©
ESG
BSR is focused on our company’s impact on our residents, employees, stakeholders and communities where we operate and serve. The mission of BSR is to provide an exceptional living experience for residents at a community they are proud to call home while creating value for our shareholders through strength, profitability and growth. BSR conducts business with integrity and strives for the highest ethical standards by always treating partners, team members, residents and vendors with respect, honesty, and fairness. We believe that any interaction with our company should be a genuinely positive experience and we believe in leaving things better than we found them. This ideology has been integral to our success since the roots of the formation of BSR in 1956.
The following is an outline of the BSR’s ongoing ESG efforts.
ENVIRONMENTAL
BSR has upgraded 5,332 apartment units with smart home and energy management technology. This results in an energy reduction of up to 15-20% for our residents and around 50% savings for any vacant BSR apartment units under this program.
BSR invests in smart waste management across all properties to optimize dumpster capacity and identify contamination issues.
Utilities for 70% of BSR properties are sub-metered. On average, properties that are sub-metered are 38% more efficient than non-sub-metered properties.
BSR uses smart irrigation systems to conserve water through the analysis of weather data.
BSR uses a third-party utility biller providing vacant apartment unit charge backs, energy consumption variance reporting, pre-acquisition energy audits and detection of water leaks.
Air filters in BSR suites are changed and inspected on a quarterly basis.
When performing renovations, BSR uses low-flow toilets, LED lighting, high efficiency fixtures and Energy Star approved appliances.
BSR offers virtual signatures on leasing documents, paperless rent payments, and service requests.
Multiple BSR communities have electric vehicle charging stations for resident use.
BSR has partnered with Blink to provide EV charging stations at many BSR properties.
SOCIAL
RESIDENTS
J Turner Research publishes Online Reputation Assessment (“ORA”) scores between 1 and 100, measuring online review sentiment for all multifamily properties across the United States. BSR’s score consistently ranks in the Top 2 of publicly traded multifamily REITs. BSR’s ORA score was 81.29 for 2024 while the national average ORA score of all US multifamily properties was 63.96.
BSR provides its residents access to a credit builder program, which reports on-time rent payment history and paid-in-full status to TransUnion and Equifax to help residents build better credit scores.
To encourage resident health, wellness and quality of life, 100% of BSR’s apartment communities have on-site pools and fitness centers.
44% of BSR employees chose to live alongside our residents at our communities. This shows the level of pride BSR team members have in our product and also enhances the experience and service provided for all our residents.
EMPLOYEES
BSR is committed to providing a diverse and inclusive workforce. We currently have 46% female and 54% male team members, 64% of which are racially diverse.
For the third year in a row, BSR was named one of the Best Places to Work in Multifamily, and Best Places to Work in Multifamily for Women at the Multifamily Innovation Awards held in December 2024.
BSR provided $1.8 million of employee rent discounts at BSR communities in 2024.
BSR’s Career Succession Program provides a framework for employees to reach their career goals at BSR. In 2024, we promoted 20 team members internally.
Our comprehensive training program of over 1,000 courses offers many options for team members including on-demand, virtual live instruction and in-person training. Many courses are available in both English and Spanish. Topics include fair housing and safety compliance, team member orientation, sales, management development, and virtual reality maintenance skills training. In 2024, BSR employees completed 3,198 courses.
BSR’s Team Member Appreciation Month is a special time to show appreciation to our team members for serving our residents well.
Our annual Celebration of Excellence Award Ceremony recognizes our on-site management teams and the corporate team with awards based on job performance. Our most recent Celebration of Excellence was held in February 2024 in Austin, Texas.
Each quarter, we celebrate team member achievements in our internal newsletter and intranet.
BSR team members have an opportunity to become “BSR Certified” which consists of completing orientation training and taking a certification exam with one of our area proctors. Certifications are available for the following positions: Community Manager, Assistant Community Manager, Leasing Specialist and Service Manager. Team members can pass a test on a variety of position related policies and procedures to show they have a working knowledge of their role.
BSR has kept voluntary employee turnover below the industry average (27.5% in 2024 compared to the industry average of 34.8%). Further, the average tenure of our employees is four years.
BSR team members at the annual Celebration of Excellence Awards.
BSR team members have an opportunity to become “BSR Certified".
COMMUNITY
BSR formed the Home Away from Home Foundation in 2021. The nonprofit initiative provides apartment homes for those needing to travel for extended medical treatment and requiring temporary housing as well as for individuals who need temporary housing due to natural disasters.
In 2024, BSR dedicated an apartment home in Little Rock, Arkansas to a family that lost their residence because of a catastrophic event.
In 2024, BSR provided lodging at a BSR property for multiple families receiving long term medical treatment.
BSR maintains an active partnership with local colleges for yearly summer internship opportunities.
BSR Team members are actively involved in community and nonprofit volunteering resulting in their selection for people to watch lists like 40 Under 40 and 20 in their 20s.
BSR’s Home Away From Home Foundation currently provides housing to victims of natural disasters as well as those traveling extended time for medical treatments.
GOVERNANCE
BSR conducts a company-wide Team Member Satisfaction Survey every year, and the feedback is meticulously reviewed by our executive team. Results are shared throughout the organization, along with action items resulting from the feedback in the survey. A few key responses are highlighted below:
o 94% of our team members say BSR provides them the opportunity to excel in their position through professional development and in-house training.
o 91% of our team members are proud of BSR’s brand.
o 99% of our team members say BSR operates in a socially responsible manner.
o 96% of our team members say BSR’s work positively impacts people’s lives.
o 92% of our team members are satisfied with the workplace flexibility offered by BSR.
o 94% of our team members are satisfied with BSR’s investment in training and education.
o 91% of our team members are inspired to give their best effort at work each day.
o 87% of our team members are satisfied with BSR’s total benefits package.
o 88% of our team members are satisfied with the amount of paid leave offered by BSR.
Our executive management team maintains regular contact with a broad base of investors.
BSR maintains high quality IT infrastructure and active cybersecurity monitoring and protection initiatives.
BSR leadership actively monitors our third-party anonymous whistleblower hotline.
BSR maintains a code of business conduct and ethics, as well as a disclosure and confidential information policy.
BSR has a non-discrimination policy which protects residents and prospective residents from discrimination based on race, color, national origin, religion, sex, family status and disability as covered under the Fair Housing Act.
BSR maintains an employee handbook which is accessible by all team members.
BSR has a Diversity Policy that reflects our commitment toward adding additional members to the board of trustees and senior management team with diversity in business and other professional experience, gender, geography, age, race and ethnicity. BSR’s board of trustees has 29% female representation and 71% male representation.
In 2024 BSR was recognized as a Best Place to Work for Women in Multifamily.
