Capri Villas at the Lake, Worth Capital

Conroe, Texas
2016
Introduction

At Asset, we firmly believe that everyone deserves a roof over their head. We’re proud to work with community partners toward that goal –– all the while ensuring that every affordable housing option under our care meets Asset’s high standards for resources, overall appearance, customer service, and resident satisfaction. Capri Villas at the Lake was no exception. Capri Villas engaged the Asset team to lead and maintain the property’s relationship with the U.S. Department of Housing and Urban Development (HUD), which included preparing the property for REAC inspections and overseeing necessary updates, all while communicating with residents and delivering an outstanding living experience.

Services
Capital Improvements
Talent & Compliance Training
Due Dilligence
27%

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Zimmerman property lounge area with apple computers
The Problem
  • Repairing and preparing the property for the HUD annual inspection, with plans to achieve a high score to ensure no further inspections for three years
  • Effectively communicating on-site and in-unit repair updates along with estimated timelines to residents
  • Earning and maintaining resident satisfaction
  • Enstating and updatating protocol to ensure the property consistently meets HUD and fair housing requirements
Our Solution
Executed thorough pre-inspection preparation and post-inspection plan

As an affordable property, Capri Villas and its team members were tasked to comply with strict HUD guidelines from day one of takeover, which included achieving a high REAC inspection score. To position the community to earn the best possible score, Asset scheduled a pre-survey that highlighted problem areas and assessed the interior, unit by unit. Then, Asset carefully reviewed compliance guidelines in comparison to the property and completed substantial indoor and outdoor repairs to bring the property up to HUD standards.

After inspection was complete, we also developed a maintenance checklist, supported ongoing maintenance training, including official REAC preparation classes, and instated Asset’s standard protocol that will ensure Capri Villas continues to meet and exceed HUD guidelines, even during non-inspection years.

Coordinated extensive in-house repairs

Once we developed the list of necessary repairs as referenced above, we leveraged our extensive resources to keep costs low, performing and overseeing necessary repairs in-house, including:

  • Trimming outdoor hedges and rose bushes
  • Making repairs to curb and sidewalk
  • Clearing fence line of all debris
  • Trimming tree overhang
  • Checking all interior and exterior electric functionality
  • Inspecting unit details such as doors, locks, appliances, smoke detectors, sprinklers, AC filters, and breakers
  • Confirming that buildings meet fire code
Curated high-quality resident experience

Throughout the extensive building repairs, Asset strived to ensure that the resident experience and satisfaction were upkept. Current residents received proactive communications about any necessary building and unit repairs, allowing them to plan accordingly and minimizing inconveniences. We achieved this by maintaining constant communication with the residents and addressing any concerns in a timely manner.

Beyond the updates, we installed new signage that highlighted the community and its newfound curb appeal. Then, we trained on-site teams and implemented plans to keep staff up-to-date on Grace Hill trainings to ensure a seamless leasing process. All of these efforts combined to improve the property’s perception, leading to a positive resident experience from their first impression all the way through their life at Capri Villas.

Paula D.
Regional Vice President
"
Beyond the amazing resources Asset brings to our property, it’s the staff that makes a difference. Their constant professionalism gets more leases signed––even when a prospect chooses not to lease, they’re compelled to leave a positive review."
The Results
  • Received an exemplary REAC score of 94 that exempts the property of inspections for three years
  • Capri Villas is 100% inspection ready, up to HUD standards inside and out
  • Maintained 4 to 5-star rating across all major resident review sites
  • Received top 1% in online feedback from residents and prospects for our outstanding customer service, beautiful property, and great teamwork
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