Rocktown Realty Lands Key Contracts
February 01, 2018
HARRISONBURG — Less than three weeks into 2018, Rocktown Realty already is set up to add a significant amount of new revenue to its books.
Bernard Hamann, co-owner and chief marketing officer for the company, said it has struck deals to take over management of 180 rental properties in Harrisonburg and 10 property owners associations in Harrisonburg, Rockingham County and Franklin County.
“For us,” he said, “obviously it’s kind of a transformational shift in that side of our business.”
The 180 one- to four-bedroom rental houses in the city that Rocktown will add to the more than 300 it already manages represent the portfolio held by Christophel Properties, Hamann said. The local, family-owned company will stop managing its own properties on March 1.
Rocktown also has assumed management of 10 POAs Old Dominion Realty was managing. Old Dominion decided to get out of that segment of the industry, and Rocktown submitted successful bids to each association to take over management duties.
With so much new business coming onto the books, Hamann said Rocktown will need to add four or five full-time employees to its 12-person staff.
He said Rocktown has hired a another property manager, is close to hiring a maintenance coordinator, and might need another administrative position. It also hopes to retain two Christophel maintenance employees who would join Rocktown subsidiary Valley Maintenance Services, which does 95 percent of its work for the parent company.
On Jan. 1, Rocktown assumed management of the POAs for Blakely Park and The Townes at Wellington Park in Harrisonburg; Crossroads Farm, The Springs at Osceola and Cedar Pointe Townhomes in unincorporated Rockingham County; Shady Creek and Shady Creek Townes in Grottoes; The Orchards in Timberville; The Townes at Saddlebrook in Mount Crawford; and Emerald Bay Villages in Franklin County at Smith Mountain Lake.
The company managed three POAs before the additions.
Rocktown Realty was founded in 2010 as a property management company and has added real estate sales and POA management to its offerings.
Last year, Hamann said, commissions from the 120 real estate sales it helped broker were roughly equal to revenue from the property management segment.
Bernard Hamann, co-owner and chief marketing officer for the company, said it has struck deals to take over management of 180 rental properties in Harrisonburg and 10 property owners associations in Harrisonburg, Rockingham County and Franklin County.
“For us,” he said, “obviously it’s kind of a transformational shift in that side of our business.”
The 180 one- to four-bedroom rental houses in the city that Rocktown will add to the more than 300 it already manages represent the portfolio held by Christophel Properties, Hamann said. The local, family-owned company will stop managing its own properties on March 1.
Rocktown also has assumed management of 10 POAs Old Dominion Realty was managing. Old Dominion decided to get out of that segment of the industry, and Rocktown submitted successful bids to each association to take over management duties.
With so much new business coming onto the books, Hamann said Rocktown will need to add four or five full-time employees to its 12-person staff.
He said Rocktown has hired a another property manager, is close to hiring a maintenance coordinator, and might need another administrative position. It also hopes to retain two Christophel maintenance employees who would join Rocktown subsidiary Valley Maintenance Services, which does 95 percent of its work for the parent company.
On Jan. 1, Rocktown assumed management of the POAs for Blakely Park and The Townes at Wellington Park in Harrisonburg; Crossroads Farm, The Springs at Osceola and Cedar Pointe Townhomes in unincorporated Rockingham County; Shady Creek and Shady Creek Townes in Grottoes; The Orchards in Timberville; The Townes at Saddlebrook in Mount Crawford; and Emerald Bay Villages in Franklin County at Smith Mountain Lake.
The company managed three POAs before the additions.
Rocktown Realty was founded in 2010 as a property management company and has added real estate sales and POA management to its offerings.
Last year, Hamann said, commissions from the 120 real estate sales it helped broker were roughly equal to revenue from the property management segment.
