THE STONERIVER SCOOP
Volume 4 February 2024 Issue
State of the Company
We are excited to share some news about upcoming events at our company. In just a few short months, we will be holding our State of the Company meetings, which are scheduled to take place in April and October. These meetings are a great opportunity for all of us to stay informed about the company's progress over the previous two quarters and get a glimpse of what's in store as we continue working towards our goals for 2024. I'm sure we'll have many exciting announcements to share, including promotions and new team members joining us. And let's not forget about the award winners from the previous quarters! They will be recognized during the meetings and will now also be featured in the newsletter.
Starting this year, we are excited to announce a new addition to our State of the Company agenda! We will include a question-and-answer session towards the end of the event to make it more interactive. We are eager to hear from you and encourage you to submit any questions you would like to have answered ahead of time to ensure they are addressed during the session.
Here are a few example questions:
- What markets are you seeing the most activity?
- Do we have any plans for future acquisitions and developments in 2024?
- When we do renovations on a new acquisition, what are some of the biggest obstacles we face, and how have we learned to manage those after renovating so many properties?
- I enjoy working for StoneRiver and want to continue to grow in my career. Who is the best person to talk to about creating my development plan and learning about additional education opportunities that will help me improve my skills and acquire knowledge for new roles in the organization?
Employee Spotlight
At StoneRiver Company, we highly value our team and recognize the significant contribution they make towards our success. Our team's accomplishments are celebrated on a daily basis, and we take pride in them. We're thrilled to share their stories with the world, and we'll be highlighting one employee every month.
This month, we’re featuring Mariana Alvarez.
Click on the picture to learn more about Mariana.
What is your role at StoneRiver, and how long have you been a part of the team?
I am the Property Manager at Terraces at Town Center. I have been in this role since the acquisition of Terraces in October 2022. My main responsibilities include managing my team, overseeing the property and taking care of the needs of the residents. Additionally, I supervise the interior renovations of the property.
One of my significant accomplishments was managing the eventful year of 2023 with my team. We began the interior renovations in January, which resulted in some employee turnover. In addition, I went on maternity leave during the summer, adding to the challenges. As a result, the occupancy rate of the property went down to 79%. However, with the team’s dedication and hard work, we were able to exceed the budgeted occupancy rate and achieved 92% by the end of the year.
Do you have any hobbies? I enjoy reading a good book, and nothing beats the joy of spending quality time with my friends and family.
What are you passionate about? I am passionate about being a mother to my daughter, who was born last year in April. I look forward to watching her grow and building our relationship.
What’s your ideal way to spend your weekends? My favorite weekend activity is to read a good book while relaxing at the beach.
If you could choose a superpower, what would it be? If I could have any superpower, it would be the ability to fly. As a new mom, I need all the time-saving hacks I can get!
What advice would you give to your teenage self? If I could tell my teenage self one thing, it would be to slow down and enjoy life because time is limited.
What’s one thing most people don’t know about you? Most people don’t know that I was born in Peru and spent most of my childhood there before moving to the United States with my family.
What’s the best advice you were ever given? Who was it from? One of my college professors once told us that life is 10% of what happens to you and 90% of how you react to it. This advice really helps me put situations into perspective and process stress more efficiently.
What topic could you give an hour-long presentation on with little to no preparation? I am confident that I could deliver a comprehensive and engaging one-hour presentation on any aspect of the Harry Potter book series.
What three words would your friends use to describe you? My friends would describe me as someone who is spontaneous, silly, and reliable.
What’s one thing you wish you’d known when you started working at StoneRiver, or what advice would you give to a newbie? I would tell someone starting out not to be afraid to reach out to people with questions they have! This organization is closely-knit, and people are always willing to lend a hand.
What’s your go-to productivity trick? To maximize productivity, I prioritize tasks through time-blocking and to-do lists. Crossing items off my list gives me great satisfaction.
What behavior or personality trait do you most attribute to your success, and why? I believe that my communication skills are what help me most with my job. Having a good rapport with your team and making them comfortable with you is crucial for success.
What are you currently excited about in your job? Our clubhouse is currently undergoing renovations and is expected to be completed in February. I’m excited to witness the transformation and to complete the interior renovations on the property this year!
What’s one thing that surprised you about working at StoneRiver? It’s refreshing to work at StoneRiver, where asking questions and giving suggestions is not only welcomed but encouraged!
What’s the biggest misconception people have about your position? Many people misunderstand my job when I tell them I am a property manager. They assume that I spend most of my time sitting in my office doing paperwork and reports. However, in reality, my job is very dynamic and requires me to do a lot of walking. I have to interact with vendors, residents, prospects, and other team members regularly.
We Need Your Help!
Help us find our next employee spotlight. Know someone who went above and beyond? Submit your nominee’s name, property, and accomplishment here.
PROPERTY NEWS
Charitable Giving
Each year, StoneRiver provides financial and other support to local organizations and partnerships within our communities. We focus our resources on programs and events that benefit the communities around us. We recognize that the community’s and company’s needs change over time, so we listen to our employees, business relationships, and service providers to continually evaluate our program and what is best for the community and our company. Over the years, our charitable giving policy has been focused on education and community enrichment. Both of these focus areas tie back to our core values and are a constant message in our communication within our company and our external marketing strategy. If you are passionate about an organization that falls within our focused areas and would like to submit a request for consideration, please send the information and all sponsorship details to charitablegiving@stonerivercompany.com. We do ask that we receive your request for consideration at least four weeks before the funding is needed. Once the request is received, you will be notified within seven business days of the submittal date if your request is approved. If you have any questions, please reach out to Emily Jordan.
4th Quarter Property Awards
Hoover over each award to reveal who won!
Engagement Award
Vital at Springbrook
Leadership Award
Mariana Alvarez
Impact Award
The Highlands
Best Month Ever
Magnolia Grove & Pecan Springs (Both for October)
Employee News
New Hires and Promotions
Promotion – Connor Kelley (The Highlands):
We are honored to announce the recent promotion of Connor Kelley to Property Manager of The Highlands. Connor leads his team with an impressive work ethic and strives to better not only the company but himself each and every day. Whenever he has been given an opportunity, Connor takes full advantage and drives towards perfection. He never shies away from an opportunity to support a sister property in need or to go outside of his comfort zone to learn a new skill. In just a short time, he has learned to explore creative routes to drive traffic and secure leases quickly while driving rent growth to exceed the prior year in just six months. Congratulations, Connor! We can’t wait to watch you continue to exceed expectations in your new role as Property Manager!
New Hire – Caitlin Davis (Birmingham):
Please join us in welcoming Caitlin Davis as our new Senior Accountant. Caitlin received her Bachelor’s in Accounting from Huntingdon College, her Master’s in Accountancy from Auburn University at Montgomery and her Certified Public Accountant designation from the State of Alabama. Caitlin has been named as Birmingham Business Journal’s Next Gen BHM in Accounting and is a member of Alabama Society of CPA’s and the American Institute of CPA’s.
HR Corner
2024 Tax Tips
2024 is underway and a great time to review your federal and state tax withholdings. The IRS encourages all taxpayers to review their federal withholding at least once a year to make sure they are not having too little or too much tax withheld. If you withhold too little, you may owe taxes and a penalty when you file your return.
Changes that might impact your withholdings:
- Birth or adoption of a child
- Marriage or divorce
- Increase in your itemized deductions
- A new job or a second job
- Purchase of a new home
You can use the IRS Tax Withholding Estimator to help you decide if you should make a change to your withholding. This online tool will provide a step-by-step guide to check your withholding and will provide recommendations to help you determine the correct amount to withhold.
You can update your tax information by accessing your LandrumHR employee portal anytime throughout the year. You will be prompted to enter your username and password. Please reach out to Christie Smith if you can’t remember your Username.
February Contests
and Celebrations
This Month’s Contest
Wellness Challenge
For the third year in a row, we are doing our Wellness Challenge! This is an exciting, team-building wellness activity that we’re encouraging all of you to take part in! Each week, we will have a raffle for all those participating, along with a grand prize at the end for the overall team winners and individual male and female winners. Read more on how this challenge will work.
For the whole month of February, we will be challenging everyone to log as many steps as possible. This includes steps taken during and after hours, activities, etc. Sound challenging? Don’t fret! With so many ways to track your steps these days, you can simply let your smart device run in the background and won’t have to think twice about it- all you have to do is walk! Employees may use any kind of activity tracker (Apple Watch, Fitbit, Whoop, any fitness app compatible with their iPhone or Android, or simply a pedometer) as long as it is something verifiable.
We will track all steps submitted to determine the winners of the individual male and female categories. For the team winner, we will take an overall average, for not all teams will have the same number of participants.
February is American Heart Month!
It’s February – American Heart Month – a time when the nation spotlights heart disease, the number one killer of Americans.
Heart disease occurs when the arteries leading to the heart become clogged. Although heart disease has been around for thousands of years, we do know that many aspects of modern life exacerbate risk factors and make people more prone to heart disease and heart failure. Today, one in four deaths in the U.S. is attributable to heart disease. Heart disease can affect everyone, but taking stock of your prior health risks, activities, and diet can help you reduce your risk.
In most cases, heart disease is preventable when people adopt a healthy lifestyle, which includes not smoking, maintaining a healthy weight, controlling blood sugar and cholesterol, treating high blood pressure, getting at least 150 minutes of moderate-intensity physical activity a week, and getting regular checkups.
To celebrate American Heart Month, take some time to learn about heart health risks, find your favorite heart-healthy activities, and cook some healthy meals with your family.
Valentine's Day
When February 14 comes along, we can expect to exchange messages of love through thoughtful cards, flower bouquets, and heart-shaped boxes of chocolate. While these actions are small, they’re sure to make your loved one’s heart skip a beat. Here are some interesting Valentine’s Day facts that will make the holiday more fun.
- The first Valentine was sent in the 15th century.
- Not until the 1840s did we get the first mass-produced valentines.
- The tradition of giving Valentine’s Day flowers dates back to the 17th century.
- Nearly 250 million roses are grown in preparation for Valentine’s Day each year.
- Americans send 145 million Valentine’s Day cards each year.
- The first heart-shaped box of chocolates was introduced in 1861.
- Conversation hearts got their start as medical lozenges.
- More than 8 billion conversation hearts are manufactured each year.
- Four states have a city named Valentine.
Black History Month
The contributions and achievements of Black Americans are innumerable. So why do we squeeze Black History Month into one month, especially February, the shortest month of the year? Once you know the story of Dr. Carter G. Woodson, “The Father of Black History,” you’ll understand that celebrating Black history in February has never been about confining it to a month but rather sparking the scholarship and knowledge to help it become more widespread and appreciated 365 days a year.
Dr. Carter G. Woodson began a movement to write Black Americans back into the history books in the early 20th century. Born in 1875, Woodson became the second Black person to earn a doctorate from Harvard. In his studies, he noticed that textbooks often misrepresented or entirely left out Black Americans’ contributions. It prompted him to found what is known today as the Association for the Study of African American Life and History (ASALH) in 1915. The organization researched and promoted achievements by Black Americans, including looking at the African diaspora related to Black history in America. Through ASALH, Woodson created educational materials like journals, textbooks, speeches, pamphlets, and more for every grade level from college to kindergarten.
As early as 1920, Woodson urged black civic organizations to promote the achievements that researchers were uncovering. They responded with the creation of Negro History and Literature Week. Woodson chose February for reasons of tradition and reform. It is commonly said that Woodson selected February to encompass the birthdays of two great Americans who played a prominent role in shaping black history, namely Abraham Lincoln and Frederick Douglass, whose birthdays are the 12th and the 14th, respectively. By asking the public to build around pre-existing celebrations commemorating the black past, his hopes were that they would extend their study of black history, not create a new tradition. In doing so, he increased his chances for success.
Learn more about Black History Month 2024 at asalh.org, including this year’s theme, “African Americans and the Arts,” and the lineup of virtual events.
Property Operational Tips
Inclement Weather
All of our markets are subject to severe and inclement weather conditions, and it is important for each property to have a plan for when those types of situations arise. This time of year can be unpredictable, but the majority of what we see is severe winter weather or severe thunderstorms and/or tornados. Below is some information on preparing for severe or inclement weather. Remember to reference the Inclement Weather Policy for on-site office procedures during these events.
Thunderstorms
Thunderstorms are dangerous storms that include lightning and can include powerful winds over 50 MPH, create hail, and cause flash flooding and tornadoes.
How to stay safe when a thunderstorm threatens:
Prepare NOW
- Know your area’s risk for thunderstorms. In most places, they can occur year-round and at any hour.
- Create an emergency plan so that you and your residents know what to do, where to go, and what you will need to protect yourselves from the effects of a thunderstorm.
- Sign up for your community’s warning system. The Emergency Alert System (EAS) and National Oceanic and Atmospheric Administration (NOAA) Weather Radio also provide emergency alerts.
Survive DURING
- When thunder roars, go indoors. A sturdy building is the safest place to be during a thunderstorm.
- Pay attention to weather reports and warnings of thunderstorms. Be ready to change plans, if necessary, to be near a place of shelter.
- When you receive a thunderstorm warning or hear thunder, go inside immediately.
- Unplug appliances and other electric devices. Secure outside furniture.
- If necessary, take shelter in a car with a metal top and sides. Do not touch anything metal.
- Avoid flooded roadways. Turn Around. Don’t Drown! Just six inches of fast-moving water can knock you down, and one foot of moving water can sweep your vehicle away.
Be Safe AFTER
- Listen to authorities and weather forecasts for information on whether it is safe to go outside and instructions regarding potential flash flooding.
- Watch for fallen power lines and trees. Report them immediately.
- Engage virtually with your community through video and phone calls.
Winter Weather Preparedness
Winter storms can bring extreme cold, freezing rain, sleet, heavy snowfall, ice, and high winds. These storms can cause transportation, heat, power, and communication disruptions. They also can close schools, stores, and workplaces.
How to prepare when winter weather hits:
Winterizing Your Community
- During the fall, winterize the following:
- Ground-based sprinkler system
- Shut off the water to the system.
- Blow the system dry with compressed air.
- HVAC system
- Swimming pool and filter
- Fire sprinklers
- Ground-based sprinkler system
- Replenish snow control supplies (e.g., ice melt, sand, snow shovels).
- Prepare the contract for snow removal.
- Ensure the contract includes the time of day, frequency, and weather conditions under which plowing or snow control should be done, as well as vendor contact information.
- Communicate the freeze procedures to residents each year at the onset of winter (e.g., through a resident newsletter and/or Freeze Alert signs).
Preparing for Inclement Weather
- Consult with the Regional Manager/Regional Vice President and Director of Maintenance regarding storm-preparation measures. (If they are unavailable, contact an alternate SRPM management employee on the Emergency Contact List) and schedule the Maintenance Supervisor to be on call if a storm threatens.
- Take preparatory measures to minimize storm/freeze-related damage in the community. Address the following areas/equipment:
- Office, Laundry room, Basements, Broilers
- Swimming pool / fountains
- Ensure pool and spa pumps are working properly or are properly winterized.
- Circulating water will prevent freeze damage during a mild freeze.
- Irrigation system
- Shut down and drain the system, discussing the procedure in advance with the Regional Landscape Manager.
- Interior/exterior sprinkler system – Follow the sprinkler procedures (if applicable)
- Exterior spigots – Install faucet covers.
- Take protective measures in unoccupied premises (e.g., vacant apartments, model apartments, clubhouses, and apartments where residents are known to be out of town):
- Set faucets to drip, turn thermostats to 60 degrees Fahrenheit, open cabinet doors under sinks (especially when plumbing exists on exterior walls), and leave written notification in apartments for residents known to be out of town.
- Notify residents of storm/freeze-related preparatory measures.
During the Snow/Ice Accumulation
- Designate an employee to check the community for ice and/or snow accumulation when a storm occurs. Be sure to check stairwells, breezeways, and common areas.
- If roadways and driveways are icy, open the controlled-access gates.
- Use cones or wet floor signs to warn residents of possible hazards.
- Ensure that maintenance associates distribute an ice-melting substance to prevent residents and associates from slipping on ice.
- Treat common areas first (office area, mail area, all entrances to clubhouse, and parking area directly in front of the leasing office).
- Following treatment of common areas, begin treatment of stairs, breezeways, and other parking lot areas.
- Follow snow removal protocols:
- If a contractor is utilized, the Maintenance Supervisor should oversee the entire process and ensure that the contractor has performed all the work in a satisfactory manner.
- Use the Snow Removal Log and document all efforts to remove snow and ice using the Snow Removal Log.
Following the Storm/Freeze
- After the ice has melted, remove all sand and/or ice-melting products promptly.
- Remove the Freeze Alert signs.
- Walk the model homes, vacant apartments, and apartments with out-of-town residents.
- Ensure there is no freeze damage to pipes.
- Close the faucets, doors, and cabinets.
- Ascertain whether storm/freeze-related supplies need replenishing.
Birthdays
Wishing a very Happy Birthday to all of the February birthdays:
- 02/03 Ryan Daidone (Birmingham)
- 02/24 Leslie Hobson (Vital)
Anniversaries
- 1 Year – Michael Babkowski (Pecan Springs)
- 1 Year – Makayla Phillips (Birmingham)
- 2 Years – Missy Johnson (Birmingham)
A Look Ahead
- 02/01 9:00 A.M. PA to submit prelim P2P report to PMs
- 02/01 PMs send reclass & accruals to RMs by EOD
- 02/02 PMs complete lease trade-out report & send to RM by EOD
- 02/02 RM load final accruals & reclasses to PM drive by EOD
- 02/05 PMs begin initial BV review
- 02/05 Leasing commissions due for the prior month by 5:00 P.M.
- 02/06 PAs send BV & BS reports to the Controller
- 02/07 PAs send BV reports to PMs by 12:00 P.M.
- 02/07 Renewal rates due for May 2024
- 02/08 PMs send BV reports with notes to RMs for review by 5:00 P.M.
- 02/09 RMs & PAs to review BV together to finalize changes
- 02/12 PA sends internal reports to the Controller by 5:00 P.M.
- 02/12 RM’s load BV reports with notes to PAs, Controller, VP Accounting & VP PM to PM drive
- 02/12 RMs to upload rent growth reports to PM drive for VP PM & AM
- 02/14 Market survey due
- 02/15 RMs to review for any needed market rent increases
- 02/15 Controller distributes financial packages to investors
- 02/26 PMs send write-offs to RM for review
- 02/26 PMs complete month-end pre-close checklist
- 02/27 RM sends approved write-offs to PA by 9:00 A.M.
- 02/28 PAs to complete write-offs by 5:00 P.M.
- 02/28 Market survey due
- Every Monday (Tuesday if Monday is a holiday) – Occupancy updates are due
- 5:00 P.M. Every Thursday – PM weekly checklists are due
- 12:00 P.M. Every Friday – RM weekly checklist due
- 5:00 P.M. Every Friday – clear out your P2P Queue
- 5:00 P.M. Every Friday – be sure to code any credit card receipts
Have an Idea?
Would you like to share your stories, ideas, or comments to feature in our upcoming publications? Kindly send your request and a member of the newsletter committee will get in touch if chosen.
