Value-Add & Reputation Turnaround: 236-Unit Re-Tenanting and Stabilization
Case study
At a glance
CLASS managed a severe reputation crisis and a 20% eviction sweep, securing 117 move-ins to restabilize the community at 95%+ physical occupancy.
- Occupancy: 95%+ stabilization achieved
- Physical tours: 387, of which 322 were qualified
- Applications: 257, with a 35% closing ratio on qualified tours
- Move-ins: 117, offsetting 47+ evicted units
The challenge
This 236-unit community in Dallas, Texas was plagued by severe reputation issues and high delinquency. To correct the rent roll, ownership mandated a large eviction sweep accounting for roughly 20% of total occupancy, creating a deep vacancy hole that needed immediate backfill.
The CLASS approach
Organic traffic was strong but hesitant. CLASS deployed leasing specialists to screen prospects rigorously, overcome objections about the community’s online reputation and rebuild a high-quality resident base, generating 117 move-ins over a 12-month period to reach 95%+ physical occupancy.
Key takeaway
High foot traffic alone cannot save a distressed asset if the on-site team lacks the leasing skill to overcome serious reputation and safety objections. By implementing rigorous qualification standards and persistent follow-up, CLASS rebuilt the resident base, executing 117 move-ins to offset a 20% eviction loss and reach 95%+ occupancy.
Let’s solve your vacancy
Tell us about the community and where occupancy sits, and we will tell you what a deployment would look like.