Rent Growth Still Expected

Thomas K. Shelton, CAPS, CPM, is the new president of Western National Property Management, the multifamily management arm of Western National Group. Western National Property Management currently oversees the management of over 20,000 residential units, valued at more than $3 billion. In his new position, Shelton will lead a team of real estate professionals who supervise a portfolio of assets owned by Western National Group, as well as assets owned by third-party clients.

Shelton previously served as regional partner of Greystar Real Estate Partners where he supervised a portfolio of 26,000 units throughout the western United States. He is also a past president of the National Apartment Association (NAA) and a member of the National Multi Housing Council (NMHC).

Shelton talks to Online News Editor Anuradha Kher about the challenges of taking on the role of president at such a difficult time, his plans for the company, and why the Obama administration creates uncertainties about investment strategies.

What challenges do you face as president of the company in such troubled times? 

The challenges in this position at the present time are similar in nature to those of my peers across the country. Fortunately, the balance of our portfolio is located in Orange County, Calif., one of the more stable markets in the country, as evidenced by the fact that we intend to see some rent growth in our portfolio next year. So, while we are not immune to the softness of the overall economy, the overall stability of our portfolio will allow me an opportunity to focus on operational excellence, the continued development of our people, continued opportunities for revenue growth and expense reduction, as well as business development.

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