Our entire business is based on a knowledge of who our customers are, and knowing how we are going to appeal to them. We make sure that every part of the property is included in that concept. From the property itself, especially the staffing of that property, to the kind of people we look to hire and retain as executives.
We've got our own game down, and we don't play the same game the other guys do, because we understand that the tenant always has a choice.
When we made a decision as a company to actively capitalize on the strong demographic trends driving the multi-family market, we asked ourselves, what is the most important thing in our business?
We took quite a bit of time going over that, before concluding that when all is said and done, everything really boils down to tenant experience. A bad tenant experience will cost us money, and a good tenant experience will make us money.
Who takes care of tenant experience? Obviously, it is the staff of employees on the property.
Those are the two fundamental truths on which every decision we make is based. Our customers must have a good tenant experience, and it is the properties employees that make that good experience happen. Those two truths are the foundation of our business.
If people have good tenant experience they will stay put long term, tell their friends, and we can raise their rents in the future. We say the tenant experience is not about the actual units, an apartment is an apartment, its mostly about the people working onsite, because only people can make other people happy.
We are feeling very positive about where things are going, and looking forward to the future.