Working With Your Property Management Team with Courtney Vitek

Today’s guest on Prosperity Through Multifamily Real Estate Investing podcast is Courtney Vitek from MLDC Management. She is accountable for day-to-day operations and client relations at her company and progressed quickly in her 11-year tenure. She began as a leasing agent in 2008 at Greystar and was quickly promoted there as well. Courtney grew her portfolio quickly and significantly at Citygate, and has received many certificates and distinctions since then.

Cody asks about the primary responsibilities of property managers and Courtney explains that it is to execute the business plan of the client, align it with their goals and vision, and make sure they get their returns. They also have to comply with housing laws and ensure residents have safe homes to live in.

Our guest explains that clients should have monthly conversations with her to review budgets, since as a PM, she knows more about the little details. She invites clients to ask questions, try their best to communicate clearly, listen to her, and share a relationship of respect.

Courtney is asked about anything that stands out to be aware of during today’s challenging market cycle with an unpredictable future. She elaborates on how she has noticed that investments are being pushed aggressively to hit certain returns which aren’t realistic.

Following the principle of the necessity of learning more and never assuming that we know everything, Courtney shares how she pursues knowledge. This includes being a member of PAC, which gives her early access to information, engagements with industry peers to hear and learn from their stories, and an invitation to their yearly education conference.