Hub and Montage, Greenlaw Partners

Dallas, Texas
2018
Introduction

When Greenlaw Partners initially acquired their Hub/Montage property, it was in a state of disarray after years of mismanagement and underperformance. Almost immediately, they chose to bring Asset Living in to lead a full-property transformation. Our team quickly got to work correcting overlooked issues and crafting a forward-thinking marketing plan that would help ownership overcome the property’s poor reputation within the market. These proactive strategies revitalized Greenlaw Partners’ property’s performance, creating a thriving, healthy, and high-performing community.

Services
Capital Improvements
Marketing
Operations
Due Dilligence
27%

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Zimmerman property lounge area with apple computers
The Problem
  • Overcoming the repercussions of mismanagement
  • Coordinating extensive rehabs while continuing leasing efforts 
  • Improving the property’s pre-established reputation 
  • Enabling the (Class D) property to compete with nearby (Class A/B) properties 
Our Solution

Addressed outstanding maintenance issues and executed extensive rehab

At takeover, it was apparent to our team that the property had been neglected and was in need of a revamp. In order to repair and reverse the wear and tear, we initiated plans for extensive rehab efforts . After coordinating with our trusted network of vendors, we oversaw the revitalization of the property, leading efforts to restore the property to market standards. This allowed the property to adjust pricing to be more in line with competitors. 

Updated marketing efforts to improve property reputation

After correcting outstanding maintenance issues and guiding the property through an extensive rehabilitation, we set out to maximize ownership’s return on investment. This meant modernizing their marketing efforts through proper marketing training. This empowered the property to be competitive with higher-classed properties. Through marketing strategies that showcased improved curb appeal as well as an elevated resident experience, we were able to help this property reach its full potential in the minds of current and prospective residents. 

Implemented proactive procedures to ensure continued property success

Determined to set this property up for immediate and ongoing success, our team took initiative to improve on-site operations. With efficient behind-the-scenes protocols and increased on-site training, the property now offers residents a high-quality living experience. Ultimately, this made the property capable of appealing to a wider clientele, increasing occupancy, renewals, and overall rental income. 

Kevin A.
"
From the moment we handed over the keys to Asset, it was clear we made the right choice. Their leadership effectively transformed our newly acquired property from an underperformer to one of our most-rewarding assets."
The Results
  • Accomplished a rental increase for over 65% of residents
  • Increased occupancy rates by 5-10%
  • Achieved a 65% increase in renewal rate
  • Decreased delinquency by 50%
  • Updated property appearance and improved property reputation
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