In this episode of Deal Flow Friday, David Moghavem sits down with Brendan Van Deventer, Co-Founder and Managing Partner of CRES (Consolidated Real Estate Strategies), for a tactical, operator-level discussion on what asset management actually looks like in today’s challenging multifamily environment.

Brendan breaks down the realities operators are facing post-rate hikes, including muted rent growth, rising expenses, and operational inefficiencies that are now impossible to ignore. Rather than focusing on surface-level reporting, the conversation centers on execution and discipline at the asset level, using Brendan’s Four Ps framework: People, Product, Pricing, and Promotion.

The episode dives deep into why on-site teams remain the highest-leverage variable, how retention has become one of the most important drivers of cash flow, and why many traditional renovation and marketing strategies no longer pencil. David and Brendan also explore collections discipline, backdoor eviction risk, renewal strategy, SEO-driven marketing, and why “back to basics” operations are outperforming flashy tools in this cycle.

This conversation is a must-listen for operators, asset managers, lenders, and investors managing through distress or repositioning assets heading into 2026.

Key topics covered include:

• The Four Ps asset management framework
• Retention vs. turnover economics (the 3x rule)
• Expense pressure from insurance, payroll, and marketing
• SEO and PPC vs. bloated ILS spend
• Collections discipline and de-risking bad debt
• Why clean operations and execution now drive real ROI

A practical playbook for navigating today’s multifamily headwinds.

Chapters:

00:00 Introduction to CRES Asset Management
05:21 The New Expense Stack: Insurance, Payroll, and Cost Shock
08:37 Marketing Spend Is Broken: Why More Zillow ≠ More Leases
12:06 SEO, PPC, and the Shift Away From ILS
15:33 entralization: When It Works, When It Backfires
21:03 Pricing Strategies and Tenant Retention
23:10 Why Retention Is Worth 3× New Leasing
28:24 The Backdoor Eviction Problem Operators Are Facing
34:41 FlexPay, Guarantors, and De-Risking Collections
37:21 What Dollars Spent on a Property Yield The Highest ROI Today?
42:39 Future Vision for Cress

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