As a Mexican entrepreneur, Genaro Diaz Lozano has a keen understanding for what it takes to succeed in the property management business while providing exceptional opportunities for communities of all backgrounds, including the Hispanic community. Among the ways in which GreenWater is able to do this is by offering bilingual services in all properties. This has proven to be vital to the firm’s success. While the demand for bilingual services is on the rise in multifamily properties, the supply of such services remains limited. By providing bilingual services to residents, GreenWater is able to provide them with the ability to communicate in the language that is most comfortable for them while ensuring optimal communication between residents and staff. Not only does this help to eliminate the risk for miscommunication, but it also helps to boost the quality of life for residents.
In many instances, it is the small details that can make a significant difference in terms of the satisfaction of residents and the quality of life that they are able to enjoy in a multifamily residence. This is something that Genaro Diaz and GreenWater Investments understand. More and more multifamily properties are slowly coming to recognize that they simply cannot afford to overlook the needs of a diverse resident base. This is particularly true when it comes to the Hispanic community, which is currently the fastest-growing segment of the country’s population. According to 2000 Census data, the Hispanic population is expected to expand to 103 million people by the year 2050. The ability to provide the Hispanic population with amenities, such as bilingual services, is of particular importance due to the fact that the Hispanic population has a stronger tendency to rent than other groups.
Despite these numbers, many multifamily properties have been slow to recognize and address the needs of the Hispanic community. Traditionally, this industry is one that has eschewed change. Unfortunately, a one-size-fits-all mentality is one that simply will not work moving forward. Even properties located in markets that are not historically heavily dominated by Hispanics can benefit by ensuring they understand their renters and the needs of their diverse resident basis. While Hispanics tend to be more heavily represented in such states as Texas and Florida, almost all states are now experiencing increasing numbers of Hispanic renters.
Ultimately, it is a matter of property management firms adapting their business strategy. In select markets, it can prove to be important to not only offer bilingual services but to also provide dual language property signage. Since GreenWater Capital has several properties positioned in Jacksonville as well as Dallas, it is able to assist people in relocating throughout any of its properties.
Learning to appeal to Hispanic customers is ultimately a sound business decision that not only helps customers to feel more comfortable but also works to make a vital culture connection, thus setting the stage for improved investment returns.
