By Teresa O’Dea Hein, Managing Editor
Orlando, Fla.–What Keeps You Up at Night? might seem like a personal question but five leading multifamily CEOs were willing to share their industry concerns at a general session held during the 2008 National Apartment Association (NAA) Education Conference & Expo at the end of June in Orlando, Fla. in the Gaylord Palms Resort & Conference Center.
Quotes from the article by CEO of Riverstone Residential –
Terry Danner, CEO of Riverstone Residential Group, a Consolidated American Services (CAS) Group Services, said, “Every day is a lawsuit waiting to happen. Lately, it seems like we’ve had to become INS agents and workers for the Department of Homeland Security. And the doubling of the cost of gas is cutting the take-home pay of our associates.” Still, Danner and his team are prepped for growth, planning to reach 300,000 multifamily units under management. Currently, the firm is at about 100,000.
Like most industry experts speaking at this conference, Danner doesn’t expect conditions to improve by next year’s NAA expo. “A lot more residents are living on the edge nowadays. It’ll be later 2009 or 2010 before things get better, given the overhang of houses out there. We as Americans like our luxuries—our Starbucks, going to movies, eating out.
This has given us all a wake-up call to more frugal and better savers.” Danner noted that in Europe, “green initiatives are much farther along.” To do its part for sustainability, Riverstone has implemented a number of green measures, such as using nontoxic cleaners, timers on lights, scanned documents instead of faxes, refillable ink cartridges and no Styrofoam coffee cups.
Full Article – multihousingnews.com
So, they are saving a few cents to help the environment while they save big dollars by letting their apartments (Jefferson Lakes) continue to stay toxic with years of mold growth which can certainly make people ill.
As far the statement “Every day is a lawsuit waiting to happen.” Yes, when Riverstone Residential continues to lease apartments to people knowing the apartments are infested with years of mold growth in the HVAC system and walls, etc., every day SHOULD “be a lawsuit waiting to happen.”
Living in the horrible, mold infested apartment Riverstone leased to us (knowing there was a huge mold problem) is what really might keep Mr. Danner up at night. Bring the family too! Then he would understand what keeps me up at night. katy