In that one year time frame we have significantly reduced concessions during lease up
and increased rent at M2 five times.
During lease up
, revenue management is utilized to effectively balance supply and demand to achieve the asset strategy, whether the client is targeting an accelerated lease up
to generate positive cash flow, or focusing on achieving the highest rents possible upon stabilization--or even a blend of those strategies.
It is possible to lease up
a property too quickly because then the majority of leases all finish at about the same time.
Revenue management is configurable to execute a variety of lease-up strategies, such as quick lease up
with lower initial rents or more extended lease up
driving maximized rents," says James Flick, Director of Revenue Management for Camden Property Trust, and one of the first to embrace revenue management within a lease-up environment.
The communities are a combination of new clients and expansion of their current clients' portfolios, including Class A and B lease ups
and value add communities located in Texas, Alabama, South Carolina, North Carolina, Georgia and Florida.
Prior to her promotion, Kosik successfully led various lease ups
and managed multiple properties through her position as a District Leasing Manager.
He has completed lease ups
on over 28,000 units of new and renovated properties over the past 17 years.
In addition, we believe we are well positioned to create value by proactively asset managing the portfolio, repositioning underutilized space and maximizing revenue through lease ups
and managing expenses," Brookfield Asset Management Inc.
a: Steve Lamberti, Milestone Management, Dallas: We have found positive results when using call centers on new lease ups
Giscombe Henderson has been fortunate being able to do the lease ups
for many of the developers, at a high of $25 per square foot.
She has extensive knowledge in all facets of property management operations such as new construction lease ups
, due diligence on possible acquisitions, repositioning assets, conventional and market rate communities, tax credit and subsidized investments throughout the Southwest, Midwest and northwestern United States.
Owen's background in the multifamily industry covers all facets of property management operations such as lease ups
, rehabs, marketing and budgeting for market-rate communities, tax credit and subsidized investments.