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Ep. 75 - Managing Through Turbulence with Brett Luskey

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Manage episode 377443718 series 1405479
Indhold leveret af The Multifamily 5 Podcast. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af The Multifamily 5 Podcast eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.
On this episode of the Multifamily Five Podcast, host Mark Allen interviews Brett Luskey, partner at Fairmont Management Company, to discuss strategies for navigating the multifamily market in today's turbulent economic climate. Key Discussion Points The current state of the DFW rental market - vacancy rising, rent growth slowing, increased turnover [00:01:30] Being strategic with rent pricing based on unit types and floor plans rather than property-wide adjustments [00:02:00] The importance of resident retention and "closing the backdoor" with reasonable renewal increases [00:03:00] Labor market challenges - difficulty hiring for properties with small staff counts, proactive retention tactics [00:08:00] Prioritizing capital projects based on property needs and economic conditions [00:12:00] The value of master-metered utilities in Class C properties today [00:23:00] Maintaining strong communication and reasonable expectations with property owners [00:19:00] Relevant Resources Fairmont Management Company website: https://fairmontmanagement.com Brett Luskey's contact information: bluskey@fairmontmanagement.com, 972-284-1045
  continue reading

78 episoder

Artwork
iconDel
 
Manage episode 377443718 series 1405479
Indhold leveret af The Multifamily 5 Podcast. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af The Multifamily 5 Podcast eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.
On this episode of the Multifamily Five Podcast, host Mark Allen interviews Brett Luskey, partner at Fairmont Management Company, to discuss strategies for navigating the multifamily market in today's turbulent economic climate. Key Discussion Points The current state of the DFW rental market - vacancy rising, rent growth slowing, increased turnover [00:01:30] Being strategic with rent pricing based on unit types and floor plans rather than property-wide adjustments [00:02:00] The importance of resident retention and "closing the backdoor" with reasonable renewal increases [00:03:00] Labor market challenges - difficulty hiring for properties with small staff counts, proactive retention tactics [00:08:00] Prioritizing capital projects based on property needs and economic conditions [00:12:00] The value of master-metered utilities in Class C properties today [00:23:00] Maintaining strong communication and reasonable expectations with property owners [00:19:00] Relevant Resources Fairmont Management Company website: https://fairmontmanagement.com Brett Luskey's contact information: bluskey@fairmontmanagement.com, 972-284-1045
  continue reading

78 episoder

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