Big Tree Properties in Winkler is under new ownership.
Tim and Tammy Suderman purchased the property management business earlier this month and celebrated with a ribbon cutting at their Main Street location Wednesday morning.
Tim says the company will align perfectly with his decade-old sideline business, 'Urban Plains Management', which manages condo corporations. He adds the purchase of Big Tree fits nicely with their goal to further expand the Urban Plains Management business.
One of the next steps will be to take stock of all the new properties.
"I'm still working through some of that," said Tim. "It's been only a few days that I've been in the office, so just getting caught up with who my staff are, what we're all doing.
Through gathered feedback, Tim noted there's a reduction in properties because of current interest rates. For some investors, interest rates doubled or tripled, depending on when they locked in. He said some investors are now liquidating because of that, and therefore they are still working on a total of properties under their management.
Right now, the list of people waiting to rent a property is long, said Tim. "In the short amount of time we've taken ownership, we've had many, many, many conversations with people who are looking for properties. We have investors that are coming up too."
Tim said there is some buying happening, but activity is much more active on the tenant side. "So that's the goal, to keep developing that, and have options available."
Although people will continue to see both names, Big Tree Properties and Urban Plains Management, Suderman noted, they are one and the same. Eventually, they will be merged under one name.