RESULTS: JUNE CLASS B LEASE-UP
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.
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