Jamkee Properties: Space for more growth
Jamkee Properties
Established: 2018\ Location: St. Cloud, Minnesota\ Portfolio: Multifamily and single-familyJamkee Properties was founded in 2018 by owner Wade Sorensen in St.Cloud, Minnesota. They have grown considerably since then and now manage over 400 units across central Minnesota, consisting primarily of small multifamily apartment complexes and single-family homes. We spoke to Wade to learn more about how Jamkee Properties has boosted efficiency and achieved rapid growth with the help of AppFolio Property Manager.
Units managed
400+
Increase in units managed
300+
Time spent on owner reports
75% less time
“I don't know of any other software that checks more boxes than AppFolio. I’m very pleased with the functionality it gives me.”
After the housing market crashed in 2008, Wade got into the business of flipping houses and buying rental properties, which he did for 10 years. During that time, he worked with several property management companies, but all fell short of meeting his expectations as a property owner. And he wasn’t alone — the St. Cloud rental market was hungry for great service, so he decided to switch gears and become the competition. Wade explains:
“I flipped houses for 10 years and purchased some rental properties. I used about three different property management companies in my area, and I found all of them were underdelivering. So I decided to compete. I started out with only two customers, and that was four years ago. Now we’re up to 400 units. So I wasn’t wrong in identifying the need — the growth has been awesome.”
One of the things Wade believes helps Jamkee Properties stand out from the competition is its approach to service:
“A lot of my owners came to me because they were unhappy with their previous management company. My competition has made it easy on me. When you have the level of communication and the personal touch that we do, it becomes effortless to gain and retain customers.”
In need of a simpler solution
“Before AppFolio, I was using Yardi. I was fairly small, and they were fairly affordable — it made sense at the time. However, I quickly disliked certain things. Owner reports were really time-consuming. I would have to separately download them into an Excel spreadsheet and then rework the entire report with descriptions that would make sense to myself and my owners.”
As Wade continued to scale his business, finding the time to do this became more and more challenging, which eventually led him to look for a new solution. Wade explains:
“The extra time it took me to do reports on Yardi, especially as I got bigger, became more and more untenable, so I knew I had to come up with something better. I think one of the lightning moments was when I was looking at a rental application credit report from a larger property management company in town, and it had a rental section in there with a history of late payments, etc. So I called them up immediately and asked ‘How were you able to get that? Because my software doesn't do that.’ And they said, ‘Well, we use AppFolio.’ So I was very impressed by that.”
Having accurate and comprehensive reports plays a large role in Wade’s ability to build lasting relationships with his owners. Since transitioning to AppFolio, he and his team have been able to complete reports much faster and with more accuracy, which in turn has helped them to maintain visibility and retain their customers. Wade goes into more detail:
“Reporting in AppFolio is so self-explanatory; I don’t have to explain anything other than providing new owners with a brief overview. Owners can bring up the reports in their portal and it’s all right there. I’m able to build trust with them this way. Owners can go back in time and request special reports, specific dates, or formats, and we can create them. I also love the fact that with most of the reporting, you can click on a number and find out more details about it. It’s so comprehensive and interactive.”
One of the main things Wade and his team at Jamkee Properties like about AppFolio is how easy it is to use. Unlike other solutions that are clunky or hard to navigate, Wade feels AppFolio is intuitive and that it has made it easier for him and his team to get work done. Wade shares:
“AppFolio is incredibly intuitive and user friendly. It just makes sense when you go to look for certain things. Having good software also makes it easy to be self-taught. One of the biggest props I can give AppFolio is that it didn’t take me more than a couple of weeks to have it all down pat. And if it wasn’t intuitive, it would have taken me a lot longer.”
Leveraging technology to win new business
“When marketing my business to new owners, I use AppFolio as part of my sales pitch. Of the people we talk to, 95% go with us. In fact, I even had one owner that told me he had already gone with a different company, and I said, ‘That’s fine, but do you want to hear about us?’ And he said, ‘Oh, sure.’ I wasn’t even halfway through my spiel, and he said, ‘Oh, I changed my mind. I’m going with you.’ AppFolio was a big part of that sales pitch.”
At the end of the day, having great service and the latest technology helps Jamkee Properties look professional and make a great impression. Wade shares:
“I come off as more of an expert than my competition does, and I think that’s probably why I have such a high rate of success — not to mention the tools I have in place.”
While learning new software can be overwhelming, when you have an easy-to-use, intuitive system, it can make all the difference when it comes to getting up and running quickly. Wade shares his experience:
“One of the first jobs I had out of college was installing computers in hotels and teaching staff how to use their POS systems. So when I got Yardi, I wasn't too worried about learning it, although I felt like I banged my head on the desk for a few days until I learned it. But then jumping over to AppFolio was a breeze because it was accounting-based software, and I already knew exactly what I was looking for — it was much more intuitive.”
As Jamkee Properties has hired new team members, they have also picked up AppFolio with relative ease, leading to fewer mistakes and saving more time. Wade shares:
“I recently expanded my team and now have 6 full-time employees, with two of them being in the office. Teaching them how to use AppFolio was easy. None of them have issues navigating the software. In fact, I rarely find anything I have to go back and fix.”
Building lasting relationships
“When an owner finds out that AppFolio doesn’t just benefit them, it benefits their tenants and our team — and that from move in to move out, everything is covered — they love that. They also like the online portal. It's a great way for them to go in and look at reports and to see everything. And when I say everything, I mean every single penny that I've ever spent. Overall, my owners are really appreciative of the communication and transparency I offer.”
Space for more growth
Jamkee Properties has been able to scale its portfolio at an amazing rate over the past few years. As Wade and his team look to the future, they want to continue this momentum. Having intuitive, easy-to-use software means they are able to spend less time on manual tasks and more time focusing on what matters — growing their business.
“With AppFolio, I have no limits. It gives me a lot of room to grow, which means I can take on more, and do it in less time.”
Founder & Owner, Jamkee Properties, 400+ units
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