Girls Incorporated of Lowell Week 3
On Tuesday, July 25, Shaw Rosen, VP of Residential Real Estate at Lupoli Companies, taught the girls the “nuts and bolts” of Property Management. While snacking on muffins, yogurt and fresh fruit, the girls listened to Shaw explain the importance of Property Management in Real Estate Development. She highlighted the main parts of the job: renting the apartments for the best rent possible, keeping the apartments occupied, taking proper care of the building, and continuing to make it a community where people want to live. Basically, the keys to a successful residential complex are: high occupancy rates, high rents, low turnover and low expenses.
This week’s activity consisted of the girls taking and expanding upon the brand they had previously created in the Brand Development class, for the building of their choice. They were tasked with developing a plan for services, amenities, and activities for the building. In deciding what types of things the residents want throughout, the girls were told that their building has a club room with a kitchen, a roof deck, and a nice lawn. Once again, the girls did an excellent job, and they’ll continue working on their brand and building in next week’s class on Marketing and Communications!