In more ways than one, the business of real estate is in flux, and the players that are making big moves are the ones that are finding ways to adapt, modernize, and grow with the times. In all of those senses, Holt Meadow is ahead of the curve.
But let’s backtrack a bit: Holt Meadow is a boutique property management group with a focus on Ontario’s multifamily rental housing market. Oren Turkienicz, CEO of Holt Meadow, explains that the company was founded on the premise that the rental market is “seeing a renaissance,” and is in need of a property management firm to “change along with it.”
“We want to offer a higher end or a higher focus customer service approach to not only the landlords and owners, while bringing them high returns on their investments, but also to tenants. Because we think, due to these changes in the rental landscape, there is a different expectation on service delivery, and we think we can bring that,” Turkienicz says.
As for how the company positions itself to provide a superior level of front-facing service, Turkienicz explains that it stems from what’s happening in the company internally.
“We have a really strong team with a lot of industry experience — institutional experience, property management and asset management experience — who understand and know how to deal with things on a timely basis,” he says. “Things happen within a blink of an eye. There could be a flood, there would be cracks in foundations. Property management is always putting out fires, and it's all about how you handle yourself under pressure, and understanding the next steps and who to call.”
Bearing in mind how critical the behind-the-scenes team is in the fast-moving business of property management, Holt Meadow puts a strong emphasis on employee management.
“At a high level, effectively, it's ensuring that everybody understands their role, and ensuring that everybody takes ownership and accountability in their role,” says Turkienicz. “It's easy to get fatigued in this business. It's a very hands-on business that focuses on a lot of minutia, and it's easy to get disenchanted with it. So from our perspective, it's important to keep employees engaged, making employees feel like they're owners, having them feel that this building is theirs, and giving them accountability.”
Employee management is Daniela Douglas’ forte. Douglas is the Senior Vice President of Operations at Holt Meadow, and her mandate is fostering an environment she calls “modern corporate.”
“We still operate with a corporate structure, and that corporate structure comes into play when we talk about the way we conduct business, the way we interact with external stakeholders, our investors. We also extend the same approach to our vendors,” she says. “But we’re also modern at mind and behaviour. We have a very casual atmosphere when it comes to the executive team. We are visible, we are reachable, and none of us have a closed-door policy.”
Douglas emphasizes that they put a lot of stock in employee feedback, and implementing that feedback when it stands to improve internal operations.
“We do have a very strong and well-defined policies and processes, however, we look to our employees to let us know if what’s on paper is working as it’s intended in real life,” she explains. “And when feedback is implemented, we communicate that to the entire team, so the credit goes to the person who is proposing the change. That engages the team, motivates the team, and sets an example where people feel they are valued — and no one is taking credit for their for their hard work.”
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Douglas also points out that Holt Meadow offers competitive wages and benefits, and touts a “top-of-the-line” incentive program. And, when it comes time to fill a role, they prioritize promoting from within.
Having worked for big names in Canadian real estate, like CAPREIT and Starlight, Douglas knows well that making employees feel empowered and heard helps with employee retention which, in itself, sends an important message to stakeholders about the health of the company.
There are other ways in which Holt Meadow is fulfilling its “modern corporate” mandate. One of the big ones: using the latest technology to ensure smooth operations and seamless communication. In fact, Turkienicz describes proptech as one of Holt Meadow’s main priorities.
“QR codes, for example. We think those are a great tool for residents to quickly provide input or quickly get to a page where they can submit a request. We've looked at updating or integrating higher quality VAS systems; either integrated directly into this building system or overlaid onto an existing system on an existing building. It’s all about facilitating this sort of 'seamless' feel,” he says.
“I think what sets us apart is that we're not afraid to get involved pre-construction, in terms of consultation or an advisory role — in fact, we prefer it. It makes designing the building operating systems, VAS systems, security systems, and tenant relation systems much easier, when you're involved early.”
This article was produced in partnership with STOREYS Custom Studio.
