Key takeaways
- Poplar Homes acquires Venture REI long-term portfolio and expands its reach to Phoenix-area where Poplar will operate as Poplar Homes Arizona
- Acquisition empowers Arizona homeowners with national tools to compete with institutional investors
- Phoenix homeowners can now benefit from Poplar’s operating leverage and better financial protection
- Investors can now invest beyond the confines of their location through Poplar’s national reach and robust technology
On June 2, 2023, Poplar Homes announced its recent acquisition of Venture REI’s single-family long-term rental portfolio. Venture REI is a leading full-service property management company headquartered in Arizona. With this strategic move, Poplar Homes has added a portfolio of 152 homes to its already expansive management portfolio, which currently encompasses 15,000+ doors under management. In the new state, the company will operate as Poplar Homes Arizona.
Why Poplar expanded to Arizona
According to Greg Toschi, co-founder and CEO of Poplar, this strategic move aims to level the playing field for individual investors, commonly known as mom-and-pop investors, who often find themselves competing against large institutional players. By combining Poplar’s cutting-edge technology-driven approach with Venture’s deep local expertise, the company believes it can provide a unique advantage to these smaller investors, enabling them to navigate the real estate market and property management more effectively.
Poplar identified the slowing rental market in the state as an opportune moment to showcase the capabilities of its model. By capitalizing on this market condition, Poplar intends to demonstrate the remarkable power and efficacy of its approach, solidifying its position as a leader in the industry.
What’s in it for Arizona homeowners?
Access to data and operating leverage
Poplar’s nationwide presence offers a distinct advantage through access to vast quantities of data. This valuable resource enables the company to leverage comprehensive insights and accurately price properties in any local market. By tapping into the extensive data pool, Poplar ensures that homeowners receive fair and competitive rental prices for their properties, based on real-time market trends and conditions. Furthermore, Poplar’s expertise in operating rental properties gives local homeowners the leverage to compete alongside large institutional investors.
Better financial protection
In addition to giving Arizona homeowners the edge when it comes to pricing and operating their properties, Poplar also offers better financial protection than the industry standard. Residents placed by Poplar Homes are backed by Rent Guarantee and Eviction Coverage which protects Phoenix homeowners from late payments and up to $15,000 in legal costs associated with eviction.
By offering these comprehensive guarantees, Poplar helps mitigate risks for investors but also instills confidence in the management of their properties. With Poplar Homes, one can invest with peace of mind, knowing that their property is in capable hands.
Access to national tools and local property managers
Poplar’s acquisition of Venture REI’s long-term rental portfolio also gives Phoenix homeowners the unique advantage of having access to unmatched technology while maintaining the same level of experience brought by the local expertise of Venture REI.
“We grew our single-family rental portfolio organically and it was important that we provide our clients with a provider that offered a best-in-class experience,” says Venture REI Founder Dan Noma Jr. “Poplar shares our commitment to providing unmatched service. This, combined with its tech-forward, industry-leading platform, offered the best fit for our team and our clients.”
Ability to expand nationwide
Poplar’s reach also enables Arizona investors to expand their portfolio beyond the confines of their location. Poplar operates in 25 markets across 17 states giving investors the ability to run rental properties coast to coast while still offering the same level of service accustomed to Poplar clients.
Homeowners with multiple properties get to see real-time access to their properties’ performance, work orders, occupancy status, and important documents, conveniently placed in one user-friendly dashboard.
Better tools for their renters
Poplar Homes understands that renters are the lifeblood of a rental property business. Hence, Poplar is as committed to delivering best-in-class service to residents.
Poplar gives residents the ability to tour, get approved, rent properties, and pay rent all from the comfort of their homes. Plus, they have access to 24/7 maintenance support and boots on the ground in every market which can help them resolve minor issues and handle bigger tasks.
About Venture REI
Venture REI is a full-service real estate brokerage and advisory firm specializing in the purchase, sale, rental and marketing of residential properties. The company prides itself on its brand of service that is based on integrity, expertise, and efficiency.
Headquartered in Arizona, Venture REI boasts a deep understanding of the local real estate market which is vital in delivering the best service to Arizona rental property owners. Now a Poplar company, both companies will continue to strive in providing the best value for their clients through the combination of Venture REI’s local expertise and Poplar Homes’ tech-first approach and national reach.
Read more about the acquisition in the recent press:
Yahoo Finance: Poplar Homes Acquires Venture REI’s Single-Family Property Management Business
Connect CRE: Poplar Homes Enters Arizona Market
Benzinga: Poplar Homes Acquires Venture REI’s Single-Family Property Management Business
Up next: Expanding to Maryland: Poplar’s Acquisition of Silver River in 2022
Final thoughts
By joining forces with Venture REI, Poplar Homes is strengthening its presence in the Arizona market and further solidifying its position as a leader in the industry. The combined expertise and resources of the two companies will enable Poplar Homes to deliver even greater value to its clients and residents.
As Poplar Homes continues to expand its footprint, it remains dedicated to upholding its unwavering commitment to exceptional service, innovative solutions, and customer satisfaction. This acquisition represents an exciting chapter in Poplar Homes’ journey, and the company looks forward to the opportunities it will bring for growth and success.
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