Proven Results for Yorktown – Elevating Return on Investment
01 The Opportunity
The Trinity Groves market had tripled in size over a three-year period creating a challenge that most would offset with concession. Upon being awarded the property, occupancy hovered around 91 percent. The previous management firm struggled to maintain revenue growth, trending at –1.9 percent.
02 The Solution
Marketing dollars were reallocated to yield the most success. The team focused on stronger Pay Per Click (PPC) campaigns, social media advertising and increased digital visibility through careful selection of relevant Internet Listing System (ILS) opportunities.
We were completely staffed on Day One by hiring from our internal candidate pool, and the team was able to restore revenue growth by returning the focus on occupancy. After a thorough review of the financials, the team was also able to find vendor cost savings through thoughtful bidding as well as properly assessed amenities cost.
03 The Results
- Average rent growth of 2.7%
- Occupancy increased to 93.7%
- Revenue increased 3%
Multifamily Property Management that Drives Value