AGGRESSIVE CORPORATE PROGRAM REDUCES VACANCY
714 unit luxury high-rise with 20% corporate
Ballston, Virginia
Problem: Dramatic swings in the occupancy due to poor execution of corporate leasing program.
Solution: Staff was proficient managing stabilized community, but lacked experience in highly profitable corporate programs. Found experienced hotel-trained property manager and full time leasing consultant to service existing accounts, solicit new accounts and tightly track turnover and availability. Also marketed to military housing offices. Transferred units to conventional leasing in low season. Occupancy stabilized and NOI increased.
Aggressive Corporate
Program Reduces Vacancy Apartment
Community Repositioned to Offer Residents MoreBetter Than
a One Bedroom
with DenCreative
Floor Plan Changes
for Pre-Selling CondosCustomer Demand
Optimized Floor PremiumsDifferent
Sales and Marketing Strategy for Subsidiary Company Due
Diligence for Water-View Property The
High Utility Cost Mystery More
than Expected When High Rents Were RequiredNew Owners Need AssistancePersistence
Changed Burdensome ADU Requirements Right
Customer, Wrong ProductThe
Value of Upgrades