Soule: There could be some saturation on the horizon, but what you're seeing is really a maturation of the industry. In other words, there is older product that needs to be either upgraded or replaced by newer product. But, not all markets are the same. Some markets will be affected more than others. The key driver to all of this is always going to be job growth.

GlobeSt.com: Which markets do you think will be more affected by saturation?

Soule: There are some markets out there that are tough. Washington DC is a rough market, and in the Mid-Atlantic we also see a little bit of saturation.

GlobeSt.com: What are the main factors driving occupancy?

Soule: Millennials. They are the fist generation to be a renter by choice. People want to be with their peers. Good urban infill is leasing up very, very quickly, and I don't see that stopping anytime soon. It is a generational trend we are seeing.

GlobeSt.com: What are the common issues or problems you see?

Soule: There is a need for a savvy sales team to be at point of sale. If it is a lease up, then it is important have a leasing specialist, a diligent leasing plan and a team. We don't focus enough, in my opinion, on training site-level people. That is crucial and drives revenue for an asset. It is often neglected. There is so much time and capital put into investment but success lies in the onsite team. People onsite can derail the best deals out there, so it is important to make good hires and invest in training.