RESULTS: CLASS A LEASE-UP
The focus of this case study is on two Class A sister properties with units totaling 444. The properties were dealing with constant turnover while struggling to secure new leases. CLASS was brought in to help accelerate the leasing activity and mitigate the effects of deficient renewals. Prior to the arrival of CLASS, the property was leasing at an average rate of about 34 leases per month. The rents averaged $897/month.
CLASS was able to increase the unit absorption rate from 34 leases per month to 60 per month. In just two months, CLASS was able to secure 120 leases.
RENT REVENUE PER MONTH – Click Graph to Enlarge
WITH VS. WITHOUT CLASS (assumes absorption rate w/out CLASS remains constant)
*The increase in leasing activity resulted in 52 additional leases in a span of two months.
*Additional annual rent revenue generated by these move-ins = $559,728 ($46,644/month)
COST OF CLASS VS. INCREASE IN ANNUAL RENT REVENUE – Click Graph To Enlarge
Total cost of CLASS Service = $84,300 (includes travel related fees)
Additional Rent Revenue generated by CLASS = $559,728
CLASS ROI: $559,728 – $84,300 = $475,428