Apartment Locators, Property Managers in Houston Cash In On Rent Slump, Say InterFace Panelists
chief investment officer , Allied Orion; Stacy Hunt, executive director, Greystar; Jenifer Paneral, regional vice president , Pinnacle; John Hammond, CEO, Riverway Title." /> From left to right: Gary Goodman, SVP of acquisitions, Passco Cos.; Ricardo Rivas, chief investment officer , Allied Orion; Stacy Hunt, executive director, Greystar; Jenifer Paneral, regional vice president , Pinnacle; John Hammond, CEO, Riverway Title. HOUSTON — While it’s not an ideal time to be a multifamily property owner in Houston, it is a good time to be working on behalf of one. With their clients sitting on excess supply, apartment locators — middlemen who match tenant preferences to properties — are being increasingly called upon to deliver tenants. Locators work on commission, typically earning about 20 percent of the first month’s rent for their services. But in Houston’s soft market, that figure is rapidly rising. Ricardo Rivas, chief investment officer at Allied Orion Group and one of sev...