This model wasn't created in vacuum. Redwood conducts thorough resident surveys to uncover what both current and prospective tenants want and need. Kimmelman says this lets them more closely align amenities to the demand of their residents, and they often discover supposed hot-ticket amenities like clubhouses or gyms are not a priority.

The easy living experience is compounded by thoughtful services, like a maintenance-free experience, easy package delivery via private entrances and proximity to local amenities. "Redwood wants to make the experience seamless and easy. We want to take away whatever stress exists in a home," says Kimmelman. "Let us be responsible."

Data-Backed Success

Although the industry has trended toward communal amenities, like swimming pools, clubhouses and gyms, Kimmelman says that the data has proven Redwood's experiential approach is more impactful.

From an investment perspective, the properties are highly successful. The company has stabilized 163 rental properties, and has an average occupancy of 95%. Perhaps most impressively, Redwood has never sold an asset, the company's way of ensuring that it fulfills tenant needs and maintains quality. Kimmelman sees this is a cornerstone of the Redwood Advantage.

Redwood is doubling down on this strategy, expanding through the Midwest with a pipeline of 4,000 units—and the model continues to be popular among both tenants and investors. "Investors are not only benefitting themselves financially," says Kimmelman, "but they are also enhancing residents' lives."