Opportunities for Partnerships
The North Texas LGBTQ Chamber connects businesses and the community
When Traswell C. Livingston III, president/CEO of AIDS Services of Dallas (ASD), participated in the LGBTQ Chamber Foundation’s LGBTQ Leadership Institute program (Class of 2023) he realized some of the partnership opportunities in store for ASD and the Chamber.
“When I participated in the LGBTQ Leadership Institute, it exposed me to business owners and organization leaders,” Livingston says. “So, one of the biggest benefits to me, as a Chamber member, is the opportunity to work with other members. When we had a contracting opportunity, we solicited partners within the Chamber.”
For 37 years, ASD has served as a housing provider in the community for low income individuals and families living with HIV.
Livington’s organization recently partnered with Rusty Thornton and the company he co-owns with Ed Sanchez, Jr., Key Property Management, to manage one of its latest apartment developments, LA MAISON at 511. The brand new 16-unit apartment complex in Oak Cliff has been in the works since 2017. It offers several different floorplans ranging from efficiency suites to one bedrooms.
Thornton and Sanchez created Key Property Management, a four-year-old full-service property management company specializing in managing single- and multi-family housing.
“It was a gravitational fit that brought this idea into reality,” Thornton says. “We wanted to provide a place where we were not only owner-centric but also tenant-centric. We wanted to create longevity with tenants, take care of owners’ investments and create forever homes for tenants. It’s a different approach that’s innovative and transformative; there’s not that mentality in the market, and this is what makes us different.”
In an attempt to provide innovative property management services, Thornton and his partner Sanchez decided to create their own company, Key Property Management, which started with one property and now handles close to 40.
Thornton, who earned his real estate license five years ago, was out to set their company apart from other property management firms.
“We want quality over quantity and look for landlords who take care of tenants and properties,” he says. “We want to create a positive tenant culture and make sure our tenants are happy with where they’re living.”
Key Property Management is not just present at its properties, but also performs semi-annual inspections and handles issues almost immediately. It also works preventatively to cut off potential problems before they start.
“That has been successful for us,” Thornton says. “It’s just me and my partner behind the scenes making sure we follow property codes, take pragmatic approaches to issues and potential issues, and are constantly looking for areas of growth. It’s our very good working dynamic that helps us be successful in how we operate and present our company to tenants and landlords.”
In addition to working in real estate development, ASD partners and collaborates with the community and private developers to lend housing expertise to help their occupancy with tenants who may be receiving housing subsidies.
“We educate them about subsidy programs and how they work,” Livingston explains.
He notes that there is a huge barrier in the community and country with acceptance of these subsidies, particularly in the Dallas area.
“Many people are being denied housing in the community because they don’t have earned income at the rate of the private market, which earns three times the rent,” Livingston explains. “With a housing subsidy, tenants are receiving assistance with up to 70% of their housing cost. They make three times their rental portion but, to keep it affordable, it’s capped at 30%.”
ASD worked with the Key Property Management team on understanding the many housing subsidy programs. This allows Key Property Management to focus on compliance and day-to-day requirements of housing, leasing, renting, maintenance, etc.
“We’re helping them understand our governance on leasing and income biases, fair housing discrimination and supportive housing programs, in addition to why we do second chance leasing and help people with resources who may have a low credit score or lower income,” Livingston explains.
In addition to its partnership with ASD, Key Property Management has experienced other benefits since it joined the Chamber almost two years ago.
“This is a great avenue for us to network and get involved with the community, as well,” Thornton says. “The Chamber does a great job in bringing the community together with events and helps get our name out there. We look to the Chamber first to see who can help with our needs. We are excited to be an active member of the Chamber!”
As a Chamber Ambassador, Thornton also enjoys getting to know other local business owners and helping them navigate through the Chamber.
Livingston credits the Chamber as the connector that brought ASD and Key Property Management together.
“We couldn’t do what we do without a great partner like the Chamber,” Livingston says. “We look forward to partnering with other businesses in the community in the future.”