Elevate ROI - Oklahoma & Texas Property Management
Elevate ROI Can Prove Their Excellence Through Case Studies

Creekwood Place Apartments — Lancaster, TX — 200 units

Elevate ROI incorporated an advanced Revenue Management system through RentPush.com div Spherexx.com at the beginning of the fourth quarter 2012. By the end of the 1st quarter 2013, Creekwood has seen a tremendous income growth. Occupied rental rates are up 6.94%, $10 per unit. Concessions have almost disappeared, loss to lease has improved 3.45%, occupancy has improved 3.45% occupancy has risen 5%. Considering this has been accomplished over the winter months is most impressive.

Elevate ROI is committed to keeping its clients apprised and capitalizes to the ever-expanding wave of real estate management technology. The success seen at Creeekwood Place has many aspects. Rates have improved, occupancy has improved; but so has customer service and resident relations through incorporating a revenue management system that assists in pricing analysis that would take the given staff many hours per week to monitor. Those recovered hours have been well spent in focused marketing and management initiatives. What is most important is accomplishing a level of customer satisfaction and financial performance on behalf of all those we serve: our partners, clients, employees and residents.

Rochelle Plaza Apartments — Irving, TX — 120 Units

The Need – The mortgage loan matured and the partners needed to obtain a new mortgage loan with a competitive interest rate. They also desired to increase the amount of the loan. The concern was the ability to qualify for a loan due to an unstable occupancy, income, and NOI.

The Approach – A new on-site property manager and maintenance supervisor were hired. They had both worked together at a previous community for more than 10 years, so the experience and stability they brought was extremely desirable.

The Results – Vacancy loss was reduced by 203% year over year. Total income increased .98 per square foot; expenses were reduced by .46 per square foot, and Net Operating Income improved by $1.44 per square foot. Occupancy stabilized at 96%, turnover and concessions were reduced, NOI improved by 12%, and the owner’s were able to obtain a new loan that exceeded their expectations.

Creekwood Place Apartments — Lancaster, TX — 200 Units

The Need – The ownership group desired to reduce the turnover ratio, improve occupancy, reduce concessions, and stabilize property operating results.

The Approach – The team in place was evaluated. The Property Manager resigned, and the Assistant Property Manager was promoted.

The Results – Vacancy loss was reduced by 209% year over year. Total income increased by $1.42 per square foot; expenses were reduced by .22 per square foot, and Net Operating Income improved by $1.21 per square foot. Occupancy stabilized in the mid 90’s, turnover was reduced to 35% annually in 2012, concessions were reduced by 35%, and NOI improved by 16%.

8500 Harwood Luxury Apartment Homes — North Richland Hills, TX — 835 Units

The Need – A group purchased this property in 2007, and put approximately 6.5 million dollars into property improvements/renovations. They were not pleased with the operating results of the property management company.

The Approach – A new property management firm was hired. Patty Crowder was hired by the new management company as the regional manager responsible for delivering the desired results to the partners/investors.

The Results – Increased occupancy from 78% to 90% within 4 months of taking over management in 2009. Repairs and maintenance costs were reduced by $77 per unit, and total operating expenses lowered by $55 per unit in 2010. Increased NOI by 17% year over year from 2009 to 2010, and as a result the partners received their first cash distribution since investing in the property.

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