Shah Alam of Pratum Companies On Five Things You Need To Know To Succeed In The Real Estate Industry

Embrace rejection as part of the process: Real estate often involves hearing “no” before getting a “yes.” Early in my career, I learned to treat each rejection as a stepping stone. Embracing this mindset builds resilience, tenacity and grit.

As a part of my series about the ‘Five Things You Need To Know To Succeed In The Real Estate Industry’, I had the pleasure of interviewing Shah Alam, CEO of Pratum Companies.

With a career spanning nearly three decades, Shah Alam, CEO of Pratum Companies, has become a driving force in the multifamily industry, leading highly recognized and growth-oriented organizations through transformative success. From 2021 to 2023, Shah propelled the management business nationally at an affordable housing property management firm from 3,000–18,000 managed units in less than two years. As the senior vice president at Related Companies, from 2017 through 2020, Shah led a team of 500+ associates and 18,000 units rapidly transforming distressed areas into prosperous and stable communities. Shah’s career began to take off when he managed a national portfolio of 80,000 units at AIMCO, where he spent seven years in various roles including community manager, regional property manager and director of operations. Previously serving as the executive vice president of operations and senior vice president at Edgewood Management from 2011 to 2017, Shah orchestrated the management of a 32,000-unit portfolio of affordable, mixed-income and market-rate communities.

Thank you so much for doing this with us! Can you tell us the “backstory” about what brought you to the Real Estate industry?

I immigrated to the United States in the early 90s with only a few hundred bucks. Despite juggling multiple jobs — from driving delivery at Domino’s to leasing houses for homeowners on the side — there were many days when I had only water and a bag of .25¢ chips to sustain me.

My journey into multifamily started in college when my friends and I struggled to find a safe place to live that didn’t break the bank. As an international student from Pakistan who was trying to make ends meet, I discovered first-hand how complex the rental market is. This experience fueled my desire to make it easier for others to access affordable housing. I eventually landed my first career role as a leasing agent at an apartment complex in Indianapolis.

Little did I know that nearly three decades later, I would launch Pratum Companies (Pratum), a national, integrated real estate firm that operates 150+ multifamily communities totaling more than 15,000 apartment homes.

Can you share with our readers the most interesting or amusing story that occurred to you in your career so far? Can you share the lesson or takeaway you took out of that story?

One of the most memorable — and, at times, surreal — experiences in my career happened when I was handpicked by AIMCO executives to be the community manager at a property in Memphis, shortly after relocating from Indianapolis. It was a huge opportunity, my first major leadership role and I was ready to take on the challenge.

On my first day at the property, the CEO of AIMCO and other top executives visited to discuss capital improvements and a plan to turn the property around. I thought, “This is it — I’m going to show them what I can do!” But as soon as the meeting ended and everyone left, I was hit with a grim reality: I was told there were two dead bodies in the dumpster. The very next day, there was a shooting on the balconies. The following week, another murder. It was like a constant stream of chaos.

To make things even more challenging, I started receiving death threats from a few residents, and my safety became a concern. I found myself moving my apartment — sometimes in the middle of the night — because I couldn’t risk staying in one place too long. The maintenance team even helped me pack up and relocate whenever needed.

Despite these intense challenges, I never lost sight of the bigger picture. Throughout the year, my team and I worked tirelessly to rebuild the community. We focused on fostering a sense of belonging and safety for everyone, engaging with the residents, collaborating with local authorities and creating a positive environment.

About a year after I started, the community was thriving. Crime had decreased dramatically, and residents began walking their dogs, chatting with neighbors and enjoying the property like never before. We had zero gang activity, 99% occupancy and less than 1% delinquency. It felt like a true transformation.

The lesson I took from that experience is that no matter how challenging the circumstances, building a community starts with belief in the vision and a commitment to the people. If you put in the effort to connect, support, and empower everyone — residents, staff, and local partners — you can overcome even the toughest obstacles. Sometimes, the dream can feel far out of reach, but with hard work and determination, you can turn it into a reality.

Do you have a favorite “life lesson quote”? Can you share a story or example of how that was relevant to you in your life?

One of the quotes that I often share with friends and peers is, “Too much of too much is too much.” You can’t put all your focus and attention into one area of your life without another area suffering. In my experience, a fulfilled life balances family, community, work and hobbies.

Are you working on any exciting new projects now? How do you think that will help people?

We recently launched our rebrand to Pratum Companies, which signified the unification of several companies under one brand with a bigger mission and vision. The integration radically improved efficiency and, in turn, drove growth while providing our team with more options for their career paths.

Looking ahead for Pratum, my vision is crystal clear — strategic national growth. That doesn’t mean chasing deals or following the hottest market trends simply to scale at any cost. Instead, we’re focused on methodical partnership-driven growth and meaningful expansion to fulfill our client’s needs and give our team exactly what they need to be successful in their day-to-day.

What do you think makes your company stand out? Can you share a story?

Not only are we diverse in services with multifamily property management, acquisitions and investment, affordable housing consulting and commercial cleaning under one company, but team diversity has also become a critical part of the conversation.

As a first-generation American, I have experience with being a minority in a predominantly homogeneous industry. I worked tirelessly to build up credibility and prove myself in a field where most people don’t look or sound like me. Therefore, diversity, inclusion and belonging are not just buzzwords for me; they are ingrained in Pratum’s DNA.

We don’t have DEI policies in place because we don’t need them. At Pratum, diversity and inclusion happen naturally. Just look at our team members — you’ll find a group of individuals from all walks of life.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?

In the highly competitive and ever-evolving world of real estate, I quickly learned how critical it was to surround myself with people who believed in me while I weathered hardships or celebrated successes. I had terrific mentors at AIMCO, like Joe Borges, Tony D’Alto and Jeff Adler, who showed me that challenges are inevitable, but how we respond to them defines our trajectory. Their belief in me and continued support gave me the confidence to excel in my career, take on leadership roles and ultimately launch Pratum, which has been a culmination of my life’s work.

Ok. Thank you for all that. Let’s now jump to the main core of our interview. Can you share 3 things that most excite you about the Real Estate industry?

• Technological advancements to enhance the resident experience: I am excited by the potential to streamline operations and elevate resident experiences with the rise of technology. Tools like predictive analytics for maintenance, virtual leasing platforms and resident engagement apps help property management teams enhance efficiency, personalize experiences and gain insights into residents’ needs.
• Centralization to complement our onsite teams: Strategic centralization can supplement our on-site teams and assistant managers by taking administrative tasks off their plates so they can focus on core responsibilities and providing excellent customer service. Centralizing certain functions allows us to free up our assistant managers to focus more on career advancement and community engagement rather than getting bogged down in mundane data entry.
• Community over competition: I don’t view competitors as rivals. Instead, I see us as a collective group working toward a shared goal of providing quality multifamily housing to those in need. This sense of unity is even more crucial in the affordable housing sector, which is why Pratum offers third-party compliance and leasing consulting to other real estate firms and multifamily owners on our proven regulatory adherence and resident retention strategies. We also partner with industry leaders and colleagues that lower the barrier to entry for housing, such as Esusu, a rent reporting platform that reports rental payment data to credit bureaus to help renters establish credit scores.

Can you share 3 things that most concern you about the industry? If you had the ability to implement 3 ways to reform or improve the industry, what would you suggest? Please share stories or examples if possible.

• Rising Costs: The skyrocketing operating, insurance and construction costs are making it increasingly difficult for multifamily professionals to build and manage new affordable housing units. The rising costs are pushing developers to scale back on the quality and quantity of affordable units, further exacerbating the housing crisis.
• Rent Relief Deficiencies & Rent Relief Refusals: Many renters in affordable housing are facing financial hardship, yet rent relief programs are either insufficient or slow to disperse funds. In some cases, tenants are being denied access to rent relief due to administrative delays or stringent eligibility criteria. This lack of timely financial assistance exacerbates housing instability and threatens the financial viability of affordable housing projects, especially for low-income tenants struggling with job loss or reduced income.
• Lack of Awareness About Property Management as a Thriving Career: Although property management offers significant financial and professional growth opportunities, it is a highly underrecognized career path in academic settings, with only 67 universities in the U.S. offering property management degrees. I, like many others, randomly applied to be a leasing agent when first starting in the “real world.” I had limited knowledge of how much opportunity I would have to grow and ultimately, have a lucrative career in property management.

What advice would you give to other real estate leaders to help their teams to thrive and to create a really fantastic work culture?

• Discover what motivates your team: As a leader of 500+ employees, I often contemplate questions like: How are we encouraging, motivating and rewarding team members? How are we helping the team move past obstacles? What more can we do to support our clients, add value and truly scale? I want to ensure team members have the opportunity to grow within the company and are fulfilled within their roles. I’ve found that work-life balance is optimal for cultivating a great team culture.
• Organization is Key: It sounds simple, but organization is vital to success in our industry. Most of our work is done via email and other virtual channels, so it’s easy to get unorganized or scattered. But, without organization, you’re never going to succeed. This is a trait that every leader should seek in their new hires.
• Promote continuous learning: Offer advancement opportunities and encourage employees to pursue new skills and knowledge, including professional courses, workshops and mentoring programs. Develop your team every day and with every conversation, and those who are willing to learn and grow will grow with you. If they’re not the right fit, support them in finding their niche.

You are a “Real Estate Insider”. If you had to advise someone about 5 non-intuitive things one should know to succeed in the Real Estate industry, what would you say? Can you please give a story or an example for each?

• You’ll have to make sacrifices to move up. I’ve made many sacrifices to build a better future for my family. Over 20 years, I moved my wife and children 13 times to advance my career — one time just days after my son was born. While the journey hasn’t always been easy, it has allowed me to provide a comfortable life for those I love most.
• Diversity is the driving force of growth. Our approach to diversity starts from within, whether it’s a top-down initiative or something that has developed organically over time. With one look and one conversation with our leadership team, it’s clear we are a well-rounded group of individuals whose diverse backgrounds and perspectives drive our innovation, set us apart and will undoubtedly fuel our growth.
• Find a motivator greater than financial success. It’s easy to get burnt out when you’re at the top of your game, so it’s important to find a bigger purpose than business. For me, giving back to my family and community drives everything I do. Growing up in a family where values like loyalty, hard work and respect were the foundation, my father was my greatest role model. Despite a tough career, he had the unique ability to make each of his four children feel special, always believing we were his favorite. He was the first Pakistan hockey team captain and built a long, distinguished career at Pakistan International Airlines, eventually retiring as an executive after more than 40 years. His resilience and dedication shaped my own approach to life and leadership.
• Prioritize long-term relationship-building over transactions: In my experience, nurturing relationships is more valuable than focusing solely on immediate financial gains. My long-standing relationships with clients and partners, and my team’s dedication to service have led to repeat business. This strategy builds trust and a reliable network over time.
• Embrace rejection as part of the process: Real estate often involves hearing “no” before getting a “yes.” Early in my career, I learned to treat each rejection as a stepping stone. Embracing this mindset builds resilience, tenacity and grit.

Because of your position, you are a person of enormous influence. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be? You never know what your idea can trigger. :-)

My lifelong dream is to open and support an orphanage in Karachi, Pakistan, with the hope of expanding to other cities across the world. By offering shelter, education and care to those who need it most, I aim to generate a ripple of positive change through simple yet deliberate acts of compassion.

The hope is that even if just one child escapes the clutches of poverty, the impact could resonate for a lifetime, altering the course of an entire family or perhaps even an entire generation. We, as human beings, have an innate desire to be seen and heard and to feel that we matter. I was fortunate enough to have that support over the years and it’s now my responsibility to pay it forward.

No matter what you’re doing in life or where you are in your career — always try to change somebody else’s life for the better.

How can our readers further follow your work online?

• https://pratumco.com/
• https://www.linkedin.com/company/pratumco/
• https://www.linkedin.com/in/shah-a-3618938/

Thank you for your time, and your excellent insights! We wish you continued success.