Property Management and Leasing.
We believe that much of the opportunity to create
value for stockholders exists in the day-to-day property management and leasing
operations. We intend to maximize current and future cash flows through BRI
OP’s in-depth knowledge of its markets, its emphasis on customer satisfaction,
and the economies of scale we expect to achieve from BRI OP’s large property
management portfolio. Through utilization of industry research and its local
market knowledge, BRI OP determines the rent growth potential in its markets by
analyzing a variety of factors, including employment growth, vacancy rates and
competition from existing and future apartment communities. This analysis
enables BRI OP, in each of its markets, to formulate and implement strategies
for rent and occupancy growth. BRI OP currently employs a leasing methodology
which focuses on future availability of apartment units in addition to analysis
of current vacancies, thereby allowing a more scientific method for increasing
rents while maintaining high occupancy levels. The leasing strategy also
captures additional rent growth by quickly adjusting rents depending on the
supply and demand for certain specific unit types. In addition, BRI OP’s
property management teams focus on providing superior service to residents of
the apartments under management in an effort to ensure customer satisfaction.
These efforts have historically resulted in low turnover rates with existing
tenants and a good reputation in the local markets for attracting new tenants.
We believe that well-maintained properties will provide attractive and
dependable yields over time. Thus, our strategy is to make continual capital
investments in our apartment communities, in order to ensure resident
satisfaction, remain competitive, and enhance each property’s living
environment.
Buisness Strategy
Renovations and Improvements |
|
|
