Category: News

RPM’s COO of Investments Chimes in on AI, Using Models to Predict Future Rent Growth

Josh Kahn, RPM’s Chief Operating Officer, was featured in a PERE article on the commercial real estate industry adopting AI. Discussing how managers are using models to predict future rent growth, Josh stated “these models will become more dynamic and start to incorporate asset-level characteristics likely to drive performance.

Read more: AI will give you your time back, PERENews.com

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RPM Chief Economist Talks Impact of Fed Policy on Housing Market

During his appearance on Bloomberg Businessweek, RPM Chief Economist Brad Dillman discussed the impact of Fed policy on home builders and the housing market. During the segment, Brad spoke on the difference between national inflation statistics and what's actually happening with rental prices, hinting at how looking at things regionally might give us a better handle on housing trends.

Read more: Bloomberg Businessweek: Fed Decision, Bloomberg Radio

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RPM Chief Economist Discusses Homebuilding and High Interest Rates

On "The Watch List," Chief Economist Brad Dillman addressed the Case-Shiller Index data released this week and the implications on homebuilding amidst high interest rates. Reflecting on the third consecutive month of rising home prices, Brad attributed this trend to a decade of underbuilding and low volume in the housing market.

Read more: How Higher Rates Have Impacted Homebuying, Schwab Network

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How to Connect Maintenance and Office Team Efforts to Drive NOI/Results | Mic’d Up with RPM - “Faces of Facilities” Episode

Listen or watch the Mic’d Up with RPM podcast now on YouTube and Spotify.   

In the third episode of Mic’d Up with RPM, Vice President of Facilities Cerwin Thompson and Regional Vice President of Facilities Darryl Manco discuss challenges inherent in the maintenance field and essential actions that lead to increased net operating income (NOI) and resident satisfaction. 

Facilitating internal cohesion between on-site leasing and maintenance teams is a central focus of Manco and Thompson throughout the podcast. This requires strategies to encourage each team to opt in, such as meeting shared goals or participating in cross-training, and even simply mixing the teams during engagement events and social activities in a more intentional way to build connection. 

Thompson shared that when the dynamic is off between service and office teams, it negatively impacts how the asset operates. Properties where the teams are collaborating effectively tend to see better resident retention and customer service, higher occupancy and higher NOI.   

The leaders also identified interpersonal respect as a simple but critical element to achieve this collaborative relationship among on-site teams – a team that trusts each person will do their job and do it well. 

Recruiting and retention is another key theme in this podcast episode. With today's competitive market for skilled service personnel, Thompson and Manco partner closely with the RPM Talent Acquisition team to find maintenance talent. Manco shares their approach of prioritizing service candidates’ potential over experience, recognizing that within their department, skills will be developed. (Find the role for you at RPM at rpmliving.com/careers/.) The leaders stressed the value of learning from errors and how to view challenges as opportunities for progress, a philosophy regularly modeled to their teams.  

 “[Take] the pride out of it. We're all going to make mistakes, and mistakes are what help us grow…just dust yourself off and pick yourself back up and keep moving forward,” Thompson says, candidly sharing a time his mistake led to the burnout of several transformers. 

Manco and Thompson also suggest that a balance of centralization and decentralization currently yields the most efficient workflow for maintenance and that, even with technological advancements like artificial intelligence, human involvement remains indispensable in the service field. All of this requires associates to hone their adaptability skills while staying abreast of new technologies to streamline processes.   

RPM's distinctive programs and people-centric culture significantly contribute to retaining top talent. In addition to the dedicated Town Hall meetings that include interaction between on-site associates and corporate leadership, associates appreciate weekly pay for on-site teams, annual surveys, diverse employee engagement initiatives, active recognition through events like Service Appreciation Week, and various other benefits that solidify RPM as a preferred workplace for maintenance teams. 

 

About Mic’d Up with RPM, an RPM Living Podcast

From insights to inside jokes. Hot topics. Hard topics. Stories of people and the things that matter (inside the multifamily industry and out). Mic'd Up With RPM, an RPM Living podcast, is unpacking today’s hottest multifamily, customer experience and business topics with RPM thought leaders and subject-matter experts from a variety of industries and backgrounds.

Hosted by VP of Marketing Relations Tony Sousa, Mic’d Up With RPM is available on Spotify YouTube.

 

Service Appreciation Week 2023

 

Service Appreciation Week 2023

 

Service Appreciation Week 2023

 “It doesn't matter if you're the groundskeeper or the CEO of our company, at the end of the day, everyone [must] feel valued. And when we do that, we create this culture where people love going to work, right?”, Manco proposed. 

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About RPM Living   

RPM Living is a full-service multifamily management company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #3 on the NMHC Top 50 Largest Apartment Manager list, managing more than 180 clients, 12 regional offices and 226,000 units, with an owned portfolio of $3 billion. Founded by Jason Berkowitz in 2002, the firm has grown to 4,500 associates nationwide spread across over 50 markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com 

For the latest news, visit RPMLiving.com/blog. Listen or watch Mic’d Up with RPM now on YouTube and Spotify.    

Mic’d Up with RPM - The "People Episode"

Listen or watch the second episode of Mic’d Up with RPM now on YouTube and Spotify

This episode of Mic’d Up with RPM is a must-listen/watch for early-stage managers and those who are eager to advance in their careers. RPM’s top two “people leaders”, Christine Jones, Senior Vice President of Human Resources, and Jenn Trujillo, Vice President of Engagement, walk us through how to do it and what is needed at every level of leadership.

We are led to the start of Jones and Trujillo’s unique career stories when host Tony Sousa, VP of Marketing Relations, asks how they found their “sweet spot” in their current roles. While she initially enjoyed a fulfilling career at Red Bull, Jones soon discovered that the most gratifying aspect of her job was helping her team grow and succeed. Trujillo echoed similar sentiments, noticing that others' confidence in her helped build her self-assurance as a leader.  

Trujillo openly acknowledged the impact of her relationship with insecurity and imposter syndrome. However, she ultimately realized her self-trust in her knowledge, abilities, and identity, attributing it to her passion for connecting with people.

A prevalent thread in both of their leadership approaches revolves around Being A Good Human by practicing inclusivity and empathetic listening – between associates and teams at all levels. Jones emphasized, "I have never experienced a situation where a brainstorming session wasn't more fruitful than when I attempted to tackle it alone.”

"There's no clear-cut career path, but this is why talent management is so important to me,” said Trujillo. “It is unequivocally our responsibility to create space for folks to grow and thrive. That is our leadership responsibility."

Acknowledging the universal aspiration for career progress, these HR leaders advised against hasty title pursuits. "You don't change as a person when you get the title," assured Jones. Reflecting on a crucial 13-year tenure in one role, she recalled, “All my growth happened there because I was comfortable in the space and knowledgeable. I was able to push myself without just seeking more responsibility.” 

Self-advocacy was determined in their conversation to be a critical ingredient in shaping one’s career trajectory. They both embraced the concept of "leaning in," a term popularized by Sheryl Sandberg's book of the same name. Essentially, this involves speaking up for oneself, proactively engaging in professional development, and taking on challenges beyond one's current role.  

Concerning work-life balance, Jones and Trujillo found that what might serve as a meaningful means of decompression for one person may not hold the same significance for another. RPM associates can find support and community for these individual differences and lived experiences through its Diversity, Equity, Inclusion, and Belonging (DEIB) Committee. 

Sousa posed the question, “What is the culture of RPM? Everyone seems to talk about it, but what is it like?” The leaders began describing the essence of the RPM culture, likening it to a quilt with diverse sizes, forms, and pieces. They referred to the unique character of each department, shaped organically by RPM's recent growth to meet its specific purpose and serve its people. 

They expressed their excitement about being part of RPM during this dynamic period, viewing it as an opportunity for individuals to take control of their careers and shape them according to their aspirations.  

Trujillo emphasized that such opportunities are not prevalent in many organizations, highlighting the exceptional willingness of RPM's leadership team to empower individuals to contribute to making it the best possible workplace. According to her, this commitment is unparalleled and sets RPM apart from other organizations. 

Share this story on LinkedIn and tag @RPMLiving.  

 

About Mic’d Up with RPM, an RPM Living Podcast

From insights to inside jokes. Hot topics. Hard topics. Stories of people and the things that matter (inside the multifamily industry and out). Mic'd Up With RPM, an RPM Living podcast, is unpacking today’s hottest multifamily, customer experience and business topics with RPM thought leaders and subject-matter experts from a variety of industries and backgrounds.

Hosted by VP of Marketing Relations Tony Sousa, Mic’d Up With RPM is available on Spotify YouTube.

 

About RPM Living   

RPM Living is a full-service multifamily management company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #6 on the NMHC Top 50 Largest Apartment Manager list, managing more than 150 clients, 10 regional offices and 200,000 units, with an owned portfolio of $3 billion. Founded by Jason Berkowitz in 2002, the firm has grown to over 4,500 associates nationwide spread across over 50 markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM and its national portfolio, visit RPMLiving.com.   

For the latest news, visit RPMLiving.com/blog.  

Largest Year of Growth Earns RPM Living National Recognition as 3rd Largest Apartment Manager on NMHC's Top 50 List

RPM Living is now the third largest manager in the nation, moving up 3 spots to No. 3 on the Top 50 List of Apartment Managers by the National Multifamily Housing Council (NMHC). The company had the second largest portfolio increase among the Top 50 managers.  

In 2023, RPM Living experienced its largest year of growth, adding 75,000 units to its portfolio. The company made an exciting entrance into the state of California with its first high-rise 800 Broadway in downtown San Diego, as well as entered the Las Vegas market where it opened a new corporate office. RPM also opened a new office in Nashville to support the 5,400+ units added in 2023. Today, the company manages a total of 226,169 units across 26 states. 

Its 2024 operational strategy is to focus on the basics: its associates, residents and clients. It is pushing for continued associate engagement, both company-wide, and at the regional level, to ensure associates consistently feel supported, included and “in the know” on all things necessary to do their jobs effectively. RPM also will put a more personal touch on its resident interactions to increase resident satisfaction and reduce turnover. And lastly, it will focus on more frequent and consistent communication with its clients, with a proactive approach to meeting their goals and improving overall property performance. 

“As we expand our footprint across the United States, our mission remains the same: to foster people-centric work environments where associates thrive, and create living experiences residents recommend to others, while creating exceptional performance that nurtures longstanding client partnerships,” says Jason Berkowitz, Chief Executive Officer of RPM Living. “Our No. 3 ranking is a true testament to what our extraordinary teams have achieved. Our people are the reason for our success.”  

The NMHC Top 50 is the industry’s chief ranking of the nation’s 50 largest apartment developers, 50 largest apartment owners, 50 largest apartment managers, 25 largest builders and 10 largest syndicators. This year marks the fifth consecutive year RPM has been included in the industry’s chief ranking of the nation’s largest managers after debuting at No. 42 in 2020.  

For more information about RPM and its national portfolio, visit RPMLiving.com 

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About RPM Living  

RPM Living is a full-service multifamily management company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #3 on the NMHC Top 50 Largest Apartment Manager list, managing more than 180 clients, 12 regional offices and 226,000 units, with an owned portfolio of $3 billion. Founded by Jason Berkowitz in 2002, the firm has grown to 4,500 associates nationwide spread across over 50 markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com. 

For the latest news, visit RPMLiving.com/blog.

Debut Episode of Mic’d Up with RPM

Listen or watch the first episode of Mic’d Up with RPM now on YouTube and Spotify.  

Unlock insights from RPM Living's top operational leaders in the debut episode of Mic’d Up with RPM, hosted by Tony Sousa, VP of Marketing Relations. Cynthia Miller, President of Operations, and Division Presidents of Operations, Stephanie Johnston and Trisha Satterlund, candidly discuss their career paths and the greatest impacts on their success, work-life balance strategies, and industry forecasts for 2024.  

The podcast opens with the leaders’ reflections on their journeys in the industry from leasing agents to executive management. They attribute their ascent to their current roles to a blend of competitive spirit and intelligent curiosity which propels them in empowering their teams and driving success.  

Early in their careers, the leaders faced a common hurdle: a lack of visibility into growth opportunities and the various company’s operations.

“Looking back, I wish that I had had more visibility into what a growth path looked like,” Johnston stated. “I had no idea who half the leaders were at my company [nor did I have a grasp of the perspective beyond my on-site role.]” 

Thanks to this shared early experience, the leaders are particularly passionate about giving their teams access to resources and people to help them understand growth opportunities and paths.

Miller strongly affirms, "My success is intricately linked to the success of my teams." “What was the magnetic pull to RPM for you?”, asked Sousa. “Jason, honestly, was what attracted me,” Miller replied. “[He] is very available for our on-site teams. He's extremely genuine. He directly answers live questions from all associates every quarter in our Town Hall meetings. I think that when it starts at the top, it 100% bleeds all the way down.”  

Satterlund added, “The culture, the people, the entrepreneurial spirit that Jason promotes. He allows us to really own a piece of the business. That [autonomy] was attractive to me. To be able to come in and be part of the fabric of the company to make decisions that better our lives, our associates’ lives, our partners’ lives...” 

Aligning with CEO Jason Berkowitz’s intentional avoidance of labeling RPM as a "family," the leaders echo the importance of maintaining clear boundaries between work and personal life. With a camaraderie akin to athletes like Super Bowl champion Travis Kelce, RPM teams form tight bonds and revel in shared wins; yet, at the end of the day, both groups return home to what is most important, their families. Contrary to the notion that women "can't have it all," these leaders firmly assert that they can and do achieve a rewarding balance working at RPM.   

As the podcast nears a close, Miller, Johnston, and Satterlund offer insights into the industry's outlook, emphasizing the importance of navigating the challenges of the current financial climate with agility and adaptability. With a razor-sharp focus on associate engagement, resident satisfaction, and client-centricity, RPM charts a strategic course of continued growth. 

Share this story on LinkedIn and tag @RPMLiving.  

 

About Mic’d Up with RPM, an RPM Living Podcast  

From insights to inside jokes. Hot topics. Hard topics. Stories of people and the things that matter (inside the multifamily industry and out). Mic'd Up With RPM, an RPM Living podcast, is unpacking today’s hottest multifamily, customer experience and business topics with RPM thought leaders and subject-matter experts from a variety of industries and backgrounds.

Hosted by VP of Marketing Relations Tony Sousa, Mic’d Up With RPM is available on Spotify, YouTube, Apple Podcasts and Google Podcasts.  

 

Listen/Watch:

Season 1 Trailer  

Episode 1 on YouTube and Spotify 

 

15-Year Newmark Exec Joins Top-Growing Multifamily Investment Company RPM Living

Zach Springer Brings Industry-Wide Relationships on the Heels of RPM’s Most Active Investment Year. 

RPM Living, a full-service multifamily investment and management company, is adding to its bench strength with the addition of Zach Springer as Partner and Managing Director of Capital Markets. On the heels of the company’s most active investment year – closing 18 transactions for over $1B in value in four states – Springer is poised to oversee equity/debt for RPM at a national level. Springer will elevate RPM’s equity sourcing capabilities and continue to expand the institutional investor base by leveraging RPM’s data, geographical footprint, and exceptional investment track record.   

“Adding a superior talent like Zach to the team is an exciting way to kick off the year,” says Hank Farrell, Chief Executive Officer of RPM Investments. “His depth of relationships and market knowledge from a national standpoint is key as we implement our investment strategy with current and new equity groups across the country.” 

Prior to joining RPM, Springer was Vice Chairman at Newmark, where he was directly involved in over $10B in multifamily transactions across all classes of multifamily properties. He helped lead (along with his partners) the Newmark Houston office to a No. 1 ranking in market share/transaction volume for the last eight years and No. 1 in the nation in 2021 among all multifamily brokerage shops. Springer has a Bachelor of Arts in Economics from The University of Texas with a minor in Business. He is an active supporter in non-profit organizations, including Yellowstone Academy, Apartment Life, HOPE International, Family Legacy, and Free the Captives.  

“After 16 years in the business, I never thought I would see the day I left brokerage and especially my team in Houston that is more like family than colleagues. It took a unique situation, which I believe this opportunity offers,” says Springer. “I have known and been friends with Hank and Jason [Berkowitz, CEO of RPM Living, Management] for nearly 20 years and feel fortunate to have the chance to partner with them and build something special over the next 20 years. The goal is to be the best investor, operator, and manager in the industry, and I look forward to seeing what we can accomplish together. The energy around RPM and their leadership is what stood out to me and reminds me of what the Newmark team has in Houston.”     

About RPM Living 

RPM Living is a full-service multifamily management and investment company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #6 on the NMHC Top 50 Largest Apartment Manager list, managing more than 180 clients, 12 regional offices and 200,000 units, with an owned portfolio of $3.5 billion. The firm has grown to 4,500 associates nationwide spread across over 50 markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com.  

Photo: Zach Springer, Partner and Managing Director of Capital Markets at RPM Living

For the latest news, visit RPMLiving.com/blog.