Coastal Realty Services is creating a new position focused on expanding its property management portfolio as part of the company’s transition to a younger generation of leadership.

• Tyler Capelotti, who has served as the director of property management for nine years, will move into the newly created business development manager role to spearhead the company’s growth strategy.

“Everything that we’ve done growth-wise in the past 15 years that I’ve been has been organic,  word of mouth,” Capelotti said. “But now we’re actually shifting and starting this division to go out and get clients directly.”

The change comes as Coastal Realty Services continues its leadership transition, with Ty Whaley now serving as CEO of the 50-year-old family-owned real estate company.

“I’m incredibly excited for Tyler as he steps into this new role leading business development,” said Whaley. “For nearly a decade, he’s been the driving force behind our success in property management — his vision, dedication, and care for our clients have set the gold standard. Now, he’s bringing that same leadership to Coastal’s next phase of growth.”

In his new role, Capelotti will focus on building relationships with property owners, brokerages, title companies, insurance providers and real estate agents to grow the company’s property management portfolio, which currently includes about 800 properties.

• “It’s strategic to continue to position Coastal Realty Services as a premier property management company here in Fort Walton Beach,” Capelotti said.

Steven Rodriquez, who has been with Coastal for 14 years and currently serves as assistant director of property management, will step into Capelotti’s previous role. Rodriquez, a Niceville High School graduate, has been in the area since 1994 when his father was stationed at Eglin Air Force Base.

Rodriquez holds a real estate license and says he will continue to handle some buying and selling transactions while taking on his new responsibilities.

“I’m proud not only of Tyler but also of Steven, who is stepping confidently into the director role,” said Whaley. “It’s a testament to the strength of our team and the culture we’ve built. This transition reflects our long-term strategy and commitment to growth, and I couldn’t be more confident in the leadership we have in place.”

The transition is expected to be complete by the end of July or early August, coinciding with the completion of Capelotti’s first six months of specialized training for his new business development role.

The management change is part of a larger growth strategy for Coastal Realty, which recently announced plans to integrate Rosewood Realty’s property management portfolio effective January 2025.

Capelotti has set a goal of adding 15 properties per quarter, with plans to reach between 850 and 900 properties by the end of the year. His long-term vision includes expanding to five offices in the next 10 years, including locations in other states along the coast.

• “We are transitioning from just ‘managing your property’, to managing your assets for you,” Capelotti said. “Let this be an asset that’s going to grow and build over time.”

“Tyler’s contributions to our property management division have been nothing short of transformative,” added Whaley. “He’s built strong relationships, nurtured a high-performing team, and elevated our service model – all of which laid the foundation for our strategic expansion. I can’t wait to see what he accomplishes in this new chapter.”

Capelotti emphasized that the company’s strengths include its experienced staff and family-like atmosphere. “Between the seven that we have, there’s over 200 years of experience,” he said. “We are really good at vetting tenants to put the best ones in there.”

The company specializes in helping what Capelotti calls “accidental landlords” — often military personnel who purchased homes locally but were reassigned elsewhere.

The company has introduced a property referral program that includes incentives for real estate agents, who can earn up to $750 for each referral, and a raffle drawing for non-licensed individuals who refer property owners to Coastal Realty Services.

“We pride ourselves on providing individualized attention to each property and owner,” Capelotti added. “We don’t want clients to feel like they’re just a number or another piece of paper. We’re truly invested in this partnership with them, treating their assets as if they were our own.”