August 26, 2024

Welcome to People and Properties, the Cohen-Esrey newsletter where we celebrate the successes of our team members and keep you informed about what is happening in the Cohen-Esrey world. If you have something you would like to share or an achievement that you would like to celebrate, please send it to Lee Harris at lharris@cohenesrey.com. If you are on a property, please print and distribute this newsletter to each member of your property team. You can also find People and Properties on KnowledgeNet. Click here to view previous editions.

Downtown Living in Omaha

Cohen-Esrey Communities (CEC) recently assumed management of the Central Park Tower in downtown Omaha for a third-party client. Central Park is a 64-unit high-rise building constructed in 1966 and available to seniors 62 and older or residents with disabilities. Project-based Section 8 rental assistance is available for qualified residents. Studio apartments are 464 square feet and rent for $1,116 per month. One-bedroom apartments are 575 square feet and rent for $1,461 per month. Residents enjoy a community room with full kitchen and billiards, organized activities, and controlled building access. Transportation options are abundant including access to the local bus line. Central Park is a pet-friendly community. Numerous restaurants are within a one-block walk and an urgent care center is right around the corner. The Gene Leahy Mall at The Riverfront, a pedestrian mall with a lagoon and gardens, is two blocks to the east.

Omaha is the most populous city in the U.S. state of Nebraska and the county seat of Douglas County. It is located in the Midwestern United States along the Missouri River, about 10 miles north of the mouth of the Platte River. The metro population including greater Omaha-Council Bluffs-Fremont was 1,004,771 in 2020. Omaha's pioneer period began in 1854, when the city was founded by speculators from neighboring Council Bluffs, Iowa. The city was founded along the Missouri River, and a crossing called Lone Tree Ferry earned the city its nickname, the "Gateway to the West." Omaha introduced this new West to the world in 1898, when it played host to the World's Fair, dubbed the Trans-Mississippi Exposition. During the 19th century, Omaha's central location in the United States spurred the city to become an important national transportation hub. Today, Omaha is the home to the headquarters of four Fortune 500 companies: Berkshire Hathaway, Kiewit Corporation, Mutual of Omaha, and Union Pacific Corporation. Other companies headquartered in the city include First National Bank of Omaha, Gallup, Inc., Green Plains, Intrado, Valmont Industries, Werner Enterprises, and three of the nation's ten largest architecture and engineering firms.

Richard Bruno (2024) is the Property Manager and Angie Bocquin (2024), is the Regional Manager. Jennifer Fields (2024), is the Property Accountant and Garrett Cook (2022), is the Accounting Assistant.

We welcome the following new team members to Cohen-Esrey and the Nexus 5 Group.

Rendell McCovins – Falstaff Apartments, New Orleans, LA – Lead Maintenance Technician
Racheal Lewis – Champion at Bluegrass, Lexington, KY – Leasing Agent
Joshua Stewart – Oaks at Rosehill, Texarkana, TX – Make-Ready Technician
Michael Schwerman – Walnut Street Flats, Reedsburg, WI – Custodian
Kimberly Espinoza – Carlyle Apartments, Shawnee, KS – Leasing Agent
Garrett Sumerall – Park at Forest Hill, Memphis, TN – Groundskeeper
Michael Espinoza – Loretto at Creekside, Live Oak, TX – Groundskeeper
Sherry McGee – Corporate Office – Remote – Mobile Leasing Consultant (Rehire)
Rebecca Smith – Tiger Island Senior, Morgan City, LA – Property Manager
Kelsey Price – Geneva Tower, Cedar Rapids, IA – Lead Maintenance Technician
Nadia Readus – Park at Forest Hill, Memphis, TN – Assistant Property Manager
Eliseo Inocente – Trails at Bartram Park, Jacksonville, FL – Maintenance Technician
Tim Carver – Carlyle, Shawnee, KS – Maintenance Supervisor
Tommie White – Town Square, Vermillion, SD – Maintenance Technician
Claudia Susana Martinez-Gomez – Northwoods, Kansas City, MO – Maintenance Technician
Martez Lurks – Park Edge, Lenexa, KS – Make-Ready Technician

Meet The Boulevard Team

Meet The Boulevard team. (L to R) George Smith (2021), Maintenance Technician; Connie Reedy (2019), Leasing Agent; Trisha Parsons (2018), Property Manager; and Bryan Parsons (2020), Maintenance Technician. The Boulevard is a 184-unit affordable community in Springfield, IL, that was developed by the Cohen-Esrey Development Group (CEDG) and is managed by Cohen-Esrey Communities (CEC).

Transformational Construction

Construction continues at Cohen-Esrey Development Group (CEDG) future communities.

Rough-in for electrical panels is underway at The Launchpad in Colorado Springs, CO.

Concrete flatwork being completed at Panorama Heights in Colorado Springs, CO.

Construction completion is only a few weeks away at the Loma Vista Lofts in San Antonio, TX.

Most of the massive amounts of excess soil have been removed at the Lofts at Creekview in San Antonio, TX.

Insulation wrap started at Lewis Lofts in Mankato, MN.

Check out the new exterior paint color (building on the left) at Village Park in Amarillo, TX – formerly called Astoria Park.

Concrete pads are being poured at the Heritage at Cottonwood Creek in San Marcos, TX.

Sitework continues at Overlook 157 in Asheville, NC.

Welcome Kipp!

Cohen-Esrey welcomes Kipp Keffel as the new Director of Training and Customer Fulfillment. Kipp comes from Colorado Springs, CO, and moved to Kansas to play soccer at Bethany College. After college, he dedicated his efforts to Jobs for America’s Graduates, a non-profit organization that collaborates with school districts to ensure college and career readiness for students at risk of not graduating high school.

Most recently, Kipp served as the Director of Training and Human Resources at Chick-fil-A, where he honed his skills in leadership and employee development. In his free time, Kipp enjoys outdoor adventures and spending time with his wife and their four-month-old Samoyed puppy.

In his new role, Kipp will be responsible for:

Program Management, Customer Fulfillment

Auditing and updating all Customer Fulfillment content within OASYS, including training videos, SOPs, role-play scripts, checklists, and job aids.
Collaborating with the Director of Maintenance and Safety to create content and strategies for property-level deep dives.
Coordinating the calculation of turnover costs by property on a quarterly basis.
Developing and implementing processes to integrate Customer Fulfillment into all aspects of property-level operations.
Educating teams on methods to increase the perceived value of properties.
Monitoring and responding to online forums related to business reputation responses to ensure positive and effective communication.
Monitoring Net Promoter Score (NPS) and provide actionable feedback to improve operations.
Partnering with property teams to develop and implement strategies to reduce turnover.
Reporting to RVP and MD of all communication related reports, quarterly.
Supporting and overseeing all communications with Corporate related to prospects, residents, and vendors.
Working with property teams to enhance NPS scores through collaborative efforts.
Working with Regional Managers (RMs) and Property Managers (PMs) to develop strategies aimed at increasing tenant retention.

Project Management, Training

Analyzing effectiveness of F16 training and working with KV teams to enhance training.
Coordinating the F16 onboarding training with all KV teams.
Developing and utilizing pilot groups to evaluate the effectiveness of new training programs.
Developing, administering, and monitoring the overall training strategy for the organization.
Executing a comprehensive communication plan to keep all relevant stakeholders and team members informed of training changes and new requirements.
Maintaining a detailed project plan for all educational initiatives.
Maintaining and updating training outlines for Regional Manager (RM) and field positions.
Monitoring and reporting on the operational performance of all training plans.

Baby Time!

Congratulations to Jasmin Santana (2024), Property Accounting Assistant on the August 14 birth of Ryalynn Ruby. This adorable bundle of joy was 6 lbs 8 oz and 20.5 inches long. Ryalynn's dad, Timothy, is already working to figure out how they are going to pay for her college!

Congratulations Lizzy!

It is with great pleasure that we announce the promotion of Lizzy Darby (2021) to the position of Software Development Manager.

Lizzy joined Cohen-Esrey three years ago, first as a Help Desk Technician and subsequently as a web developer. Most recently, she has been instrumental in the development of our new KNET platform, property KPI applications, the NPS system, and our corporate and Cohen-Esrey Communities (CEC) websites. In her new role, Lizzy will lead a software development team of four; work with different business units to design new and innovative applications; and oversee the support of our existing KNET software.

Congratulations, Lizzy, on this well-earned promotion!

Mastering Constructive Feedback with the Situation Behavior Impact (SBI) Model

By Marilee Scheid (2019), Director of Learning and Development

Providing effective feedback to a team member or family member can be challenging yet is essential for personal and professional growth. The Situation-Behavior-Impact (SBI) model offers a structured approach to delivering clear, objective, and impactful feedback. By focusing on specific situations, observable behaviors, and their impacts, the SBI model helps avoid misunderstandings and fosters positive change.

The SBI model consists of three key components:

Situation: Describe the specific situation where the behavior occurred. This provides context and ensures that the feedback is anchored in a particular time and place.
Behavior: Focus on the observable behavior rather than subjective interpretations. This ensures that feedback is factual and based on what was seen or heard.
Impact: Explain the impact of the behavior on you, others, or the company. This highlights the consequences of the behavior and why it matters.

Example 1: Positive Feedback

Situation: During our team meeting.

Behavior: You presented your project update clearly and concisely, with well-organized slides.

Impact: This helped the team understand your progress and align their work, boosting productivity and morale.

Example 2: Constructive Feedback

Situation: Not responding to a meeting invitation.

Behavior: You have not utilized the Outlook Appointment response for our presentation.

Impact: This leaves the planner uncertain about the number of materials needed and, if you are a decision-maker, may result in rescheduling the meeting, wasting the time of team members who attended and held that calendar time open.

Tips for Effective SBI Feedback

Be Timely: Provide feedback as soon after the behavior as possible to ensure it is relevant and fresh in the recipient’s mind.
Be Specific: Avoid vague statements. Detail the specific behavior and its context.
Be Balanced: Mix positive feedback with constructive criticism to maintain motivation and trust.
Be Supportive: Offer suggestions for improvement and express your willingness to help.

The Situation-Behavior-Impact (SBI) model is a powerful tool for delivering feedback that is clear, objective, and constructive. By breaking feedback down into specific components, it facilitates effective communication and fosters an environment of continuous improvement. Whether used for positive reinforcement or constructive criticism, the SBI model helps individuals and organizations thrive by promoting transparency, understanding, and growth.

Why We Do What We Do . . .

We continue our new feature for People & Properties focusing on stories about why members of our team do what they do. In this issue, Brent Phillips, CPM (2021), Maintenance and Safety Director, shares another inspirational story.

“Those who know me personally know that I enjoy always having something to do. At home, weekends and evenings are not a time to sit on the couch but a time for projects and being out in the world enjoying new experiences and creating new memories. Professionally, over the course of any workday at Cohen-Esrey, I wear many different hats and interact with team members from all over the country. Whether it is talking through a process with a team member on a Quick Connect, helping a Property Manager open a pool, or participating in a meeting discussing how we can bring better pricing on supplies to our properties, each day brings new and different challenges and opportunities. I get to work through all of these with a team that lives our Core Values in every interaction, and when each day is finished, I have either learned something, helped someone, or had the opportunity to say thank you. Most days it is all three. This is why I do what I do.”

Welcome, Christy!

Cohen-Esrey Communities (CEC) welcomes Christy Dilks as an Operations Support Manager in the Affordable Division. She comes to us with more than ten years of property management experience. She has specialized in compliance, management of senior properties, HUD and tax credit assets, and has worked with OneSite and served as a roving manager.

In her new role, she will support a large portfolio of third-party managed HUD and tax credit properties. Her responsibilities include but are not limited to:

Adhering to all guidelines within all applicable government programs (for affordable properties).
Assist and prepare in responses to MOR, State and other inspections and file reviews as assigned.
Complying with all applicable federal, state, county and city regulations.
Complying with and enforcing all CE policies and procedures.
Ensuring all Cohen-Esrey forms are being used and executed appropriately.
Ensuring that all files are processed and maintained in a timely manner, including repayment agreements and special claims (for affordable properties).
Following all federal Fair Housing and Landlord/Tenant laws and regulations.
Performing file audits.
Prep for MOR, State and REAC inspections and file reviews.
Report daily activity and file review reports to Regional VP.
Coordinating funding request as needed.
Ensuring invoices and deposits are properly entered and processed in a timely manner.
Ensuring site staff sends all files to collections in a timely manner or assist as assigned.
Ledger, Invoice and Accounts Receivables corrections and clean up as assigned.
Managing “needs vs wants” of the property.
Monitor petty cash according to CE policies.
Monitoring on site management of delinquencies and eviction regardless of reason for lease violation.
Reporting to property owners/investor/asset managers according to scheduled requirements as needed or assigned.
Executing scheduled resident functions and activities.
Forecasting upcoming renewals and potential vacancies.
Maintaining model(s) and vacant ready units to CE standards.
Managing curb appeal and common areas according to CE standards.
Managing property profile in Knowledge Net.
Reviewing and updating market survey.

Her Roles and Accountabilities are much longer than what is shown here. It’s quite apparent that Christy is going to be VERY busy! We’re glad you joined the team!

An Empowerment Story

By Hayley Fisher (2023), Fund Accountant

Hayley Fisher, (2023), is the Fund Accountant for Cohen-Esrey Capital Partners. Here is what she has to say about her Empowerment:

I can truly say that Cohen-Esrey has Empowered me to believe in myself as an accountant. Coming from the crazy world of public accounting, I’ve experienced a lot of self-doubt and questioned if I was pursuing the right career path. However, since joining Cohen-Esrey, I’ve gained confidence in my skills and learned many more. My manager, Eric Kirk (2011), Corporate Accounting Manager, is amazing and is always there to encourage me. Megan Lierz (2022), Corporate Accountant, and Kat Williams (2022), Corporate Accounting Assistant, are the best coworkers I could ask for. They are always there to help, and I know I can count on them.

A couple months into this job I started helping on the property accounting side in addition to my corporate position. Working in a different type of accounting was a little scary at the start, but everyone on the Cohen-Esrey Property Accounting Team have been helpful and supportive. This move allowed me to expand my knowledge and skill base, and I have grown to be a better accountant with this experience.

I’m so grateful for all my coworkers and Cohen-Esrey as whole for Empowering me to learn, grow, and not to give up!

A Huge Back-to-School Win!

South Pointe, a 372-unit market-rate property in Dallas, TX, held another resident event – this one for the kiddos with a Back-to-School celebration. Organized by Tia Richardson (2024), Property Manager, and Alyssa Garza (2022), Regional Manager, the event featured games, school supplies, shoes, food, and visits from the Dallas Fire Department and Police Department. The cost to the property was less than $200 plus staff time – the rest was donated. Huge kudos to the entire South Pointe team for delivering such wonderful Customer Fulfillment!

South Pointe is owned by a partnership sponsored by Cohen-Esrey Apartment Investors (CEAI).

Leasing in a Post-Covid World

By Michele Rollo-Burns (2018), Director of Revenue

Most of us remember the good old days of stable occupancy and predictable rental growth. The volume of new leases achieved was easily enough to cover our move outs and keep our occupancies stable. The Covid pandemic may seem like a blur, but it officially lasted 3.5 years. The Covid pandemic only officially ended May 2023. Wow, how our lives have changed! Our industry, before the pandemic, was always reliant on in-person tours as well as paper applications. Remember paper? The only purpose of having a strong online presence was to merely drive people to our front doors so our leasing teams can close the sale. Now our world is vastly different, and we are still trying to find our footing.

In 2023, The U.S. recorded a 36-year high with nearly 440,000 new apartment units that came onto the market across the country. This year is shaping up to beat that number with almost 560,000 units being absorbed in markets across the country. Just a short time ago unemployment was low, interest rates were low, and the equity to build a new property was plentiful. How has our industry been handling the abundance of new apartments flooding into our markets? Well, it’s been tough. We have witnessed first-hand some rather big changes in the way we operate. We see the addition of big move-in specials, lower rental rates, and diminishing in-person contact with our prospects. Our residents and prospects alike have the upper hand. Multifamily is accommodating our residents and prospects with lower pricing and smaller renewal increases. More prospects are now comfortable with securing their new apartment via a computer screen. They can see side-by-side comparisons of our properties relative to our competition. All while in their pajamas.

We talk a lot about the positive first impression. Curb appeal is and always will be a top priority. But how is your Internet curb appeal? Your Internet curb appeal is now the very first impression. Make sure your website photos, videos, and verbiage attract our prospects into making an inquiry. The average prospect is making inquiries to multiple properties, so our Internet curb appeal is vital to attracting their attention. Then, it all comes down to timeliness and the content of our responses. Our prospects expect fast response times to their inquiries. Immediate gratification. This is where we can leave our competition in the dust. Timely and memorable contacts with prospects will give us the edge. Remember, it is not just responding to as many prospects as you can, but how you respond and the content you include that will make all the difference. So, make sure that YOU shine through your emails, texts and phone calls. Your attentiveness to our prospects will make all the difference as well as create a lasting impression that will turn prospects into residents.

A New Product Vertical for Nexus 5

Private jet aircraft hangars are in high demand. When we built our first jet hangar at New Century Air Center for FL2CA Aviation, LLC, we thought it would be a one-off project. Instead, this project launched a new vertical for the Nexus 5 Group. The first hangar was approximately 13,000 square feet and was split into two hangar bays with private waiting rooms, restrooms, clam shell bay doors, and a private fuel cell.

During the first hangar project we learned how to navigate the FAA, Johnson County Board of County Commissioners, the Johnson County Airport Commission, Johnson County Codes Administration and other government entities. We gained great experience as we learned all the regulations and requirements. Perseverance and determination by the project team of Brian Weber (2020), Project Manager, Jessica Bell (2014), Project Engineer, and Josh Green (2018), Superintendent, set the path for this new vertical.

During the construction of the first hangar, we had several prospective clients stop by the site and watch as the building progressed. This led to our second hangar, with Team Aero, which is currently under construction (see photo). This building includes a 12,000 square foot hangar with a two-story attached office building and equipped with under-slab heating, and 100-foot wide automatic sliding bay doors. The project is scheduled to be completed in late December 2024.

Our third hangar is currently in the design stage and is scheduled for construction in June 2025. In addition to that we are currently in conversations with additional clients for our fourth and fifth hangars. Exciting times!!

Through this process, we have met several great people and have deepened many trusting relationships. This just goes to show you, that when a door opens, you truly don’t know where it will end up leading. I encourage you to walk through the open doors, with courage and confidence.

NPS in a Precarious Zone

We have watched over the past several months as the NPS for Cohen-Esrey Communities has steadily dropped to its now, all-time low, of +3. Our Vision 2026 objective is to achieve a level of Customer Fulfillment that has our residents raving about their experience to the point that we achieve a +50 NPS by December 31, 2026. Unfortunately, we are rapidly heading in the opposite direction. We read the negative comment reports each week and there are so many things that can easily be corrected that cost no money. Property Managers never being available or answering the phone, trash in hallways and on the grounds, weeds growing in curbs and shrub beds, unfriendly encounters with the property team – these are just a few of the complaints we hear from our customers. There are only 21 properties on a Leaderboard. In the December 18, 2023, issue of People & Properties, we reported 38 properties on a Leaderboard and an NPS of +38. Look how far we’ve fallen in just eight months.

We can no longer tolerate failure to deliver Customer Fulfillment. Strong measures must and will be taken to turn this around and deliver this most critical Core Value.

The Nexus 5 Group continues to set the example by scoring a +88 NPS. And congratulations to Rankin Mills at +86.11, Justin Place at +85.19, and The Boulevard at +95.38 – all who occupy First Place on our Leaderboards.

We know world-class Customer Fulfillment can be delivered by following the wonderful examples being set by these property teams who are achieving such stellar results.