Doubles Occupancy Rates Within one Year
Topic: Repairing the building and doubling occupancy
Who: Hired to manage any class of properties, Kape Property Management is the first choice of property owners looking for the highest quality and lowest cost management services.
The Problem: A rundown 46,000 s.f. multifamily complex, with a 45% occupancy rate that needed extensive rehab and renovations to stem the loss of tenants.
Some Background: The property owner, after mismanagement by another property management firm, was prepared to sell the building at a substantial loss after losing faith that the property would be able to become profitable again. Significant repairs and upgrades were required and the property owner possessed neither the time nor knowledge to complete the renovations.
The Solution: Through Kape Property Management's vast experience and contacts, the property was brought up to standards within three weeks at significantly reduced rates and timelines. Roofing, pluminging, electrical and kitchen upgrades were addressed, dramatically increasing property value and curb appeal. We then provided the owner with our experties in the screening and placement of tenants, raising occupancy from the disastrous 45% to a consistent 100%.