All Forum Posts by: Carter Fleck

Hey friends! 👋

I’m doing a deep dive into the property management industry and trying to stay on top of the latest trends across the nation.  Whether it's a small, family-owned PM company or a mid-scale operator with multiple properties -- I am interested in the trends!

My question is: Have you heard of any property management companies (single-family, HOA or multifamily) that have been sold recently in your area—or anywhere in the U.S.? Even if it's just a small, local deal, I’m curious! Whether it’s a mom-and-pop shop or a larger operation, I’m looking for insights into who’s buying and who’s selling.  

Either comment here or message me if you would rather not share publicly!  

If you have any intel (or leads), or even if you know a great source to check out, I’d love to hear from you. 

Looking forward to hearing what’s happening in your corner of the property management world!

Cheers,

Carter

Hey guys!  A really cool report by Apartment List showed VB has one of the fastest growing rent changes in the country at 3.9%.  I wanted to share for all of my like-minded folks out there!

@Jacob Sloop That is good insight!  Let's connect more offline :)

Hey Friends! We manage about 350 units of multi-family apartments in Norfolk, VA and are constantly measuring data/market trends as it relates to leasing, PM churn, and growth in the area. If you have any data that you are interested in sharing, I would love to hear! Generally speaking, how have you seen your PM companies change and shift in the last year and what goals do you have for 2024 given the data (qualitative or quantitative) that you have observed?

Hey Friends!

We have been growing pretty quickly and have gone from 165 units under management to just about 400 in this next month or so.  Because of that, we are looking for a killer PM who wants to hop in and help lead our PM side of the team.  If you know anyone looking who is in the area and interested in talking with me, pass them my way!  Please reach out to me on Linked in for quicker responses.

Here is the linked-in post: https://www.linkedin.com/jobs/...

-Carter

Norfolk, VA

@Joanne Tsai looks like @Patti Robertson is on the ball for you for attorneys.  As far as leads for corporate rentals, I honestly don't know which channels you would rent that out on -- the corporate rentals we have in our portfolio are managed by an outside company.  I would recommend the company we use, but they are not taking on any additional clients for corporate rentals at the moment.  I would assume VRBO or other channels have this option.  A quick google search lead me to this website and many more, so I would do that!

https://www.corporatehousingby...

@Joanne Tsai That is so frustrating! I am sorry you have to go through that. As they say, there are winners and there are learners. Hopefully this won't hit you too hard. I think someone may have mentioned this already, but I would check out two options if you for sure cannot STR:

1) Corporate rentals (30+ day rentals that tend to gross more than LTR).  Since it is close to the beach, you would probably look at 1.5-2x the amount of income if you do corporate rentals where you lease it out for 1-3 months at a time.  Prices should peak in the summer time since it is close to the beach.

2) Rent out the house by room by using a master lease (check the Hampton laws on this).  This would most likely 2x your revenue rather than just renting out the whole house as one LTR lease.

I am over here in Virginia Beach, so let me know if I can help with anything!  Good luck!

Check out Hanger law!  Shoot them a call.  @John Napier works there and is also a part of the BP community.

Cheers,

Carter

@Davis H Son sent you a message!

I just sent you a message with a lead!