Category: News

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.    

SVP of Risk Management & Insurance Featured on Texas Multifamily & Affordable Housing Business Magazine

Shanna Berrien, Senior Vice President of Risk Management & Insurance at RPM Living, chimes in on surging insurance costs. "Insurance costs are having a domino effect within the multifamily industry," Berrien states that "Multifamily has large values at risk, so it's not the most attractive type of real estate for insurers."

Read more: Multifamily Owners Grapple With Surging Insurance Costs, Texas Multifamily & Affordable Housing Business

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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.

RPM Living Invests in Key Markets, Focuses on Nashville, Las Vegas Growth

Builds on 100,000+ Units Added in 2023, Opens New Corporate Offices to Support Nationwide Growth.

RPM Living, the sixth largest apartment manager in the nation, announces its expansion into two new markets – Nashville and Las Vegas. It has opened corporate offices in both cities to oversee the properties it manages and planned growth in each. In addition, RPM recently relocated its Phoenix and Houston offices to support significant growth in those markets.

RPM has added 29 properties in Nashville, bringing its total managed units there to over 6,000. To service these units, it added a new corporate office in Nashville, which will celebrate its grand opening this spring. The office is located at 1222 Demonbreun Street, Ste 100 at Gulch Union, Nashville’s newest development, between downtown Nashville and Music Row in the heart of the city’s business community and entertainment district. It is located in a high-rise, class-AA building that is pre-certified LEED Silver with amenities including an indoor-outdoor sky lounge, and 48-seat training room.

“Since entering the Tennessee market last year, we have grown rapidly,” said Jason Berkowitz, Chief Executive Officer of RPM Living. "Our strategy moving into 2024 is to continue growing our footprint in Nashville and Memphis, and to break into the Knoxville market. We have an incredible team who have operated in multiple Tennessee markets for many years, so we are well positioned to continue on in the path of making this a fast-growing, high-performing region for RPM."

RPM’s new Las Vegas corporate office was necessitated by adding 24 properties to its portfolio in that market last year, amounting to 5,424 new units. The new RPM office is located at 9075 West Diablo Dr., Suite 130, about 15 minutes from The Strip.

“Expanding our footprint purposefully and strategically allows us to stay one step ahead of the competition,” said Berkowitz. “We see a lot of opportunity for growth in Las Vegas and Nashville and both will be key markets of focus for us heading into 2024.”

In Phoenix, RPM recently relocated its corporate office into an expansive new space at the Esplanade development, steps from Biltmore Shopping Center. RPM manages 48 properties and more than 12,000 units in Phoenix. RPM also relocated its Houston office last year into a larger space in the Post Oak area. RPM manages 83 properties and over 25,000 units in Houston.

RPM’s overall operational strategy for 2024 is to focus heavily on the basics of its business: 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.

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

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 180 clients, 12 regional offices and 200,000 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.

Photo: Nashville Office at 1222 Demonbreun, Thomas Harris Photography

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

RPM Living Hires Chief Economist for an Edge on Predictive Analysis

Brad Dillman brings housing forecast model expertise and more than 15 years of experience to RPM

RPM Living, the sixth largest apartment manager in the nation, announces hiring well-respected chief economist, Brad Dillman, to enhance its forecasting capabilities as it dials in on strategic growth, and provide associates with a competitive operational resource. 

“I’m excited to be on board and look forward to enhancing the gains made by our award-winning analytics infrastructure,” says Dillman.  

The addition of Dillman brings a new level of technical expertise to RPM, through statistical modeling, data science, and forecasting, which informs how it can build operational models that will improve performance. This, coupled with the internal and external data it collects, will help RPM and its clients make savvier investment decisions.  

“We are bringing Brad on board to enhance our predictive analytics and forecasting abilities, which are being both demanded and made possible by our rapidly growing scale,” said Jason Berkowitz, Chief Executive Officer of RPM Living. “Brad is a well-respected and proven macro-strategic thought leader and technical expert that will help us grow our management and investment platforms and arm our associates with even more resources to continue providing best-in-class service.” 

Prior to joining RPM, Dillman was an economist and data scientist building housing forecast models for well-known national homebuilders and other multifamily property management companies. He has a Master’s Degree from the London School of Economics and holds the Financial Risk Manager (FRM) and Chartered Alternative Investment Analyst (CAIA) professional designations. 

Dillman tracks industry, economic, and capital market trends, regularly presenting to investors and other key stakeholders and industry audiences. He leads research and analytical initiatives through hands-on experience in forecasting and predictive modeling, including econometric, stochastic, and machine-learning processes and then translates that research and analysis into actionable takeaways. Dillman has authored numerous works on the economy and housing and is regularly tapped for his insights as a media commentator on national outlets including CNBC, Bloomberg, Wall Street Journal, New York Times and Yahoo Finance. 

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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 #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 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.  

 

Photo: Brad Dillman, Chief Economist at RPM Living

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

RPM Living Named No. 5 Top Multifamily Property Management Firm by MHN

RPM Living has made the top 5 of MHN's annual Top 50 Property Management Firms rankings for 2023! For more information on the rankings and methodology, please visit Multi-Housing News’ website.

 

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