In the dynamic world of property management, success depends on making informed decisions, adapting to market challenges, and maintaining a competitive edge. Asset Living's underwriting team plays a pivotal role in achieving these goals. Let's dive into their insights on how they collaborate with other departments, drive growth, overcome challenges, and shape the company's future. We consulted with Erich Cotham, Senior Investment Analyst, who provided us with invaluable insights into his department and its pivotal role within Asset Living.
Collaborating Across Teams
Asset Living's underwriting team operates at the intersection of data analysis, market research, and strategic decision-making. They work closely with the business development sales team and Division Presidents to provide essential research and deliverables that guide clients towards profitable investment opportunities.
Their collaborative efforts include sharing reports from various data sources, conducting market surveys, analyzing client proformas, and creating underwriting models for potential deals. These deliverables empower the entire organization to offer clients actionable insights, ensuring informed investment and management decisions.
Driving Growth Through Proactive Underwriting
One significant contributor to Asset Living's growth in the property management industry is the underwriting team's proactive approach. Over four years ago, they began actively evaluating opportunities on the market and sharing them with clients based on their investment criteria. This strategy allowed clients to access a wider range of deals backed by a reputable operator and led to a multitude of management contracts for properties acquired. This approach not only fuels growth but also cultivates and fortifies client relationships by unlocking valuable opportunities and bolstering well-supported proformas.
Adapting to Market Challenges
In the current real estate market, the underwriting team faces its fair share of challenges. Transaction volumes in the multi-family market have decreased significantly, making it difficult for clients to secure financing. Additionally, rising expenses, particularly in the insurance sector, present additional hurdles.
Despite these challenges, the team remains committed to delivering the highest value for our clients. Their focus has shifted towards analyzing potential management changes and identifying opportunities to improve operations, maximizing the value of already-owned assets.
Looking Ahead
As Asset Living continues to expand its footprint, so does the underwriting team. Recent growth includes the addition of a fourth full-time analyst, and plans are in place to expand coverage across the company's offices and markets. This includes specialized asset classes such as student housing, senior housing, and affordable housing.
Moreover, collaboration with the internal data analytics team is set to unlock the power of data integration, creating dashboards for expense averages, market performance surveys, and other tools to enhance the value of their deliverables.
Setting Asset Living Apart
What sets Asset Living's underwriting team apart from others in the industry is its status as a third-party management company. This unique position eliminates any conflict-of-interest pitfalls often faced by management companies with investment arms. Clients can trust Asset Living not to compete with them for deals or compromise their interests.
The team's commitment to candor and realism in client interactions further solidifies these relationships. Instead of telling clients what they want to hear, they offer transparent insights and maintain a focus on long-term relationships over individual deals. Clients can rely on Asset Living's operations team to deliver on promises and achieve realistic performance expectations.
In conclusion, Asset Living's underwriting team is a driving force behind the company's success in the property management industry. Their collaborative approach, proactive underwriting strategy, ability to adapt to market challenges, and commitment to integrity and transparency position them as trusted partners in real estate.
As they continue to grow and innovate, Asset Living and its underwriting team are poised to remain at the forefront of the industry, delivering value, insights, and expertise to clients across diverse markets and property types.
For any questions regarding our properties or services, please feel free to reach out to us via our contact form. To learn more about available career opportunities by visiting Asset Living’s careers page.
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