RESULTS: JUNE CLASS B LEASE-UP

PROPERTY OVERVIEW:

The subject property was a 60 unit class B building that had recently undergone a rehab and name change.  The property was struggling to generate qualified traffic and had high staff turn-over.  CLASS was brought in to help accelerate the leasing activity.  Prior to the arrival of CLASS, the property was 48% occupied and had generated only 2 leases in the past 60 days.  The rents averaged $850/month.

RESULTS:

CLASS was able to increase the unit absorption rate from 1/lease month to 13/month.  In just 45 days CLASS was able to secure 20 approved leases and move-ins.

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 18 additional move-ins in less than 45 days.

*Additional annual rent revenue generated by these move-ins = $183,600 ($15,300/month)

 COST OF CLASS VS. INCREASE IN ANNUAL RENT REVENUE – Click Graph To Enlarge

Total cost of CLASS Service = $21,500 (includes travel related fees)

Additional Rent Revenue generated by CLASS = $183,600

CLASS ROI:  $183,600 –  $21,500 = $162,100