A property management firm spun off from a well-known Rochester company now is under new ownership.
Jon Ortner, of Renters Warehouse-Rochester, acquired RGI Residential Management from Jeff Thisus on May 1. Ortner says this deal expands the number of Rochester properties he manages to 253.
"I decided to relax a little bit. This is really a good fit," said Thisus, who will return to Realty Growth Inc. as a commercial real estate broker after helping with the transition.
Thisus originally bought the property management division of Realty Growth in 2014 from RGI's founders, Ed Pompeian and Bill Kolb. Realty Growth continues to operate as a commercial real estate firm and developer, now under the ownership of Nick Pompeian and Robert (Bucky) Beeman. Ed Pompeian still serves as the president of Realty Growth.
Starting in June, Ortner will move Renters Warehouse in the Realty Growth offices in Suite 350 at 975 34th Ave. NW as "a strategic partnership."
For Ortner, this deal gives a big boost to his Rochester business, which he began here more than two years ago.
"When I wanted to do something different, I chose Rochester even before DMC (Destination Medical Center) broke out. Rochester had the best demographics of all the places I looked," he said.
Ortner was one of the original employees of Renters Warehouse in the Twin Cities. Ortner, with his brother, Kevin Ortner, now own four Renters Warehouse franchises in Phoenix and Tucson, Ariz., Denver, Colo., and Rochester. They manage about 9,000 properties under the four locations.
Renters Warehouse focuses on managing single-family homes, condos, townhomes and apartment complexes of 20 units or less.
"We built the business on working with what we call 'unintentional landlords,'" said Ortner. "We keep it simple with a flat fee and we warranty tenants we recommend."