TOP 100 MAGAZINE

Edward Pabian

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Before Edward Pabian and his wife, Kimberly, married, they attended an investment seminar in 1999, where they learned about diversifying and investing in rental homes. At the time, Ed was an automobile mechanic, and Kim, with a business degree, was pursuing her master’s in elementary education. They liked the idea of investing in rental properties, and purchased a single house to rent. By 2007, they owned 12 through their company, Pabian Properties, in Wilmington, Delaware. When Ed was diagnosed with Lyme’s disease and lost his job as a mechanic that same year, he focused on acquiring more rental homes, doubling their portfolio by 2008—all while continuing to manage their properties and uphold the quality their tenants enjoyed. Today, Pabian Properties manages more than 600 commercial and residential properties for owners and landlords across Delaware. Family owned and operated, they focus on one thing and one thing only—property management. “We’ve managed our own properties, so we know what our clients are going through, what they need,” Ed shares. “These are things that you just can’t learn in a classroom, you can’t learn in a book. You have to experience and live every day, hands-on, and we have. That’s why our focus is solely on servicing our clients’ properties 24/7.”

 

A family affair for more than 20 years—and counting

 

From the start, Pabian Properties was a family affair, with Ed's parents and in-laws helping them out. Interestingly, while he and Kim were successfully managing their own 25 properties, they had never intended to start their own property management business. But then one day in 2009, Kim's uncle, James “Jim” Stephano, approached Ed about getting into real estate and began working with Ed. “That’s when things fell into place and we started our management company to serve other property owners,” Ed recalls. It was the perfect union, with Jim’s management skills as a former COO and Ed’s hands-on real estate experience with the trials and challenges of managing his own properties. "Jim took the company to a whole new level. He was the mind putting the structure in place. He knew who to hire, the skills they needed. I was the boots-on-the-ground guy who knew nothing about business, but had lived tenant and property crises,” Ed says. “With his help and management expertise, we increased revenue, and we kept growing organically from there.” Sadly, James passed away after a short but devastating illness, but his son Matt, a former police officer who had recently joined the company, took up the reins and is now director of operations.

 

Built by property owners for property owners—Delaware’s only full-service, one-stop, all-in-house property management company

 

When Ed built Pabian Properties’ unique model, it didn’t come from books or a generic corporate “How to Manage Properties” guide. It came from experience—a clogged toilet on a Sunday, a hot water heater on the blink in the dead of winter, a broken refrigerator, time-consuming leasing and legal tasks… and the list goes on. It also came from his unflappable commitment to providing superior quality housing to his own tenants. “This is a 24/7 job. When you have tenants, you’re going to get that call on an evening or the weekend, and they can’t wait days until it’s fixed or replaced,” Ed shares. This is precisely why he built an entire in-house property management ecosystem to provide everything a property owner could need—from fixing toilets to handling leasing, replacing a broken step and attending court on their client’s behalf. In addition, Pabian Properties has a warehouse filled with hot water heaters, space heaters, refrigerators, and other products for immediate installation or temporary replacement. “When you call a big corporate management company on the weekend, they can’t get something fixed or replaced until Monday. Often, tenants can’t stay at a hotel or eat out for days while they wait. We can get them a temporary or permanent replacement immediately from our warehouse,” Ed says.

 

While Pabian Properties continues to grow, Ed and Kim’s passion for serving their fellow property owners across their home state is as strong as ever—and it’s shared by every one of their 32 professional, experienced employees. So, too, is the personal attention for which the company is known. “Most corporate property management companies are hands-off, and property owners feel like a number, just faceless dollar signs. That is not okay,” Ed explains. “Whether two in the morning or a Sunday, we’re there for them, we know their names, and we always answer our phones—always. That’s why so many people recommend us, and it is our pleasure to serve them.”

 

Ed and Matt sat down with us to share more about the company, the vital role family has played in its success, and what they like most about their jobs.

 

What makes Pabian Properties unique?

 

Ed: We are the only actual full-service property management company in Delaware. We don't do sales and we are not realtors or general contractors. We are only focused on property management. We came up with the idea of a full-service model a few years ago, so when someone gives us their properties to manage, we can do anything. We have an experienced, dedicated staff that does the leasing, maintenance, and other functions, in addition to licensed electricians, contractors, etc. And if we can’t do it, we have subcontractors who can. We have a fleet of vehicles and tools, and we also do court appearances, if needed. So when someone turns over their investment to Pabian, they get everything they need. When people hire us, it is not a corporate setting; they can talk directly to me. And since we are focused solely on property management rather than sales, realtors refer us to their clients because agents are not afraid that they will lose them to our company.

 

Matt: The service we provide certainly makes us unique. We're very passionate here and have people with experience that you may not get in other companies. Our employees have all grown together and are all dedicated and passionate about their work. They're like a family. When people join Pabian, they stay with us for the long haul.

 

We understand yours is a family-run business. Can you talk more about that?

 

Ed: From the beginning, both my family and my wife’s family have been instrumental in our success. Kim's Uncle Jim helped grow the management team when I knew nothing about running a business. Unfortunately, he was diagnosed with ALS, and it took him in just eight months. Thankfully, Matt had just returned to work for us after leaving law enforcement and immediately filled his dad's shoes. He runs the day-to-day operations and manages every aspect of what goes on, including GC, maintenance, leasing, etc. He has a grip on everything throughout the company to ensure operations run smoothly and efficiently. 

 

Matt: Ed has done so much for my family through the generations. Anytime anyone needs something, Ed is always there. He is supportive, and I owe a lot to him.

 

While Pabian Properties has grown tremendously, you remain committed to focusing primarily on serving smaller properties owners, is that right?

 

We do! Sometimes, people think because of size that we only deal with bigger properties now. That’s not us. Most of our clients, about 90%, are people who own a few rental properties as an investment to either supplement their incomes or save for retirement—just like Kim and I were doing. Other clients own 20-30 different properties, and we manage their whole portfolio. We’ve been in their shoes, and we know it’s not easy—especially when you’ve never done it before. I was lucky, but I had a lot of knowledgeable people helping me and so I learned how to do it right. But a lot of property owners, unfortunately, fail trying to self-manage because they very quickly get overwhelmed by the laws, tenant problems, property maintenance, code violations, costs, or management or leasing agents who promise to manage the property, but don’t—or charge exorbitant rates to do so. We’re here to help them avoid or solve these issues with solutions to all facets of owning, maintaining, improving, and managing their properties so that they can succeed.

 

What do you like most about your work?

 

Ed: I love having my family involved in the business; even Kiley, my 14-year-old daughter, is interested in eventually joining us. Also, a big thing we do is buy depressed properties that are not taken care of, purchase them at a discount, and completely renovate them to make them a better living environment. I love taking it from something neglected to something that someone is happy to live in. I love the before-and-after and the impact it has. Over the years, I have had many neighbors come to me to thank me, which is very rewarding.

 

Matt: Working in corrections was a thankless job, and I never felt like I was helping anyone, just dealing with the most challenging people. So, now to see that I am making a difference or that someone is happy with me or with my service makes me feel completely satisfied.

 

Ed, is there a particular person who inspires you every day?

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There’s not just one. My dad, my parents, my Uncle Jim, they all inspire me a lot. My wife has always supported me. In fact, she’s the one who urged me to go into real estate full time. I’m really fortunate in that I have a village of people who have supported and inspired me along the way—even my employees. I love when they’re doing well, and I feel like I have to work harder for them because they work so hard for us. This company gives as much as it receives. We take care of our employees, but they take care of us at the same time.

 

Edward Pabian

CEO and Founder — Pabian Properties

Email: epabian@pabianproperties.com

Website: www.Pabianproperties.com