INVESTOR REVIEW
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PropertyManagement for the Serious Investor: Q&Awith Robert Way
A s rental investors build their real estate portfolio, at some point they face a critical decision: continue man- aging their assets themselves or partner with a property management company. Robert Way is uniquely positioned to provide guidance to those investors considering their best path forward. As president, property and asset management division for NRT LLC — the largest resi- dential brokerage company in the United States, a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), he oversees single family rental (SFR) property management, vacation rental and REO operations, which include a portfolio of 18,000 investment homes valued over $4 billion. What are the benefits of outsourcing property management for an inves- tor who has or is building a signifi- cant portfolio? Rental property investment is an attitude, as much as it is a reflection of the
advantages move to property management companies with scaled operations and den- sity of property locations. As a large-scale organization, what benefits do you bring to the table that a smaller, regional firm may not be able to offer? Property Frameworks has local offices in 17 states and 24 metropolitan areas, overseeing $2.5 billion in SFR assets. We have the knowledge, reach and capital to excel in seamlessly supporting clients with growing multistate portfolios. Our strategy is to provide “Services Designed for the Serious Investor.” We have industry-leading, unique services that support rental investment success. We operate as one company, on one system with a common set of best prac- tices developed over years of experience, unlike property management companies with independent franchisees or separate companies acting as a collaborative group.
information exchange and our under- standing and proven performance to their desired investment metrics. Our world is now anchored in tech- nology – how has it helped Property Frameworks create a more seamless experience for investors and tenants? Advancing technology has sig- nificantly improved communication overall, while at the same time increas- ing expectations. We are open 24/7 and focus on prompt response. We also invest in technology to drive improvements to core outcomes. We now offer tenants multiple pay- ment options, so they can pay rent via their bank account, credit card or at over 24,000 retail locations. This drives timely and consistent rent collection and limits excuses for nonpayment. We are testing electronic locks, which significantly increase asset security while reducing rekey charges over the long term. We are also testing enhanced property mapping, which provides superior HD images and 3D property views to increase marketing success. What are some challenges that seem to be common for large-scale investors? We are seeing home price appreciation making it harder to find strong invest- ment properties in popular metropolitan areas. This has pushed investors to ex- plore and expand into different markets. Being part of NRT, we can help bring the significant resources of the largest res- idential real estate brokerage, operating in 50 of the 100 largest metropolitan areas, to the investment acquisition process. •
size of a property portfo- lio or the source of funds. Basic business success is driven by revenue and expense management, which is true with rental properties. Attracting and securing the best tenant drives revenue sustain- ability and growth. Smart expenditure on property preventative maintenance, repair oversight and im-
Property Frameworks currently manages several large investor portfolios. What are the main pain points that you are able to solve for these clients? Larger investors are typically looking for standard services and pricing across their port- folio, data to feed their investment analytics and achievement of perfor-
ROBERT WAY President
provements stabilizes expenses and builds asset appreciation. Property management companies focused on client investment success pro- vide critical tenant support and property management services beyond the capabili- ty of a do-it-yourself approach. As investor portfolios grow in size and geography, cost
mance goals. Our core service supports standard pricing, process and procedures across all markets. Our investors benefit from our part- nership approach to tailoring robust
For more information, visit www.propertyframeworks.com.
INVESTOR REVIEW :: 9
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