
Episode #36
98% Occupancy: Is Centralization the Secret? with Keith Jones & Kara Thompson
What if centralization could lower payroll, improve leasing performance, increase occupancy—and actually create better career opportunities for your team? In this episode of The Property Playbook , Rory Anderson sits down with Keith Jones, President & CEO of Oakwood Management Company, and Kara Thompson, Vice President of Operations , for a practical look at what centralized property management actually looks like when you move beyond the buzzwords. Oakwood has spent the past year rethinking where work should happen across its multifamily portfolio. Their philosophy is simple: centralize the repeatable work, but protect the human experience. Keith and Kara share how Oakwood moved administrative tasks like application processing, resident accounting, renewals, invoicing, and other process-heavy work away from onsite teams—allowing leasing professionals and property teams to spend more time doing what they do best: serving prospects and residents. And the results are getting attention. Keith shares that Oakwood has seen a 17% decrease in property-level payroll compared with 2024 , while tour conversion increased from the low 30% range to 41% , lead conversion climbed from single digits to 17% , and portfolio occupancy reached approximately 98% —even through a time of year when occupancy historically softened. But this conversation isn't just about cutting costs. Keith and Kara explain why some functions shouldn't necessarily be centralized. They discuss how Oakwood redesigned its staffing model, created new career paths for employees, used specialists instead of forcing everyone to be a generalist, and involved onsite teams in shaping the transformation. If you're an owner, asset manager, property manager, regional leader, or multifamily executive asking whether centralized operations can actually improve NOI without sacrificing the resident or employee experience, this episode is for you. Listen now, subscribe to The Property Playbook, and share this episode with someone rethinking how multifamily properties should operate. CHAPTERS 00:00 Introduction to the episode and guests 227:40:54 What does centralization mean at Oakwood? 569:20:57 Crazy stories from property management 15388:48:25 Goals and benefits of centralization 20499:55:32 Functions and processes centralized at Oakwood 276944:22:38 Efficiency gains across operations 300555:29:33 Staffing model changes and employee morale 428055:30:35 Measurable impact on property NOI 487222:11:19 Risks of going too far with centralization 544722:11:53 Financial differences after centralization 578611:05:30 Lessons learned and leadership principles 663611:06:10 Key takeaways and balancing efficiency with resident experience TO CONTACT OUR GUESTS: KARA THOMPSON KEITH JONES KEYWORDS: property management, centralization, NOI, multifamily, operational efficiency, leadership, real estate, property management strategies






