The Houston Chronicle talks with Terri Clifton, President of Better World Properties LLC

Terri Clifton, President of Better World Properties LLC, had the distinct pleasure recently to speak with Katherine Feser, reporter and researcher with the Houston Chronicle, and discuss how Better World Properties and the Better World Family of Companies are making the apartment world better.

Continuing the discussion, we are often asked by clients and colleagues…

How Do You Consistently Outperform the Apartment Market?

  1. Experience

Nothing replaces hands-on, roll-up-your-sleeves experience when restoring life to an apartment property. Whether with an apartment property in complete disrepair with minimal occupancy and bringing it to full restoration and stabilization, or simply unearthing a hidden gem of a property that has not been fully optimized, managing these processes can make or break an apartment investment.

With decades of experience in the Texas multifamily industry, the principals of Better World Properties have an unparalleled understanding of the T exas multifamily real estate market and where opportunities abound and how to maximize return on investment. The principals have been apartment leasing consultants, regional managers, process consultants, rehabilitation and reposition experts and new development managers. This is experience you cannot learn in a class, in a webinar or in one job. This is experience that is hard earned and learned over decades.

Vision, experience, management of staff, vendors and supplier services are key to success.  A responsive, watchful eye on assets as if they are your own makes decisions concise and purposeful.

  1. Hard work.

One more phone call. One more meeting. One more question. Going the extra mile can mean the difference between 3-5% extra return above competitors. Knowing where to look, where to ask. Understanding legislation and monitoring regulatory compliance all add up to success. As active members of local, state and national apartment associations and regulatory boards, keeping a hand on the pulse of the apartment industry translates to better returns for apartment property owners.

  1. Don’t think outside the box. Think like there is no box.

During the last five to seven years, Class A apartment developers enjoyed a “Build It and They Will Come” market. They built and the tenants came. Today, we have a shift in the marketplace with an overabundance of Class A product. Class A apartment owners and developers are also currently faced with balloon debt. Shifts are necessary to manage this critical timing. Understanding this shift by getting in front of the curve and providing viable financing, property management and apartment process improvement alternatives is why the Better World Family of Companies is known as the Apartment Lifecycle.

In today’s market, Class A new development apartment properties must now strategically and actively PRE-market long before punch out. Have optimized websites, reputation creation, active and engaging social media and most importantly experienced boots on the ground are now keys to success. Smart apartment tenants are shopping earlier in the process and your property needs to be forefront and ready, well positioned in front of this market shift. Bringing occupancies up to the desired levels and working through financing options to relieve debt burden is why the better World Companies is a sought-after source for apartment management and financing solutions in the Class A space.

In the value-add apartment Class B and C space, we are often asked: is it possible to transform this Class C (or Class B) property in a pre-mature or challenged market into a Class B (or higher) property on time and within budget? The answer? It depends. On what? Making money on the buy, understanding market dynamics, understanding the intricacies of the rehab and reposition process, optimizing financing to lower debt burden, and more. Where is your property on this spectrum? It depends. Success comes from an intimate understanding of not only the current marketplace and the initial vision, but also the undercurrents in the marketplace that may not be evident to the untrained eye. This comes only from experience and hard work (see number 1 and 2 above). Apartment owners and investors attempting improvements and upgrades without experienced management sadly often find expensive lessons await that quickly chip away at ROI.

If you would like to learn more about our Texas apartment property management services, apartment process improvement, multifamily financing solutions and how we consistently produce above average returns for our clients, please give us a call. We love talking about apartments.

To read more about Better World Properties and the Better World Family of Companies in The Houston Chronicle article, click here .



[hubspot type=form portal=8919002 id=eca210a5-a669-4ed5-bb5c-fe78a758631f]