A new trend signaling the modernization of the single-family property management industry. What was once all local ‘ma and pa’ businesses has become national-business platforms now designed for Wall Street backed banks and real estate investment funds.

SALT LAKE CITY, UT / August 15, 2023 / Inc. revealed today that Northpoint Asset Management, Inc. ranks No. 2,380 on the 2023 Inc. 5000 list, for the fourth consecutive year, of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment-its independent, entrepreneurial businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000.

Northpoint’s Chairman and CEO, John M. Laviter said about the ranking, “as we reach new heights in our ranking and continued growth it is incumbent upon Northpoint to maintain the same basic methods that brought our success in the first place. That means we resist the temptation to be lazy, but instead amplify hard work, a positive attitude – which is increasingly harder to do, use the most efficient best practices in our industry, and endeavor to operate at a world-class level which each member of Northpoint can be proud of.”

For as long as anyone living can remember, single-family property management has been a service offered by local ‘ma and pa’ type property managers – that has all changed in the last decade. Now, national single family non-franchised property management platforms driven by technology and centralized operations are dominating the space. Northpoint, together with industry peers like Home River Group, Evernest, and Pure, are racing to capture the opportunity to modernize the old property management model. It’s working. These national platforms now manage tens of thousands of single-family properties nationwide, many of which are owned by Wall Street backed real estate investment funds.

The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year’s Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.

For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23.

“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000-with the fast growth that requires-is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”

Tyler Hartle, Vice President of Personnel states, “for the fourth consecutive year, Northpoint secured its spot on the prestigious Inc. 5000 list, a testament to its remarkable growth trajectory. This achievement is credited to Northpoint’s unwavering commitment to foster a down-to-earth and uplifting culture, which forms the backbone of the Northpoint’s continued success.”

Read the full press release here.

Read the Article here on Page 35

Company Culture
That Focuses on Growth

Northpoint Asset Management sees its culture
as a crucial factor to its success.

When the real estate market crashed in 2008, John Laviter, chairman and CEO of Northpoint Asset Management, wasn’t surprised. Before the financial crisis, he was a general manager at a private equity firm and had raised the alarm about real estate market risk well before the Great Recession. But his supervisor wanted to stick to the firm’s strategy. That experience set Laviter on the path to start his own real estate firm.

“I didn’t want to be placed in that situation again,” Laviter recalls. So, in 2006, he and co-founder Adam Haleck launched Northpoint. The real estate investment firm soon added property management and sales to the mix. That diversification was a good call. When the housing crash happened two years later, Northpoint served the surging demand for property management, as people who couldn’t sell their homes decided to rent the properties instead.

CULTIVATING CULTURE

Macro conditions are important to a company’s success, but culture is the real growth engine, Laviter says. “In the beginning, it’s the hard skills that get you somewhere, but much like an individual’s career, as the company matures, it’s the soft skills that really get you ahead,” he says. Laviter is serious about company culture. While executive bios often focus on qualifications and experience, Laviter’s has a heavy focus on factors like mindset, honesty, fairness, and unbiased strategic decision making.

At a time when companies in all industries are being asked to weigh in on social and cultural issues, Laviter finds that focusing on shared purpose helps to unite. “Businesses should concentrate on the end goal of maximizing shareholder value by providing the best product or service,” he says.

The hiring process backs that culture. Laviter reviews every new hire—no small feat in a company trending toward 500 people—and compensation is based on performance.

MANAGING GROWTH

Many companies strive for growth, but it comes with its own challenges. Northpoint is taking things in stride. Hiring has been tough for some companies in the tight labor market, yet Northpoint ramped up hiring tenfold while keeping turnover near zero.

Laviter is still focused on maintaining company culture. “It’s tough to establish and delicate to change,” he says. He’s proud to set an example, noting that all four of Northpoint’s original partners have remained in place for more than 17 years. “It is hard to keep a long partnership like that. It requires an enormous amount of loyalty, willingness to roll with each other’s eccentricities, and appreciation for their strengths,” he says.

216% 3-Year Growth

12.7% Client Increase

2006 Year Founded

30 Locations

Northpoint Asset Management successfully hosted another training summit in Orlando, Florida, in April for it agents. The summit focused on all things related to property management. The summit was led by Northpoint’s own Patrick Monaghan – EVP, Audley Humes, Designated Broker and Regional Director for Florida and Candice Kinard, VP of Business Development.

“We’re thrilled to have provided another successful training summit and a valuable learning experience to all those who participated,” said Tyler Hartle, VP of Recruiting and Personnel. “Our goal is to deliver the highest quality training to our agents, and this event was a great success.”

Northpoint, an INC 5000 business, ranked #154 in the U.S. for growth in Real Estate and #3,478 for growth overall out of 9 million private companies, is an institutional Private Equity Real Estate Investment and Management Company with more than 45 office locations across the US; providing services and orchestrating more than $5.5 billion in real estate assets nationwide. Northpoint manages both commercial and residential real estate for thousands of clients across the US, including some of the world’s largest-institutional investors.

Northpoint Asset Management, a leading provider of property management solutions, recently hosted a successful training summit for their agents at its Lee’s Summit, Missouri location.

The training summit focused on maximizing results, providing attendees with in-depth knowledge and hands-on experience in property management and real estate . The event was led by Northpoint’s team of experienced trainers and experts, including Northpoint’s President, Adam Aleck and VP of Business Development, Candice Kinard. They both provided valuable insights and practical tips to help attendees improve their performance and achieve their goals.

“We are thrilled with the success of our recent training summit,” said Tyler Hartle, Northpoint’s VP of Recruiting and Personnel. “The feedback we received from attendees has been overwhelmingly positive, and we are proud to have provided a valuable learning experience to all those who participated.”

The summit featured a mix of presentation, interactive sessions, and group exercises, all designed to help the agents build their skills and knowledge in all things related to property management. Attendees also had the opportunity to network with other professionals from around the country in their field and learn directly from their peers.

“Our goal is to provide the highest quality training to our staff,” said Tyler Hartle. “We believe that our training summit was a great success, and we look forward to hosting similar events in the future.”

Northpoint, an INC 5000 business, ranked #154 in the U.S. for growth in Real Estate and #3,478 for growth overall out of 9 million private companies, is an institutional Private Equity Real Estate Investment and Management Company with more than 45 office locations across the US; providing services and orchestrating more than $5.5 billion in real estate assets nationwide. Northpoint manages both commercial and residential real estate for thousands of clients across the US, including some of the world’s largest-institutional investors.