Case Study: Property Management at River Lofts
We just recently assumed property management at several of the properties we own. In just a few months, we're seeing early data that illustrates some key advantages to our approach. We're able to apply our decades of prior property management experience along with our perspectives as owners to achieve improvements across the board. At our River Lofts property, for example, we've seen the following:
Financial
*Decreased accounts payable by 12%.
*Increased occupancy from 85% in June to 95% in September.
*Supported residents to help reduce Covid-related delinquency from 45% to 5%.
*Developed more robust operating accounts using SBA loans.
*Improved net income across the board.
Property Improvements
*Improved curb appeal.
*Upgraded landscaping and overall standards of cleanliness.
*Improved garbage collection systems.
HR improvements
*Staff are happier and more engaged.
*Created new system for marketing support to help fill vacancies more efficiently.
Interested in trying our property management approach?
At Centro we're passionate about improving the experience for residents, owners, and investors and are applying our learning to all our properties. Contact us today!
