For this Asset Management Fridays edition of the show, Chris Jackson from Sharpline Equity joins us to talk about renewal management now versus a few months back! Chris is a multifamily investor and syndicator with 10 years of experience, who has raised over 12 million dollars and completed over 500 unit transactions. Chris weighs in on the value of having more communication touchpoints with tenants now that so many people are canceling leases. This strategy also works when it comes to keeping track of whether a renewal plan is working – simply gauge if tenants are staying or leaving and you’ll know! In sum, Chris swears by the importance of being a good people person when it comes to asset management, talking about how it benefits everything from renewal management to delinquency management, resident marketing, community development, and teams on-site. Other takeaways from Chris today include how renewal management should change on a property over time, and a few lessons he learned after trying to scale a single-family portfolio by applying a multifamily lens to it. Tune in for a brief but informative chat about best practices for renewals with Chris Jackson today!
Key Points From This Episode:
- Chris’s real estate credentials and passion for bringing technology into asset management.
- Perspectives on how much asset management has changed in the last two months.
- How to approach residents about renewals and units in the current climate: more touchpoints.
- The cycle of how renewal management changes overtime after a property is bought.
- A story of things going awry while scaling a single-family portfolio with a multifamily lens.
- How Chris tracks, if a renewal plan is working; are residents staying after the renewal?
- Our guest’s views on renewal management changing over the next five years.
- Chris’s superpower and the use of relationship-building for good asset management.
- Different forms of communication Chris uses to suit his tenants’ preferences.
“Renewal management looked like one thing before. Renewal management now in the last two months looks different.” — Chris Jackson [0:01:27]
“Relationship building affects all of the pillars of asset management from renewal management to delinquency management, resident marketing, community development, and your team on-site.” — Chris Jackson [0:05:38]
Links Mentioned in Today’s Episode