Property Management done well
By: Mark Gordon | Deputy Managing Editor
via Business Observer (original article 2010)
In most cases, no one knows a property better then the property manager. This is the case with Ryntal.
Chris Abbott went in several entrepreneurial directions in 2004 after his U.S. Army tour ended.
He became an inventor, a software developer and a commercial real estate investor. He also worked in land development for some of the Gulf Coast’s most respected homebuilders and developers.
But it turns out Abbott’s best directional decision, so far at least, was to start a multi-family residential and commercial property management company amid a crippling recession.
That company, which Abbott founded as a one-man show in October 2008, is now poised for a growth spurt. The Review first profiled Abbott and the company, Ryntal Property Management, in its special issue on young entrepreneurs last year. (See Review, 1/23/09.)
Ryntal has since hired eight employees, with plans to bring on four more inside office clerks and 12 additional rental agents this year. Abbott, 32, projects Ryntal will reach at least $600,000 in revenues in 2010, when it will also open two retail apartment rental stores.
Abbott even recently brought on a business partner, a CPA and former accounting executive with several international construction and real estate firms based in the Washington D.C. area. The partner, Tom Wagenhauser, joined the company last year.