Chris is joined by Fort Capital CEO Jason Baxter and Executive Vice President Steve Bailey to discuss how the company has executed on its mission to establish a world-class Property Management arm of the organization.

On this episode, they discuss:

➡️ how and why FC got into property management

➡️ cost savings & economies of scale

➡️ how the team utilizes data

➡️ incentivizing folks to think like owners

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Additional Resources

👉 Fort Capital

👉 Jason on LinkedIn

👉 Steve on LinkedIn

➡️ Learn more about Juniper Square: https://bit.ly/45yiYUq

➡️ Check out Better Pitch: https://bit.ly/42d9L0I

➡️ Fort Capital: https://bit.ly/FortCapital

➡️ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/

➡️ Follow Chris on Twitter: https://bit.ly/3BYIjcH

➡️ Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/

➡️ Sign Up for our Newsletter: https://newsletter.thefortpod.com/

➡️ Subscribe to The Fort on YouTube: https://bit.ly/3oynxNX

Timestamps

(00:04:52) How and why Fort Capital got into Property management

(00:10:06) The relationship between FCP and Fort Capital

(00:10:57) Fort’s philosophy around tenant retention and tenant relationships

(00:13:54) The emphasis on face-to-face interaction

(00:15:51) How PM prepares to take over an asset

(00:20:20) Operation Paperless

(00:25:53) Cost Savings & Economies of Scale

(00:30:51) Converting Gross Leases to NNN

(00:32:45) Tenant Improvements and appeasing tenants vs. falling back on the lease agreement

(00:35:29) Bringing maintenance technicians in-house

(00:37:20) Intangible benefit of having in-house PM

(00:40:29) The PM team’s role in underwriting new opportunities

(00:45:09) Adjusting leasing rates

(00:47:46) The Lease Admin team

(00:51:34) The reason to bring leasing in-house

(00:56:58) How leasing is looking at the data coming in 

(00:59:26) Holding 3rd party leasing teams accountable

(01:03:19) What to look for when hiring a great PM

(01:06:40) Using technology in PM

(01:15:32) Re-forecasting

(01:19:03) Why a company with an in-house PM team would still take on 3rd-party

(01:21:40) Effectively communicating with 3rd parties

(01:27:50) The process of onboarding a new 3rd party partner

(01:32:10) Why won’t a lot of 3rd parties manage industrial properties?

(01:35:57) How to incentivize people to think like owners

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The FORT Podcast with Chris Powers is a place where you can find meaningful conversations about entrepreneurship, real estate, investing, and more.

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