Magazine article Journal of Property Management

Smaller Firms Opt for Specialization

Magazine article Journal of Property Management

Smaller Firms Opt for Specialization

Article excerpt

For smaller companies, specialization may be in order. This is what Bill Borsari, CPM, believes. As chairman of The Walters Management Company, AMO, in San Diego, he has divested the 27-year-old operation of all property types except for one: community associations.

Looking forward to his own retirement, Borsari began putting together his succession plan about four years ago, just about the time that the markets began to change and fees started shrinking, he says. "I reasoned that a company that managed only one property type and filled that niche very well would be less complex to manage for those following me than if we continued with all the other types we had-and we had everything."

Borsari's view was that in the Walters market area-San Diego County, southern Orange County, and southern Riverside Countythe most stable and growth-promising segment was community associations in general, and large, master-planned associations in particular. And the move made sense from a personnel perspective as well: "The types of people who are successful in the management of homeownership associations are generally more skilled in the people, relationship side of the business than in the complex nature of high-rise elevator office buildings. …

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