• Ep. 75 - Managing Through Turbulence with Brett Luskey

  • Sep 19 2023
  • Length: 25 mins
  • Podcast

Ep. 75 - Managing Through Turbulence with Brett Luskey

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  • Summary

  • 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
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