With its new partner, Mynd more than doubles its size to over 8,000
units
OAKLAND, Calif.–(BUSINESS WIRE)–Mynd
Property Management, a property management firm serving the small
residential sector with a combination of on-the-ground experts and
innovative technology, has merged with RentVest, a property management
company operating in major metro areas nationwide.
Combined, the new entity forms one of the largest small residential
property management firms in the U.S. The small residential sector
includes all single-family rental (SFR) homes and multifamily properties
with 50 units or less, where the majority of U.S. residents reside.
Mynd expands its footprint to 16 markets nationwide, including existing
markets of the Bay Area, San Diego, Sacramento and Seattle. The bulk of
the 4,000-plus RentVest portfolio is located in Phoenix, Reno and Las
Vegas. Additional markets include Dallas, Atlanta, Portland, Vancouver,
Tucson, Denver, San Antonio, Houston and Tampa. In all, Mynd oversees
more than 8,000 units on behalf of its property owner clients.
“The RentVest team shares similar values to ours, and we believe they
are a perfect fit culturally,” says Doug Brien, CEO and co-founder of
Mynd. “We’re excited to collaborate on best practices and create a
best-in-class nationwide service.”
Colin Wiel, chairman, CTO and co-founder of Mynd, says, “This merger is
a huge step forward in our goal to become the first company to scale
property management for the small residential industry. By leveraging
technology, we hope to transform the industry and scale to over 100,000
units under management within a few years.”
Mynd’s vision is to offer investors easy access to high-caliber
investments and property management nationwide. The partnership between
Mynd and RentVest moves the company closer to that goal by providing
investors access to strong rental markets, such as Phoenix, Las Vegas
and Dallas.
Under the leadership of Vincent Deorio, Mynd’s director of M&A, the
company continues to target property management partners whose core
values align with its own.
Pursuant to the merger, RentVest co-founders and principals, Jacob Ash
and Benton Cotter, join Mynd’s leadership team. Ash and Cotter bring
decades of experience in the property management and real estate
investment sectors to Mynd.
“We were very impressed with Mynd once we started learning more about
what they were doing, and how they were doing it,” explains Ash. “The
company’s business operation is built for scale, which will further
enhance our offering to property owners,” he adds.
“Teaming with Mynd means that we gain additional resources that will
further streamline our operations and improve our service,” adds Cotter.
About Mynd Property Management
Mynd Property Management serves the small residential sector with
on-the-ground experts in all of the regions it serves. Headquarters in
Oakland, Calif., Mynd’s team of property management professionals and
technology combine to boost efficiencies for property owners, and
improve the rental living experience for residents. Currently, Mynd
manages over 8,000 units in major metros nationwide. The firm plans to
expand into additional markets in 2019 to provide real estate investors
with access to fully managed, income-generating properties in markets
with strong employment and rental growth.
About RentVest
RentVest in a national property management company based in Mesa, Ariz.,
offering high-quality and affordable property management services
nationwide. RentVest manages income-producing properties in Phoenix,
Salt Lake City, Tucson, Denver, Dallas, Houston, San Antonio, Portland,
Atlanta, Vancouver, Reno, Las Vegas and Seattle.
Contacts
Stacey Corso
[email protected]
Phone:
(415) 672-6460
