Evernest Property Management Show Episode 155: We've Bought 30+ Property Management Companies... Here's What We Learned
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Aug 4, 2025 Gray Hall, a key player in acquisitions at Evernest, shares invaluable lessons learned from buying over 30 property management companies. He reveals that acquisitions often come with unexpected challenges, including the intricacies of business integration and the importance of building trust with new owners. Hall emphasizes the necessity of local market knowledge and a dedicated acquisition team. Plus, he dives into the complexities of managing diverse owner expectations and the profound impact on employees during these transitions.
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Acquisitions Are Just More Work
- Acquisitions often feel like buying work, not a celebration.
- The real challenge starts post-closing with integration and ongoing operational efforts.
Challenges of Out-of-State Acquisition
- Colorado acquisition was especially challenging due to market differences and remote management.
- Team shortages and seasonal market nuances caused owner losses and operational stress.
Use Dedicated Acquisition Teams
- Build a dedicated acquisition integration team for smoother transitions.
- Direct owner calls early help build trust and improve retention post-acquisition.