sharp. “You have to keep working,” she said. “That’s it. You can’t be lazy. Everyone isn’t going to hand you everything.”

Behind her unwavering spirit is a supportive partner –her husband, whom she speaks of with affection and pride. “I have a strong husband,” she said. “He keeps me going and I keep him going.”

The couple shares a love for travel, often taking monthlong trips. “We have driven from Nashville to San Francisco before,” she said. “It’s something we’ve always done and we’ve be married 45 years.”

Family is at the heart of Miss Nell’s life. She and her husband have three children, ten grandchildren and ten great-grandchildren, all of whom bring immense joy and fulfillment to her life.

Rising Stars Series

BRAD HATCHER

Community & Multi-Family Sales, Austermiller Roofing

Years in the Industry

Four

Volunteer Positions Currently & Previously Held in GNAA

I am currently in the Leadership Lyceum program with GNAA.

What brought you to the apartment industry?

A cold call, and Susan Reinoso-Silva. I called on her, and instead of her kicking me out of her office she showed me how to join GNAA and get involved!

Was this the career path something that was always on your radar?

Not at all, but sometimes you get lucky in life!

Did you have any unrelated jobs growing up that unexpectedly prepared you for the apartment industry?

I worked on a dairy farm one summer. Hard work, long hours…you don’t stop working until you have completed your task, and best of all – unpredictable interactions every day!

Why is property maintenance an attractive career path?

People will always need someone to help them fix something that is broken or about to break. It’s a good feeling to help fix something that is broken.

Best professional advice you have ever been given? Be yourself, and don’t burn bridges.

What is your favorite thing to do on the weekends? Making memories with my family, coaching my son in sports, and grilling out.

Do you have any pets?

Yes, a 19-pound mini goldendoodle named Molly and a fish named Super Try who is still with us from the 2023 Wilson County Fair.

Coolest place you’ve ever traveled?

Paris, France. As I embraced the history and culture, I realized that the USA is brand new compared to France. I went in a church that was built in the 1400s.

Give us a fun fact about you.

I used to do standup comedy on the side, and I was in a country music video in 2009 called “Bobbi with an I” by Phil Vassar. I played Bobbi, who was a broke tow truck driver who dressed like a woman to drink free at ladies night at a bar.

What upcoming GNAA event are you excited to attend and why?

THE TRADE SHOW. It’s a great show and you get to interact with so many people in a few hours.

Do you have a motto you live by?

Treat people the way you want to be treated, and actually do it.

If you could get a “do over” for something in your career, what would it be and why?

I’m not sure I would want a “do over,” because all the life experiences led me to where I am today, and I’m pretty happy with that.

Any advice you could give to the rising stars of GNAA? Keep rising, and bring people with you!

What’s your best productivity hack?

Marry a professional organizer (I did).

What does happiness mean to you?

God, family, and friends…and tacos and tequila!

Do the ends justify the means?

Nope! My college coach always said, “Right is right is right, and always comes back right Wrong is wrong is wrong, and always comes back wrong. Good advice.

If you could see a measuring scale above people’s heads, what would you want this scale to measure?

I read recently if you think everyone is mad at you, you need to sleep. If you are mad at everyone, then you need to eat. That would be nice to know before you engage with people.

When in your career did you reach success?

I haven’t yet. I’ve had an awesome journey that has led me to be right where I want to be.

It’s the Law, cont. from p. 7

and will now go to Metro Council to put the program on the November ballot.

Here’s a summary of what’s inside:

• 86 miles of sidewalk improvements. When combined with annual capital spending, this will let us complete the entire WalkNBike Nashville priority sidewalk network.

• 54 miles of upgraded corridors to provide faster, more reliable transit options, better sidewalks, and improved safety on our busiest roads.

• A transit system that runs 24/7/365 because Nashvillians don’t just work from 9-to-5. We’re doubling the frequent service and adding nearly double the number of crosstown routes.

• 12 community transit centers that connect to each other, so riders don’t have to go downtown just to get to some other part of the city. You’ll see a preview when the new Dr. Ernest Rip Patton, Jr., North Nashville Transit Center opens on June 18.

• 17 new park and ride facilities.

• 35 miles of upgraded and new bicycle facilities.

• And the thing that might help us all the most: upgrades to almost 600 traffic signals – two of every three traffic lights in Nashville – to make sure we all hit fewer red lights after Nashville SC games or in our daily commutes. This will help people moving around the city whether they’re walking, biking, taking transit, or driving.

Public Safety: Celebrated the success of collaborative initiatives between the police department, public health department, and mental health organizations to address community safety and mental health concerns. Reported reductions in homicide rates, violent crime, and response times, indicating progress in enhancing public safety.

• Partners in Care partnership with Metro Public Health Department and Mental Health Cooperative is operating in every precinct.

- 27,000 service calls since launch

• Homicide is down 25.6% compared to the first four months of 2024.

• Violent crime is down 5.4%.

• Gun thefts from vehicles are down 35%.

• Since February 1, MNPD’s special initiative to combat car theft and related crimes have resulted in 401 arrests with 220 stolen vehicles recovered and 92 guns.

• 127 new hires in the Department of Emergency Communications

• 92% of 9-1-1 calls answered in 15 seconds.

• 68 new Nashville Fire Department hires

Economic Empowerment: Addressed the disparity between the federal minimum wage and the rising cost of living in Nashville. Announced plans to increase the lowest hourly rate for full-time government employees to $20/hour, demonstrating a commitment to fair wages and financial empowerment.

Education: Recognized the achievements of Metro Nashville Public Schools (MNPS) in national education rankings and emphasized ongoing investments in school infrastructure, resources, and scholarship programs to support student success and educational equity.

• Expanded University MNPS partnerships, such as the new Nashville Vanderbilt Scholars Program.

• $18 million in textbooks in this year’s budget.

Future Outlook: Encouraged community members to engage with Metro services and resources, promoting transparency, accessibility, and responsiveness. Emphasized the collective responsibility to shape Nashville’s future by fostering collaboration, innovation, and inclusive growth.

In conclusion, the State of Metro address underscored the achievements and challenges facing Nashville while highlighting the city’s resilience, innovation, and commitment to equitable progress.

What First-Time Renters Want Most

by Barbara Ballinger, Units Magazine

Whether it’s their preference, or they graduated from college and now work, have left their parents’ homes after returning and saving funds or sold a home and want a change for less maintenance, today’s apartment renters come to the market with a variety of priorities.

Those who represent first-time renters are not a single, easy-to-define group. Many new to the process – or who may not have rented in decades – have different budgets, locations, square footage preferences and reasons to rent. Many younger renters have saved by living with their parents and working to afford their first apartment. It may lack bells and whistles associated with the amenity wars of recent years, but it’s their first home or castle and a huge achievement. “The joy of being able to come into a clean, quiet building with everything I need has been the highlight of my year,” says London Purnell, who started renting a studio last fall at Chicago-based Habitat’s 43 Green apartment community.

Others, typically older, have equity from the sale of a house and seek to replicate the space and extras they con-note with homeownership, except forgo maintenance. The varied range of wants makes it essential for developers and property managers to understand who resides at each property.

At the top of wish lists, most renters put price/value, location and convenience, although a strong fourth contender is a sense of community due to the isolation many felt during the pandemic, says Louie Colella, Vice President of Leasing and Operations at St. Louisbased CRG, which operates 2,500 beds at its purposebuilt student housing (PBSH) and 1,000 multifamily units in eight states. At the same time, many renters desire quality and privacy within their units, even when

apartment square footage is shrinking nationwide, says Michael H. Zaransky, founder of Chicago-based MZ Capital Partners, which operates 2,500 units in three states. The average size of a new apartment shrank in 2022, according to RentCafe, decreasing from 941 square feet a decade ago to 887 square feet. Here’s more to consider.

Affordability and Perceived Value

After rents skyrocketed during the pandemic, they stopped their big upward trajectory, though they are still 20% higher than at the start of the pandemic, according to Apartment List.

Although it may represent a slight nuance, Marcie Williams, CEO of Charlotte-based RKW Residential, which has 35,000 units in nine states, says the majority of those looking at the company’s portfolio seek value more than price. “For example, they know there may be other places that rent for less than $3,500 a month but they don’t want to sacrifice amenities or space for quality,” she says. “Their perception of the value they get for their housing is the same that they seek in other facets of their life,” she says.

Patrick Burke, Senior Managing Director of Property Management, Build-To-Rent for Atlanta-based RangeWater Real Estate, which has 15,000 units in 11 states, says its first-time residents expect to pay a higher price for the value of what they’re getting, from physical space to amenities, fixtures, hardware and convenience. In some markets where new building inventory has been delivered, competition among Class A buildings has heated up so much that companies have brought back concessions. An example is Myrtle Beach, SC-based Sands Companies, which currently

gives one month free for its apartment “cottages” in Myrtle Beach. In more competitive Nashville, concessions may be greater.

But to reflect value, concessions aren’t usually used month after month, Williams says. Habitat added an incentive to help Purnell afford her first apartment. It let her break her monthly payment into two. “The fact the company was willing to work with me was a huge plus,” she says.

Location-centric

What connotes a desired location varies among different cohorts but is of paramount importance, says Williams. “One reason is that most renters live in a building for a short term, so they want what they want now and won’t wait,” she says. As a result of the pandemic, many in the student niche, as well as others, place a premium on outdoor space so they won’t feel cooped up.

Gen X and Millennials want proximity to a job by walking or public transportation and nearby services, especially as work-from-home or a hybrid continues. Purnell chose her building in part because of the five-minute walk to her job as a teacher and its closeness to her mom’s apartment.

Mary Cook of Chicago-based Mary Cook Associates, commercial interior designers that help guide developers on trends, says the location of the Oleander apartment building in Brookhaven, GA, on the site of Emory Children’s Hospital grounds and near the Atlanta Hawks training facility and several medical office buildings, was critical since many residents would be medical personnel. “They are mostly not working remotely but going into work. This means we needed to dedicate less space to remote and co-working and more to fitness and wellness including 24-hour access to these amenities as many were working late shift,” Cook says.

That priority was less key, Cook says, for those living in a building in Harrison, NJ, where the majority of residents would be financial and tech workers commuting into Manhattan only a couple days per

week and requiring more remote workspace including remote meeting space, Cook says. “Remote meeting space is different from remote work in that it requires acoustic privacy, robust Wi-Fi, the latest audio and visual technologies and appropriate backgrounds,” she says. The WFH requirements depend on who you are designing for and whether they are truly working and meeting remotely, Cook says. On the other hand, Baby Boomers may be looking for more space, parking and safety as well as amenity spaces that allow them to continue to host family members on occasion. “They want to be near kids and grandkids and many have a primary residence in Florida, Arizona or another more tax-friendly state,” she says.

A decision may hinge on convenience and how spread out or dense a location is, Colella says. “In suburban St. Louis, more may drive between locations, while those living in downtown Chicago are more likely to walk or use public transportation,” he says. Many who gravitated to the new 12-unit The Ellis building in Chicago’s North Kenwood Oakland neighborhood like being near surrounding art galleries, historic buildings, proximity to the beach and Lake Michigan, and public transportation, says Ivan Mariduena, Director of Real Estate Operations for Evanston, IL-based Jennings Realty, which has 41 units in Illinois and Florida.

Some developers like RangeWater try to meet different residents’ location preferences by building at a range of sites such as near a city, which may come with a higher rent, and in more suburban or rural places. In the latter cases, the company tries to introduce a greater sense of community by hosting food trucks and other events periodically so residents don’t have to leave to meet their needs, Burke says.

Convenience

Ease of living comes in numerous ways, from being able to tour a property to sign a lease, make monthly payments and schedule repairs promptly online, which helps renters when they’re home but also when they’re at work, at a second home or traveling, says Burke.

continued on p. 33

Many found touring virtually during the pandemic saved time and worked well as technological improvements improved the process. Many renters want to continue to use such features, though others also want the option of looking in person or having both choices. “It’s again a matter of letting the residents have what they want and need when they want it,” Williams says. Purnell visited the property so she could compare studio layouts and chose one on the seventh floor to be near the building’s communal space. To make life even easier, many buildings offer more of a one-stop-shop through apps that control everything, sometimes in a proprietary system, which RKW Residential does, or through a third party, which Jennings Realty uses. “It’s the number one amenity buildings can have to make residents’ lives easier,” Williams says. After reviewing how often residents paid online, RangeWater found it was upward of 90%. It tries to help first-time renters learn how to access these systems, including their resident portal. “It gives us a hands-on opportunity to bond with them and drive adoption of online services,” Burke says.

Open Plan Layout and Other Rooms

More continue to seek an open plan and within it a nook or corner to work. The openness also makes it easier to arrange furniture, Williams says. The favored number of beds for students in a single room depends on location due to rising costs, says Kizer. How many bedrooms they want in an apartment also varies. Those living in groups of four, five and even six bedrooms currently outpace those wanting studios and one bedrooms, which were popular during the pandemic for health concerns, Kizer says.

In market-rate apartments, Zaransky finds many single renters seek studios and one bedrooms because they no longer want to live with a roommate. Other priorities among market-rate renters are for stainless steel appliances and quartz countertops in kitchens, a balcony and ample closet space, he says. More affluent renters also seek a nice entry, a garage and several bedrooms.

At its most luxurious units, RKW Residential has added wireless speakers, steam showers, wine fridges and gas appliances. At its new The Ellis, Jennings Realty constructed 9-foot-high ceilings for an old-world feel that fit brick and limestone building in a historic Chicago neighborhood. Many renters who want the feeling of a home rather than multifamily shared space opt for the growing number of BTR units, which generally have more bedrooms, more square footage, a private outdoor area and garage. Burke’s company makes a large primary bedroom a priority, along with living space, but has found that its renters care less about the size of other bedrooms but want them to work as flexible spaces such as an office.

Zaransky tested the waters with the acquisition and renovation of a community of 90 single-family apartment homes in Knoxville in April 2023 and found high acceptance. Levi Walters, Director of Asset Management and Capital Markets, at Sands Companies, says its cottage version appeals for that reason, and the company has added larger 1,693-square-foot models. “All our units are priced 20% higher than comparable multifamily Class A apartments, but many want this, especially those moving from another state. Due to a lack of stock, they rent while they adjust to their area,” he says. His cottage communities also include a clubhouse with pool, gym and business center. Currently, Sands Companies has 1,235 units in North and South Carolina, and is breaking ground on a 212-unit community in Gainesville, FL. RKW Residential has also added BTR units in the last five years, which now represent about 15% of its portfolio. As it expands, it adds customized features such as doggie doors in units.

How Managers Can Help First-Time Renters

In an age of electronic signing of leases and payments and fewer in-person visits before moving in, Colella says it’s important to explain in detail what each payment includes and what it doesn’t. He also stresses the importance of explaining how many security deposits

are required since some buildings ask for them at the start of a lease – for the first and last months. He also says it’s important to spell out in detail what will trigger a deposit not to be returned in whole or part. No matter how sophisticated virtual tours and videos have become, nothing can replace an in-person tour of a unit, model rooms and shared spaces to experience the vibe, views and understand the scale of a space, he and others say.

Some Amenities First-Time Renters Really Want

Amenity changes keep evolving, with the latest iteration reflecting life post-COVID and a desire for greater healthfulness and wellness, more socializing for some cohorts and more taking advantage of good weather and a specific location. Some attribute new features to the highly amenitized PBSH buildings students have become accustomed to such as Florida International University’s 22-story building in Miami with a huge sundeck, retractable walls, study labs, pet services, hammock lounges, hot tubs, lounge pools, cold brewed

coffee and more, says Cook. Here are amenities that matter most:

Value of location. It’s not just the location but what the location beyond offers all living there to become the hub of a community, says architect Joshua Zinder of Princeton, NJ-based Joshua Zinder Architecture. “We’re designing buildings with balconies to overlook the city’s downtown and campus and connect people to their surroundings,” he says.

Outdoor space continues to be prized on shared rooftops, courtyards and lawns and private balconies if units have them, and also at dog parks and walking trails due to the increase in pet ownership among all cohorts, including students. When Jennings Realty constructed The Ellis, it knew to maximize its rooftop with barbecue and seating with views of downtown Chicago and Lake Michigan for young professionals it anticipated leasing, says Mariduera. In Minneapolis, where outdoor areas also may be used as briefly as in Chicago, they’re still popular, says Colella. In general, Williams sees more melding of outdoor spaces with indoor areas, so it’s easy to take a laptop from home to work outdoors, Williams says. At some of its BTR communities, the company carves out walking and selfguided fitness trails and pet paths, Burke says.

Pet priority started before COVID but has ramped up more since it waned. However, once popular pet spas are less important, according to Zaransky.

Healthfulness and wellness have soared in interest but how it’s achieved varies. Renters may want a pool in their building but fewer use it, according to Kizer. Instead, many seek other ways to get and stay fit and maintain mental wellness such as doing yoga or stretching in studios rather than through workouts. But eliminating a gym isn’t happening yet since many like the idea of having one rather than knowing they’ll have to pay for an outside facility, Zaransky says.

The work from home phenomenon has led to fewer private study spaces and more collaborative areas to congregate, including in lounges with furnishings with

charging plugs, Cook says. “In a post-COVID world, developers have to anticipate people working from everywhere – in the lobby and in their unit – and also meeting remotely, so good acoustics for privacy and good backgrounds are key,” she says. This is also true in PBSH, where more students want to work from flexible seating to move around and work on group projects together, Kizer says. Amenity changes keep evolving, with the latest iteration reflecting life postCOVID and a desire for greater healthfulness and wellness, and more socializing for some cohorts.

Food remains a big draw but in different ways. Communal kitchens are another feature used less by many cohorts but are still desired because managers use them to host resident-wide events, Kizer says. Small beverage centers that dispense coffee, tea and soda are favored, especially when offered for free, and food trucks continue to make periodic stops due to renter requests. Some buildings also find that residents like occasional events with free meals included, Zaransky says.

The absence of in-unit laundry equipment can be a deal breaker for many these days, says Zinder. “It’s an amenity, especially with the younger generation, and rapidly shifting to a necessity,” he says.

High speed, reliable internet service is another essential, and some look for it to be included in the lease, Zaransky says.

Large package rooms are key as more residents purchase online, but staffed package rooms are disappearing. “It’s a room full of lockers, with delivery workers who have key access to get in and drop off packages, and residents are alerted to get their delivery,” Zinder says. “Besides saving staff, it also takes up less space.”

Important security features cameras, visible signage near entrances, good lighting and a buzzer or keypad system, Zinder says.

Programming ramped up during the pandemic when people felt isolated, but now varies, often by residents’ ages. Kizer has seen a decline at her student

communities, except related to food and yoga. There, many look to managers to help them connect with their outside community through volunteer projects, she says. Empty nesters or Baby Boomers enjoy slightly different activities, Cook says. In one project, Hathon, in Medway, MA outside Boston, the majority of renters are divorced and in their 50s who want to live near a former spouse or partner and kids to participate in raising children. “They are socially active and cocktailing in the lobby every day or doing potluck appetizers, etc., for a very fun community experience,” she says. Others like additional activities managers organize. MZ Capital Partners mounted an oversized Scrabble board on a common area wall, which proved a success, Zaransky says. Colella’s company still adds virtual golf simulators, tanning booths and podcast recording studios at its student housing. RangeWater uses programming to involve local small businesses in loosely structured ways such as farmers hosting a market, Burke says. One of the best reasons to keep programming in place is that when residents become engaged and get to know their neighbors in a building and community, they’re more likely to provide a favorable review and renew, says Williams.

Barbara Ballinger is a frequent contributor to Units.

CALLING ALL MANAGEMENT COMPANIES

What is the TNAA Business Exchange? It’s an opportunity for management company leadership to connect with a select number of suppliers for one-on-one timed intervals. This allows management companies to find solutions to their current needs and learn more about new products and services available to help make their properties run smoother and give better resident experiences.

WANT TO PARTICIPATE?

THURSDAY, AUGUST 15

Business Exchange

6 p.m. - 8 p.m.

Reception 8 p.m. - 9 p.m. Ferguson Showroom 3201-B Powell Avenue, Nashville

NEW MEMBERS

APARTMENT COMMUNITIES

Briarville

Brandy Tomlinson

600 Creative Way

Madison, TN 37115

184 apartment homes

615-795-0432

briarville@enfieldmgmt.com

www.thebriarvilleapartments.com

Enfield Management Company, LLC

Chartwell Commons at Kedron Square

4020 Chartwell Ct.

Spring Hill, TN 37174

321 apartment homes

chartwellatkedron@rpmliving.com

RPM

Haven at Charlotte

3025 Charlotte Ave. Nashville, TN 37209

369 apartment homes

888-829-8945

havencharlottecm@porticopm.com www.havenatcharlotte.com

Portico Property Management

The Kensington

Kimberly Sampson

2100 Clifton Ave. Nashville, TN 37203

11 apartment homes

615-598-7859

ksampson@volprop.net

www.thekensingtonnashville.com

Volunteer Properties

Paddock at Grandview

Stephanie Malone

5515 Scruggs Ln. Nashville, TN 37207

240 apartment homes

615-650-2030

paddock@enfieldmgmt.com www.paddockatgrandview.com

Enfield Management Company, LLC

Phoenix on 51st

Cody Cranford

5010 Illinois Ave. Nashville, TN 37209

19 apartment homes

615-238-0686

ccrandford@volprop.net

Volunteer Properties

Pike Place

1100 Douglas Ave. Nashville, TN 37206

32 apartment homes

615-657-7587

lisa@parasolmanagement.com www.pikeplaceapts.com

Parasol Property Management

Robinson Rowhouses

Teresa Green

421 E. Iris Dr., Suite 300 Nashville, TN 37204

66 homes

615-297-7711

t.green@hndllc.com

HND Management

Trinity Lofts

Kimberly Sampson

1400 Brick Church Pk. Nashville, TN 37207

111 apartment homes

615-598-7859

ksampson@volprop.net www.trinitylofts.com

Volunteer Properties

Vintage Stonetrace

Eric Barbee

4000 White Birch Ave. Smyrna, TN 37129

325 apartment homes

615-647-9002

stonetracemgr@elmingtonpm.com

Elmington Property Management

Walker Court 1900 Archway Dr. Columbia, TN 38401

88 apartment homes

931-901-0240

walkercourt@enfieldmgmt.com www.walkercourtapartments.com

Enfield Management Company, LLC

SUPPLIERS

Broussard Services

Aimee Broussard 117 Lemuel Rd. Nashville, TN 37207

228-369-9153

aimee@broussardmechanical.com

Backflows; Drain Cleaning; Drainage Repairs; Dryer Vent Cleaning; HVAC Contractors; Plumbing Contractors; Water Service/Equipment

Everline Coatings of Middle Tennessee

Elizabeth Carroll 110 Villa View Ct. Brentwood, TN 37027

615-289-2221

liz@everlinecoatings.com

Asphalt Repair; Concrete Repair/Resurfacing; Parking Lot Maintenance/Paving/Seal; Sports Flooring; Tennis Court Construction/Repairs/Supplies

GLCC Holdings, LLC

Scott Dupriest PO Box 382

Old Hickory, TN 37138

615-660-7366

contact@glcc.co

Gate/Access Control Systems; Internet Services/ Consulting; Security Consultants/Systems

Homesmiles

Noah Tidmore PO Box 2231 Birmingham, AL 35201

629-252-8292

ntidmore@homesmiles.com

Cleaning Services; Drain Cleaning; Dryer Vent Cleaning; Fire Alarm Inspections; Garage/Overhead Door Services/ Sales; Gutters/Repairs; Insurance/Risk Management Services; Maintenance Services/Supplies; Pressure Washing; Windows/Replacement

Liftmaster

David Bell

519 Royal Jay Ln. Longs, SC 29568

630-484-8273

david.bell@liftmaster.com

Audio/Visual; Gate/Access Control Systems; Key Control Systems; Security Services; Smart Technology

NEBCO, LLC

Stacy Burgess

325 W.Rutherford Blvd., Suite D Murfreesboro, TN 37130

615-631-9248

615-631-9249

stacy@nebcoservices.com www.nebcoservices.com

Air Deodorizers; Air Duct Cleaning; Air Quality Testing; Carpet Cleaning & Repair Services; Dryer Vent Cleaning; Moisture Control; Mold Abatement; Odor Removal; Pressure Washing; Tile Floor Cleaning/ Stripping; Water Extraction/Damage

Revela, Inc.

Richard Atkins

6001 Cass Ave., 5th Floor Detroit, MI 48202 248-390-6779

ratkins@revela.co

Property Management Software

Service Masters Trifecta

Roddy Richardson

201 Molly Walton Dr. #A Hendersonville, TN 37075

615-604-5605

rrichardson@smtrifecta.com

Air Deodorizers; Biohazard Waste Cleanup; Commercial/Insurance Restoration & Reconstruction/ Repair; Floor Restoration; Mold Abatement; Odor Removal; Water Extraction/Damage

Traka/ASSA ABLOY

Dylan Rivera

1925 Cannery Way Orlando, FL 32804

407-681-4001

info@trakausa.com

Key Control Systems; Security Consultants/Systems; Security Services

LEASING LIKE THE STARS HIGHLIGHTS

Become a Go-Getter

Your Path to Rewards and Recognition with GNAA

Have you ever thought about transforming your network into tangible rewards? At the Greater Nashville Apartment Association, members have a unique opportunity to do just that through the Go-Getter Referral Program. This exciting initiative not only rewards you for expanding our community but also offers a chance to win a grand prize at the end of the year.

Who is a Go-Getter?

A Go-Getter is a GNAA member who actively refers new members to the association. By doing so, they not only help grow our network but also earn significant benefits themselves. For each successful referral, a Go-Getter receives a $25 bonus check. But that’s not all – each referral also enters the Go-Getter into a yearend drawing to win the Go-Getter jackpot, the value of which depends on the total number of referrals made throughout the year. The more you refer, the higher your chances of winning!

How to Qualify as a Go-Getter

To qualify for the Go-Getter Referral Bonus, there are a few essential criteria to keep in mind:

• Complete Application: The new member’s application must include the referring member’s name in the “referred by” field.

• Approval by the Board: Both the referral source and the applicant must be approved by the GNAA Board of Directors.

• Payment of Dues: The applicant must pay their new member dues to the GNAA office.

• Eligibility of Applicant: The applicant should not have been a GNAA member within the last 12 months.

Once these criteria are met, the referring member becomes eligible for the referral bonus and enters the drawing for the jackpot.

Restrictions to Keep in Mind

While the Go-Getter program is designed to be rewarding, there are some restrictions:

• Only current GNAA members in good standing can participate. Members with outstanding balances must clear their dues to qualify for the bonus.

• Referral bonuses are non-transferable. They cannot be used to offset any balances owed to GNAA, including sponsorships, registrations, or other purchases.

Why Participate?

The Go-Getter program offers multiple benefits:

• Monetary Rewards: Earn $25 for each successful referral.

• Annual Jackpot: Increase your chances of winning a substantial jackpot at the end of the year.

• Community Growth: Play an active role in expanding the GNAA network, enriching the community, and bringing in fresh perspectives and opportunities.

By referring new members, you not only enhance your own professional network but also contribute to the strength and diversity of the GNAA community. Your efforts help maintain the dynamic and supportive environment that GNAA is known for.

Join the Go-Getter Movement Today!

Ready to become a Go-Getter? Start reaching out to your professional contacts and invite them to join GNAA. Your referrals can pave the way for both personal rewards and collective success. Don’t miss out on this fantastic opportunity to be recognized and rewarded for your contributions.

For more information on the Go-Getter Referral Program and to download the membership application, visit the GNAA website or contact the GNAA office directly. Let’s grow together and make this year the most rewarding yet!

A testament to her resilience, Miss Nell faced a lifethreatening challenge three years ago when she was diagnosed with Wegener’s disease, a rare condition that severely affected her lungs and other organs. She spent 27 days on life support at Vanderbilt University Medical Center. Her value to Dynamark was such that management held her job for her during her recovery, a gesture that speaks volumes about her impact on the company.

Miss Nell’s story is one of dedication, resilience, and an unyielding passion for life. Her boundless energy and positive outlook serve as a beacon of inspiration for all who know her. As she approaches her 80th birthday, Nell Lowe stands as a living testament to the idea that age is just a number, and that a life filled with purpose and joy is the key to eternal youth.