Bozzuto’s Julie Smith on Smart Property Management

Responsible for a portfolio of more than 30,000 units in nearly 100 apartment communities on the East Coast, few know the ins and outs of property management better than Julie Smith. She is President of Bozzuto Management Company, named “Property Management Company of the Year” by the National Association of Home Builders (NAHB) in 2009.

We recently spoke with Julie about how to keep renters happy, the rise of ‘green’ apartment living, and questions to ask when apartment hunting.

Your team at Bozzuto has a reputation for world-class customer service in the apartment market. What advice do you have for DC area landlords and property managers on keeping renters happy?

First and foremost, we believe that it is our responsibility to provide a friendly and enjoyable living environment for the residents who live in our buildings. So having property teams that are engaged, committed, creative, enthusiastic and willing to go the extra mile to ensure that all of our residents are cared for is most important in keeping residents happy. Prompt, professional and competent service is key and also expected, in any building. Home is a very personal thing and each resident is unique in what they value and what they need. So taking the time to get to know our residents and to understand what is important to them wins a lot of loyalty at the end of the day.

Bisnow reported recently that you're hiring a lot of new college grads in order to better connect with tenants in their 20s. What unique needs do Gen Y renters have?

Over 90% of our new hires are recent graduates and they do understand what is important to their peers. We have found that the Gen Y renters value quality, understand design and style, are very social and enjoy getting to know their neighbors so connecting residents is more important than ever. They are tech-savvy and are connected 24/7 so we need to be as well. They are also very interested in giving back to their communities and value measures taken to conserve resources.

What questions should DC apartment hunters ask landlords to ensure they find a well-managed property?

It is important to understand the service policies regarding general and emergency maintenance requests. They should know what other services and amenities will be available to them. It would be useful to take the time to meet all of the staff members who will be serving them. They need to understand the lease requirements and should feel comfortable asking for clarification if there is something in the agreement that they do not understand. It would beneficial to speak with a few other residents about their experience in the building. They also might want to spend a little time using an amenity like the fitness center or the pool to get a sense of how the community lives. They might also ask what the occupancy and resident retention rates area. Our business is a customer retention business and repeat customers typically are happy ones!

Your West End and Crystal City properties have been getting a lot of buzz for their focus on green living. Do you see sustainable design as a trend that's catching on in the DC apartment market? Is it important to renters?

Green living is important to renters and it is a movement that is becoming more prevalent in apartment living. Healthy living is also very important to our renters. So whether a new building is LEED certified or an existing community is simply taking measures to conserve resources and educate their residents on sustainability, there is perceived value in the opportunity to participate in the process and we are finding that renters across the spectrum are aware and engaged in becoming more Green!

Any other interesting trends you're seeing these days in the DC rental market?
I think that the most widespread trend is in technology. We are seeing an increasing use of technology in all aspects of property operations. We are using mobile applications for marketing apartments, we are using I-Pads in our presentations, we are using Resident Portals as a convenient vehicle for providing service to our residents and social networking sites to keep everyone informed. It is one of the most interesting and fast-moving trends in our industry today.

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Read last month’s interview with Jim Abdo, CEO of Abdo Development.

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