Reflecting on 2022
The housing market in 2022 was tumultuous. With a recession looming, interest rates rising, and supply dwindling, buying a house became nearly impossible, especially for first-time home buyers. The demand for well-maintained homes, fenced-in backyards, privacy, and spacious floor plans was still there, but there was simply not enough inventory to fulfill that desire.
At Quinn Residences, our prerogative is to provide new, reasonably priced homes for rent to Americans in desperate need of housing, and in 2022, we continued to realize our mission through several major milestones. We surpassed our goals by doubling our portfolio from 2,043 to 4,956 homes across 37 communities and, with acquisition of our community Guild Falls (fka The Guild) in Chattanooga, Tennessee, we entered a new state extending our operations to five states in the Southeast.
In addition to expanding our physical footprint across the Sunbelt, we made substantial strides toward becoming a better organization for our residents and investors. As we formalized the Environmental, Social, and Governance (ESG) policy last July, we identified the areas of focus that would represent our commitment to not only providing high-quality homes but also helping preserve the environment for future generations. We pledged to install solar panels in every community, beginning with our Durham community, along with outfitting homes with smart technology and other environmental efforts to minimize our carbon footprint. Internally, we are committed to our Diversity, Equity, and Inclusion (DEI) initiatives with annual training, diverse recruiting process, enhanced efforts on nurturing the wellbeing of our team members, and more. You can about our ESG policy here.
Finally, our efforts were acknowledged by the real estate community when we received the Globe St. Real Estate Forum’s Influencer award and were shortlisted for several nominations of the IMN Inaugural SFR Industry Awards. These recognitions serve as a testament not only to our hardworking team but also demonstrates how far Quinn Residences has come since its inception just three years ago.
Looking forward to 2023
As we reflect on our accomplishments from 2022 with pride, we also remember that there is still much work left to do as we pave the way towards fulfilling our vision and reaching our goal of building a better future together. We have entered 2023 energized and focused on the same mission, and we have set new goals to achieve for our residents, communities, team members, departments, and investors.
Dismantling the negative perceptions of the build-to-rent industry will continue to be a battle in 2023. Our product often gets mixed in with the overarching single-family rental stereotype of the uncaring landlord stealing homes out of the hands of hardworking Americans to make a quick buck. Our mission is to educate the public on how the build-to-rent industry is providing more supply to an industry in need through newly built, reasonably priced homes.
While economic uncertainty will be a factor this year and could affect our trajectory pace – the build-to-rent industry, and Quinn, is here to stay. As our team continues to grow, we anticipate the expansion of our corporate headquarters in Atlanta, as well as our office in Miami. In addition to developing our existing communities, we are exploring new markets in the Southeast to appeal to different demographics. In 2023, we look forward to finding new ways to incorporate our environmental efforts by selecting more sustainable construction materials and building practices and supporting renewable energy and biodiversity initiatives. We will continue to provide top-tier management services for our residents and focus on implementing more community-building events and amenities.
We will constantly seek opportunities to better ourselves and the world around us – whether it’s through new sustainability measures in our homes or internal efforts. Internally, we aim to make our DEI initiatives a top priority and we will continue plan to engage and support the communities we live and work through volunteering and charity.
It’s going to be an exciting 2023 here at Quinn Residences. Thank you for following us on this journey and we hope you stay along for the ride! To learn more about Quinn Residences and our communities, get in touch with us, or sign up for updates, please visit our website www.live-quinn.com