Management Diaries: How the Right Upgrades Elevate the Resident Experience and ROI

Welcome to Management Diaries, MHN’s podcast on multifamily property management. In this episode, Denile Doyle talks with Miguel Gutierrez, COO at CAPREIT.

Gutierrez leads business strategy for CAPREIT’s full apartment portfolio, which comprises more than 100,000 residents. Every decision he makes for the communities he oversees centers around resident satisfaction and retention.

With an ongoing goal to provide a positive resident experience, when it’s time to consider value-add upgrades or new services, his starting point is always renter preferences—from aesthetics to tech to sustainability.

Here are some of the topics we cover:

• Why knowing your market, including trends and demographics, is a precursor to choosing upgrades or new services for your community (4:15)
• How improvements that combine convenience and sustainability can save money in the long term and support residents (8:48)
• Managing the challenges that come with implementing upgrades or new services (11:55)
• The correlation between reduced maintenance calls and the likelihood of a lease renewal (17:51)
• A $26 million reminder of the significance of the work at hand and the importance of staying focused (23:04)