For the past several weeks, we have been sharing the story of building Faris Property Management from the ground up: the investor case, the operational infrastructure, the AppFolio workflows, and the 10-step resident experience system. Today we want to step back from the framework and give you a direct, factual update on where things stand across all seven properties in the FCP portfolio, because the transition is no longer a plan. It is live.

Here is the complete picture.

‍

The Portfolio Snapshot: Seven Properties, Two Management Tracks

Every property in the Faris Capital Partners portfolio now operates under purpose-built management. Four properties are managed directly by Faris Property Management, our wholly owned affiliate. Three Charleston-area properties are managed by Fortis Property Management, a best-in-class regional partner.

‍

Investor takeaway: This structure reflects a deliberate decision: direct management where FCP's own platform is the strongest fit, and a carefully vetted third-party partner where the investor structure and operational context called for it. Every property in the portfolio is now operating under intentional, accountable management, not default vendor arrangements.

In simple terms: We manage four of our apartment communities ourselves, with our own team and our own systems. A professional management firm called Fortis handles the other three. Both tracks follow the same high standards. This is the structure we built toward, and it is now fully in place.

Track One: Faris Property Management Goes Live

Faris Property Management is now the direct operator of four properties: Faris Residences Largo (Tampa), Faris Residences Smyrna, Faris Residences Newnan, and Faris Residences Georgetown. Together these properties represent the majority of the FCP portfolio by unit count, and they are now managed by a team whose only portfolio is ours.

The go-live date was October 1, 2026. What that date represents, operationally, is the moment property-level data stopped living with a third party and started living with us. That shift is not cosmetic. It changes how quickly we can respond to what's happening at each property, how accurately we can forecast, and how accountable every team member is to specific, measurable performance standards.

Here is what in-house control actually looks like in practice.

The AppFolio Platform: Where Technology Meets Accountability

Faris Property Management operates on AppFolio across all four in-house properties. AppFolio is not simply a software platform. It is the operational nervous system that connects leasing, maintenance, finance, and resident communication into a single, real-time view. Here is what that means for each core function:

‍

Leasing Performer AI: Removing the Lag

The single most important metric in leasing is simple: how fast does a prospect hear back from you? Every hour of lag between an inquiry and a response is a prospect evaluating other options. The Leasing Performer AI eliminates that lag entirely. It responds to incoming leads, answers questions, schedules tours, and nurtures prospects through the funnel on a 24/7 basis, without requiring a team member to be at a desk.

The early result: in our first weekend live on AppFolio, the Leasing Performer AI booked four tours on its own, after hours. Those are four leasing conversations that, under the prior system, would likely have waited until the following business day and may never have been had at all. That is the dollar value of removing friction from the front of the leasing funnel.

Maintenance Performer: Closing the Loop in Real Time

The Maintenance Performer connects every work order, from the moment a resident submits it to the moment it is resolved, through a single automated workflow. When a resident submits a request, it is logged instantly and deployed to the maintenance team in real time. When the work order is completed, a resident satisfaction survey goes out automatically. No manual follow-up required. No gap between resolution and feedback.

This matters for two reasons. First, it gives our team real-time visibility into what is happening at each property: how many open work orders are in queue, how long each has been open, and where the system needs to escalate. Second, it closes the feedback loop with residents at every interaction, which is how we build the trust that drives renewals.

Real-Time Metrics Dashboard: Data That Was Never Ours Before

Under third-party management, we received periodic reports. The data was real, but it was filtered, formatted, and delivered on someone else's timeline. We were looking at our own portfolio through someone else's lens.

With AppFolio's real-time dashboard, that is over. Speed to lead, time to complete work orders, occupancy, leasing velocity: all of it is visible to FCP leadership at any moment, without requesting a report. When collections soften at a property early in the month, we see it and act on it. When a maintenance category is generating repeated requests, we investigate before it becomes a resident satisfaction problem. Data latency is a management risk. We have eliminated it.

Onboarding and Access Management: Ending a Recurring Frustration

One of the operational frustrations under third-party management that never gets discussed publicly is new team member onboarding. When a leasing agent or community manager is new to a property, the lag between their first day and the moment they have access to all the tools they need to do their job can run up to a week. That is a week of reduced capacity at a property, during which the team is operating at less than full strength.

With AppFolio's onboarding and access management tools, new team members are provisioned before day one. They arrive ready to work. The bottleneck is gone. That is a small operational improvement with a meaningful downstream effect on leasing performance and resident experience continuity.

Investor takeaway: The AppFolio platform is not an upgrade from one software system to another. It is the shift from information mediated by a third party to information owned by FCP. Real-time leasing data, real-time maintenance data, real-time collections data: that visibility is the foundation of accountable, responsive property management. It is also the foundation of the accurate, timely investor reporting we are committed to delivering.

In simple terms: AppFolio is the software that runs our four in-house properties. What makes it powerful isn't just that it stores data, it's that it automates the right actions and puts the right information in front of our team and leadership in real time. When something needs attention at a property, we know about it immediately. When a prospect reaches out after hours, the system books a tour. When a maintenance job is done, the resident gets a survey automatically. The software makes our intentions consistent.

Track Two: The Fortis Partnership for Our Charleston Communities

Our three Charleston-area properties, Faris Residences Goose Creek, Faris Residences Moncks Corner, and Faris Residences Strawberry Station, are managed by Fortis Property Management, the regional partner we selected after a rigorous evaluation process. This was a deliberate decision, not a default one, and it deserves a clear explanation.

The investor structure at these three properties called for a third-party manager. We respected that decision. What we did not do was accept the nearest available option. We approached the Fortis selection the same way we approach any operational decision: with documented standards, specific criteria, and a willingness to walk away from candidates who didn't meet them.

Who Fortis Is

Fortis Property Management is an Atlanta-based, Southeast-focused multifamily operator with genuine institutional credentials:

• ‍Scale with depth: Fortis manages over 70 apartment communities and more than 16,000 units across North Carolina, South Carolina, Georgia, Tennessee, Maryland, Texas, and Alabama.‍
• Institutional lineage: Fortis was formed in 2021 as a merger between Hammond Residential Group (founded in 2007, managed over 30,000 units across the Southeast) and the multifamily portfolio of JEM Holdings, a New York-based real estate investment firm. The leadership team brings over three decades of property management experience.‍
• Leadership depth: COO Katie Ashley brings over 25 years of multifamily operations experience, including VP of Operations for a 7,000-unit workforce housing portfolio across the Southeast. That is the caliber of leadership overseeing our Charleston properties.‍
• Mission alignment: Fortis is committed to reliable, high-quality housing and building trust through transparency, communication, and a personalized approach to every interaction. That is not marketing language. It is the standard we hold every partner to.

What Makes Fortis a True Partner, Not Just a Vendor

The distinction between a vendor and a partner is operational. A vendor provides a service. A partner extends your standards. Here is how the Fortis relationship functions as a genuine partnership:

• ‍Shared operational language: Fortis is implementing consistent operational systems across the properties they manage, including the three FCP assets. This creates meaningful benchmarking: we can compare leasing performance, maintenance response times, and collections rates across our Fortis-managed properties using a consistent methodology.‍
• Full-stack management capability: Fortis brings a comprehensive service model, from acquisition due diligence and leasing and marketing to financial reporting with GAAP-standard deliverables. That is the institutional quality our Charleston properties need and our investors deserve.‍
• Proactive operations model: The Fortis team is trained to stay ahead of issues, not react to them. That philosophy aligns directly with how we operate at our in-house properties, and it is a non-negotiable characteristic for any management partner we work with.‍
• Direct FCP oversight: Abel Leonardo, our Director of Asset and Property Management, conducts regular performance reviews with the Fortis team covering renewal rates, maintenance response times, collection performance, and resident satisfaction signals. The Fortis properties are not out of sight. They are actively overseen.
  ‍

"We are not handing these properties off. We are extending FCP's standards through a partner who runs their business the same way we run ours."

Investor takeaway: The Fortis partnership means that even the properties FCP does not manage directly are held to FCP's performance standards, monitored by FCP's operations leadership, and operated by a firm with the institutional depth to execute at that level. The three Charleston properties are not a carve-out. They are a deliberate extension of the portfolio's management quality.

In simple terms: We don't directly manage our three Charleston communities, but we chose the firm that does with the same rigor we'd use to hire a key employee. Fortis has deep experience, institutional-quality operations, and a leadership team that thinks about property management the same way we do. Our Director of Asset and Property Management reviews their performance regularly. These communities aren't outsourced. They're entrusted to a partner we know and trust.

One Portfolio, Two Platforms, One Standard

The most important thing for investors to understand about this structure is what it does not represent. It does not represent a divided portfolio with uneven standards. It represents a portfolio where every property has purpose-built management, whether that management comes from our own team or from a carefully selected partner.

The Faris Residences brand, the 'Love Lives Here' mission, and the resident experience standard we have built over the past year apply equally at every property. A resident at Faris Residences Strawberry Station should have the same expectation of responsiveness, care, and professionalism as a resident at Faris Residences Largo. The management entity is different. The standard is not.

What this moment means for the portfolio going forward:

• ‍Better data for investors: Real-time reporting from AppFolio across our four in-house properties, combined with GAAP-standard financial reporting from Fortis at the three Charleston properties, means more accurate and timely investor updates than we have ever been able to deliver.‍
• Better resident experience portfolio-wide: With management accountability now sitting directly within FCP's organizational structure at every property, the gap between our service standard and the resident's actual experience has been significantly narrowed.‍
• A platform that scales: Faris Property Management is not a finished product. It is a growing infrastructure. As FCP acquires new assets, the systems, processes, and team we have built become the management platform for those assets. The investment we made in building this is an investment in every future deal.‍
• Strategic flexibility in Charleston: The Fortis partnership is not a permanent outsource. It is the right structure for these three assets right now. As the portfolio evolves, we will continue to evaluate the right management approach for every property with the same rigor we applied here.

Investor takeaway: The management transition is complete. Seven properties. Two management tracks. One standard. The question every passive investor should ask their operator is: who is managing your properties, and what accountability do they have to you? Our answer is now fully documented, operational, and visible. FCP is in the driver's seat on every asset in the portfolio.

In simple terms: Every apartment community in the Faris Capital Partners portfolio now has professional, accountable, purpose-built management. Four properties run by our own team on AppFolio. Three properties managed by Fortis, a firm with the experience and commitment to match our standards. One unified expectation of how residents should be treated and how investors should be kept informed. That's where we are, and we're proud of it.

What Comes Next

We went live on October 1, 2026. The planning and infrastructure-building that preceded that date took months: the operational manuals, the AppFolio migration, the team training program, the Fortis partnership evaluation. The transition is complete. The Q4 focus is executing: training our team to the full six-session program, establishing the renewal and retention rhythms that will drive performance through the next leasing cycle, and continuing to build the operational relationship with Fortis at our three Charleston properties.

In the coming episodes and newsletters, we will share:

• The first 90 days in detail: the wins, the adjustments, and what we learned building this from scratch.
• Behind the scenes at Faris Property Management: how we built the operations manuals, the training program, and the AppFolio migration.
• Quarterly performance metrics: renewal rates, maintenance response times, collections performance, and NOI trajectory. We committed to accountability. Here is what that looks like in practice.

If you are a current investor in the FCP portfolio, your next update report will reflect this structure in full. If you have questions or want to connect, reach out directly. We are always accessible.

The Bottom Line

The management transition at Faris Capital Partners is complete. We run four properties ourselves: Faris Residences Largo, Faris Residences Smyrna, Faris Residences Newnan, and Faris Residences Georgetown. Our platform is AppFolio, and the early results are real: four tours booked after hours in the first weekend by AI-powered lead follow-up, real-time maintenance tracking, and direct data visibility that we never had under third-party management. Our three Charleston properties, Faris Residences Goose Creek, Faris Residences Moncks Corner, and Faris Residences Strawberry Station, are managed by Fortis Property Management, a firm with over 16,000 units under management and 30+ years of institutional experience in the Southeast. We chose Fortis deliberately, after a rigorous evaluation, because they operate at the level our investors and residents deserve. FCP's Director of Asset Management reviews their performance regularly. The standard is the same across all seven properties. The question of who manages the Faris Capital Partners portfolio now has a clear, documented, accountable answer. We built this. We are running it. And we are going to show you the results.

‍

If you'd like to be added to our investor list to see future opportunities,  please schedule a call with our team.