Repositioning & Lease-up


The Challenge


arrowPortfolio  consisting of 6 buildings scattered throughout Royal Oak totaling 175 units


arrow37% physical occupancy at take over


arrowPoor quality of applicant relative to sub-market


arrowLack of 'appeal' to differentiate from competition


arrowHigh turn over rates


arrowExtensive deferred maintanance 



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The Solutions



arrowCreated unique features in each of the 6 sites enhancing property appeal to applicants



arrowImplemented aggressive marketing plan to upscale prospective clients



arrowEnhanced buildings with models, contemporary paint, upgraded fixtures and increased rent based on upgrades



arrowIncreased quality of maintanance services


The Results


arrowAveraged over 94% occupancy and less than 3% bad debt since stabilization



arrowIncreased new lease rent by as much as $125 per month with upgraded market appeal



arrowDecreased turn over rate with great  office and maintanance service


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