%201.png){kind=icon}
What Separates Third Party Managers in 2026 │ Teddy Abdelmalek, SVP of Business Development at HH Red Stone Properties
Summary
Teddy Abdelmalek is SVP of Business Development at HH Red Stone, the management arm of HH Group. He’s spent more than 20 years in student housing and conventional housing. Today, HH Red Stone now manages more than 10,000 units across the country, and they were recently named a Top 10 student housing company by J Turner Research. He sits down with host Jacob Kosior to explain why owners grow jaded after cycling through management companies, the fee model that ties a manager's pay to NOI so they only win when the owner does, and why passive management no longer holds up. Along the way, they get into methodical growth over chasing scale, how AI fits as a thinking partner without replacing judgment, and the philosophy underneath all of it: manage every asset like you own it.
In This Episode
Takeaways
- When a property struggles, the owner takes the biggest hit. When occupancy dips, the manager takes a hit. However, on a standard revenue-based fee, the owner's loss could be 30 times greater. Teddy's new model charges a base fee but only earns the rest once they meet or beat NOI targets. The manager earns the full fee when the owner actually wins.
- Owners are done with passive management. The days of handing over a plan and waiting for the monthly report are over. Owners are on site now, asking harder questions, and they want proactive communication over a polished recap. What they value most is a manager who will tell them the truth even when it is hard to hear, rather than sugarcoat a problem to protect the contract.
- Managers who show up in person tend to be the most committed and capable. Leading with "I'm the biggest" and a bed count no longer closes deals. The operators pulling ahead have specific tactical plans, are fluent in revenue management, maintain a great reputation, and prioritize resident experience. Teddy knows that a strong manager can walk a property and spot where value is leaking immediately, not only deduce it from a financial statement.
- There's no trophy for a million beds. Teddy would rather take on four or five deals a year and run them well than sign twenty and lose fifteen he cannot manage. Growth that outruns your systems dilutes the brand and burns out the team. As owners talk to each other, even direct competitors, putting a dent in your reputation can be the end of a future contract.