Greg Mark, Pinnacle Senior Vice President, participated in a panel discussion at the November InterFace Multifamily Southeast conference in Atlanta with four other industry leaders. The session, which revolved around ways to outperform the proforma, was moderated by RealPage’s Ed Wolf.
The panel discussed a variety of challenges and opportunities operators undertake to drive the performance of their assets. Greg’s key takeaways included the importance of controlling expenses to maximize NOI while facing the challenges of giving away concessions and battling vacancy on lease-ups. Embracing rent optimization tools and understanding the market were mentioned as drivers to combat concessions and perceived downward trends in occupancy/rent.
Greg also discussed the importance of sourcing new talent for our industry and catering operations to meet the demands of rapidly evolving resident clientele. He focused on the importance of establishing a strong corporate culture aimed and improving employee satisfaction and a strong retention rate.
In addition, Greg talked about not getting caught up in the flood of analytical data and directing the site team’s focus on the basics – rent collection, leasing and renewals, maintenance (preventative and reactionary), expense management, customer service and swift meaningful communications with residents.