In 1991, Gaylun and Karen Smith started HVM Smith Management Inc., after the apartment acquisition company they were working for liquidated their holdings around Brigham Young University. Starting out with a handful of third party contracts, Gaylun served as the general manager and oversaw maintenance, while Karen directed the accounting and office operations for the company.

Over the years, the couple's mantra of "Do it right, or not at all" was recognized by more apartment owners in the community. Brigham Young University began to recommend the company to apartment owners who were struggling to fill and protect their complexes.

In 2009, Gaylun and Karen became partners with David Bailey and Grant Collard, reinventing the firm under the name Redstone Residential, and in order to facilitate growth and streamline operations in the rapidly-expanding firm.
Currently, the company is the largest third-party provider of student housing management in Utah. Every one of the company's clients has come as a result of recommendations and referrals by University Officials, bankers, appraisers, and apartment brokers.

What We Do

Focus on Student Housing – Redstone Residential specializes in providing consulting and management of student housing. We have distinguished ourselves within the industry by focusing on improving overall asset performance for our clients, while at the same time protecting the reputations and long-term value of properties.

Experienced Student Housing Team – With over 100 years of student housing management experience, Redstone Residential's partners and regional managers have the know-how to make the best of any situation. We actively engage with the universities that we partner with, and partners of the company have served in various capacities with regional apartment associations.

Data-Driven Decision Making – We have developed state-of-the-art systems, procedures, and controls for our management and accounting systems. We rely heavily upon real-time, real-world data for every major decision that we make.

Leading Consultant - We provide consulting services to private developers and investors. Our professionals have pushed many developments through entitlement and approval processes with cities and universities. Our consulting team conducts detailed market analyses and performs due diligence for acquisitions. Additionally, we have saved our clients tens of thousands of dollars in property tax savings through aggressive tax challenges over the years.

Volume Purchasing Programs – Our purchasing programs benefit clients through economies of scale. We have close relationships with local suppliers and service companies in order to secure the best rates and pass on savings to client properties.

Partners

J. Gaylun Smith

Gaylun is the Founder, President, and Principal Broker of Redstone Residential. He brings over 33 years of "on the ground" management experience to Redstone Residential. He began his career in the property management industry as a maintenance manager in 1976, as a college student. After graduating from Brigham Young University, Gaylun became General Manager for the Busch Corporation, an apartment development company, managing development and construction for large student housing properties, including Centennial Apartments and Raintree Apartments in Provo. Gaylun served as Vice-President for the Oman Corporation, an apartment acquisition company, starting in 1981; during his tenure with the Oman Corporation, he managed the operations of several thousand beds of student properties. In 1991, following the liquidation of the company's portfolio, Gaylun established Redstone Residential as the premier management company for student housing in Utah County. He has managed thousands of beds for decades in every capacity imaginable and brings a wealth of knowledge and experience to the team.

Gaylun is very involved in his community in various positions for his church, as well as leadership positions for Boy Scouts of America, most recently serving as a Stake President for his church, and as the Sector Chairman of the Utah National Parks Council for the Boy Scouts. Mr. Smith holds an active real estate broker license in the State of Utah.

Grant Collard

Grant serves as the Director of Finance for Redstone Residential. His responsibilities include overseeing investor relations, finance, and accounting operations for the company's regional portfolio. Prior to his time at Redstone, he worked in various facets of the real estate industry, including real estate brokerage, mortgage finance, and insurance. He also has experience as a consultant for developer group NAIOP, where he performed feasibility studies on commercial development costs in 13 different cities.

During his time at Redstone, Grant has turned around several struggling multi-family developments, working closely with owners to push rents, while renegotiating with vendors in order to boost NOI. Grant's valuation expertise has yielded dividends for his clients, as he directs the firm's property tax valuation challenges each year.

Grant is a graduate of the Marriott School of Management at Brigham Young University, where he received the Bicentennial tuition scholarship, as well as the Peery Real Estate scholarship. While at BYU, Grant co-founded a 501(c)3 non-profit called Community Reach, which continues to operate in Guatemala. Grant holds an active real estate license and commercial appraisal license in the State of Utah.

David Bailey

David is the Director of Operations for Redstone Residential. He directs our regional managers, property managers, as well as our maintenance staff. David joined the Redstone Residential team with hands-on experience in property management as a licensed real estate professional and property owner and manager. David is responsible for the day-to-day operations management of the company's regional portfolio. David's main focus is to achieve continual improvements in the operational efficiency of the company's properties. David's areas of expertise and responsibility are many and varied – he directs the firm's maintenance and facility operations, manages construction and capital expenditure projects, as well as oversees leasing and advertising.

Prior to joining Redstone, David was an account manager for the largest apartment web site and online payment provider in the United States. David managed the online web sites and payments for a growing portfolio of clients, which included 531 properties totaling 53,987 units.