Cherry Hill Properties began with a single house and a hands-on approach that still guides its work across Lawrence. “We started with one single-family house 38 years ago,” said Bill Schulteis, managing member of the firm. “That also coincides with how long I’ve been married to my wife Brenda, who is still my business partner.”

From that first rental, the business grew steadily into multifamily and eventually commercial properties. Today, the company manages a mix of residential and commercial spaces across the city, serving tenants at a range of price points and life stages.

Along the way, Schulteis explained, the focus has remained consistent: building relationships and investing in the community it calls home.

“The arts, the University of Kansas, diverse businesses, residents and visitors–the community in general–have been great for our business,” he said. “We need growth to maintain a healthy community and a place where our children and residents can live.”

A family approach to business

Despite its growth, the firm has retained its identity as a family-run operation. Bill and Brenda Schulteis continue to lead the business, with the next generation now involved.

“As we grew, we met a lot of good contractors and hired some great employees,” Schulteis said. “We know the future of our company is in good hands.”

That sense of continuity extends across the staff, many of whom stay for years. “We are like a family,” Schulteis said. “We watch employees graduate, start families and retire. Sometimes we even welcome them back from retirement.”

The same philosophy applies to tenants. “What we want people to think of when they hear ‘Cherry Hill Properties’ is that we care about our tenants, employees, properties and the Lawrence community,” he said. “It is important to us to find the right home, whether it is affordable, market-rate or student housing.”

Defining the tenant experience

The company’s approach to property management is grounded in a simple idea: Treat each property as if it were home.

“Our property needs to be nice enough as if our own family were going to live, work, eat or shop there–which they do,” Schulteis said. “We treat everyone we deal with on a daily basis with respect and get to know our tenants.”

That philosophy shapes how success is defined. “When you have a tenant that doesn’t want to live anywhere else, refers your property or comes back to live or work at one of your properties, that’s a positive experience,” he said.

Many tenants stay for years, sometimes across generations. “We have housed tenants, their children and other family members and friends,” he said. “Not everything goes perfectly, but if we can reach an outcome that takes care of everyone’s needs, or is acceptable to all parties, we consider that a success.”

Adapting to a changing market

Like many communities, Lawrence has faced housing challenges in recent years, including limited supply and rising costs. Schulteis said he expects conditions to gradually stabilize, though the process will take time.

“We should start to see demand and supply come back into balance,” he said. “While we have a long way to go to increase housing stock and stabilize the market, there have been recent changes to help.”

Those changes include land annexation for future development and updates to local codes that make it easier to build housing within city limits. “We need to learn from surrounding communities and develop best practices for growth and prosperity,” he said.

Broader economic pressures continue to shape the market. “Inflation is a major issue,” he said. “Property taxes, insurance, utilities and cost of goods all play into the rent that must be charged to maintain a healthy business.”

He added that tenants are also moving less frequently than in the past, a trend that began during the COVID-19 pandemic and has continued.

Investing in improvement and growth

Rather than focusing primarily on new construction, the company has often taken a different approach: acquiring existing properties and improving them.

“Our approach is to be creative in how we can improve a property and become more efficient to serve our customers better,” Schulteis said. “Most of our work over the years has centered around buying an existing property and improving it through physical changes, marketing or management.”

Advances in technology also have played a role. “Software has made leaps and bounds for more efficient management, marketing and better tenant service,” he said.

At the same time, the firm is exploring opportunities created by recent changes in local development rules. “We are working to take advantage of new codes that allow accessory dwelling units or higher density on vacant lots,” he said. “This will help use land within the city limits more efficiently.”

In addition, the company has begun new construction projects, including a development at Ninth and Missouri streets, with additional plans in the 1500 block of Kentucky Street.

On the commercial side, they continue to invest in updates and repositioning. “Sometimes a commercial property might need a refresh or a change in management,” Schulteis said. “We look for ways to improve those spaces for businesses and customers.”

A role in the community

With both residential and commercial holdings, the firm occupies a unique position in Lawrence’s local economy. “We have a very diverse property mix,” Schulteis said. “This makes us unique as a property owner and manager in this community. We get to provide housing and participate in the growth of our local economy.”

That dual role–supporting both residents and businesses–has helped maintain strong community ties. “When it comes to success, it comes down to our customers and employees,” he said. “Without these two groups, Cherry Hill Properties would not have become what we are today.”

As Lawrence continues to grow, Schulteis sees that connection as essential. “We want to provide safe, clean and well-maintained property for tenants to prosper,” he said. “And we want a place where our employees can do the same.”

After decades of steady growth, Schulteis said the mission remains closely tied to the city it calls home. “Thank you, Lawrence.”