SAN DIEGO—As apartment rental rates continue to increase in the San Diego market, it's much more important to demonstrate additional value to residents in this market, Sunrise Management's Danielle Munoz tells GlobeSt.com. As we recently reported, Munoz has joined the firm as VP in its San Diego office as part of the multifamily property-management firm's expanding California team.
Munoz tells us her new position with Sunrise will focus on leadership for its Southern California team members, as well as oversight of all property-management functions for its rapidly growing Southern California portfolio. “My main goal with Sunrise is to provide leadership to our existing management team and to develop new and innovative business practices that will strengthen the core of our daily operations to better serve our clients.”
One of those business practices involves extracting value from apartment assets in a rising-rental-rate environment—particularly in the San Diego market, where vacancy is low. “The highest level of service is always needed for all asset types to create that value,” says Munoz. “For communities lacking physical amenities, service-related amenities are key. These amenities include resident events, partnerships with local businesses, active property social-media accounts, online reputation management, etc.”
She adds that Sunrise's strategy for increasing market share in Southern California is based on tactical partnerships and relationships with its owner/investors.
In San Diego, many of those investors are focused on smaller properties. According Phil Smith, who recently became Sunrise's director of small-property operations, “Like many coastal cities, San Diego has lots of small residential properties. They actually represent the vast majority of rental housing in the market. It's a big market and an underserved market. We can now bring lots of the practices and technology that were previously scaled to larger projects, to small properties. This is a boon to the property owners and to the residents.”
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
