Glen Heights, Pretium
When Asset Living assumed management of Glen Heights—a luxury community featuring high-quality finishes in Salisbury, Maryland—it faced significant operational and financial challenges. Despite taking over shortly after lease-up, the Asset Living team wasted no time in implementing legal, operational, and marketing strategies to stabilize the community. Through these efforts, Asset Living was able to redefine the resident experience at Glen Heights, transforming the property into a well-managed, high-performing community.
Salisbury, MD
Build-to-Rent
2024
Challenges
- Asset Living was brought in for a management change immediately following lease-up.
- Delinquency was $157K at takeover.
- Occupancy immediately dropped to 75% due to necessary eviction.
- Extensive open maintenance request at takeover.
- Non-responsive management team.
Our Approach
- Filed delinquent legal notices immediately.
- Evaluated and implemented marketing and leasing initiatives.
- Evaluated vendors and contractors.
- Addressed deferred maintenance to increase resident satisfaction and curb appeal for potential residents.
“Wow! This is truly a monumental accomplishment! Thank you so much for your commitment to our investment. We appreciate you!”
Melanie Gersper
Managing Director, Pretium
The Results
- Increased occupancy to 94%, from 75%.
- Reduced delinquency to less than $5k, from a high point of $157k.
- Hired high performing staff to improve operations.
- Turned units quickly to minimize downtime.
- Completed service requests timely, enhancing resident satisfaction.