At ResidentialONE, we believe that original thinking and innovation leads to benefits for both the communities we manage and our clients. We encourage our team members to investigate creative solutions to challenges faced by property management in today’s marketplace. This support of innovation has resulted in exciting opportunities on site and revenue growth for our clients. Below are a few examples: Read More
Month: May 2016
Rethinking Successful Lease Up
3Tree Flats is a 130 unit highrise which was constructed in the Petworth neighborhood of Northwest, Washington, DC. The building dynamics were particularly interesting due to the multi-layered restrictions associated with the Low Income Housing Tax Credit (LIHTC) program and other funding programs. Additionally, the building had a market rate component with a rent structure more than double that of the income restricted portion. The building was constructed as a condominium with St. Mary’s Center, a high-profile health services clinic which mandated a shared facilities component with the building. 3Tree Flats was leased up in a record 3 months and has maintained higher than 97% occupancy since then. Read More
Renovation and Re-positioning
In April of 2012, ResidentialONE retained management of a 72 unit property located in the Wyman Park neighborhood in Baltimore, Maryland. At the time of takeover, the condition of the property was a sore point with its neighbors. Wyman Court Apartments had the potential to be a jewel in the otherwise private home owned community. One year later, the property was a welcome addition to the neighborhood and an example of what a wise renovation and re-positioning plan can accomplish. Read More
Sustainability and Renewable Energy
ResidentialONE has become a leader in the sustainable and renewable energy arena with over 12 facilities where solar energy has become the primary hot water generation system. We have installed solar panels in a number of Maryland locations, and are seeing the fruition of this technology. We are experiencing 20% reductions in the cost of producing hot water. Read More