Wildwood Lubbock, Crow Holdings

Lubbock, Texas
2018
Introduction

Crow Holdings acquired Wildwood Lubbock, a 1,005 bed property located four miles from Texas Tech University, in October 2018. At takeover, our team quickly learned the property had just begun their preleasing for the upcoming school year in a very saturated student housing market. Upon transition, Asset was tasked with streamlining efficiencies, developing staff, and enhancing property performance in all areas, including leasing, marketing, facilities management, and ongoing day-to-day operations in order to ensure a successful leasing season.

Services
Marketing
Operations
Human Resources
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Zimmerman property lounge area with apple computers
The Problem
  • Implementing staff changes to create a strong on-site team and raise service levels to Asset’s high standards
  • Overcoming outdated and inefficient technologies 
  • Putting the property on track to reach increased revenue goals
  • Addressing maintenance issues outside of property’s warranty period
Our Solution
Addressed outstanding issues and strategically invested capital to add property value

After initial takeover, the Asset team uncovered several pain points within the property that were hindering the living experience for residents. Our team quickly overcame the identified items, coordinating a switch to a more reliable cable and Internet provider, as well as organizing and overseeing remedies for plumbing and irrigation issues. 

Once the property was in working order, we proactively collaborated with the client toward another key goal: using capital to enhance the resident experience. Based on resident feedback and local market research, we provided suggestions and guidance for maximizing ROI, overseeing the investment process from ideation to completion.The chosen improvements included dual dog parks, new pool amenities, and an extensive office/clubhouse renovation that better met the needs of Wildwood’s residents. 

Successfully transitioned staff, strengthening the team with proactive changes

Utilizing our decades of industry experience, we assessed the team that was in place at transition to understand the staff dynamic and identify any weaknesses that could be improved. After pinpointing the challenges at hand, we quickly put plans in place to overcome them. This included leading in-depth training for on-site team members and exposing staff to the tools and mindset needed to deliver industry-leading service to every prospect and resident that finds themselves at Wildwood Lubbock. 

Introduced forward-thinking marketing tactics to improve leasing strategy

Prior to Asset’s involvement, the on-site staff had minimal marketing experience. Our marketing and leasing training strengthened their skillset in areas such as systems, on-the-ground-marketing, promotions, events, and social media outreach. That newly refined knowledge base enabled the team to improve the community’s reputation in the market, while also strengthening customer service, resident engagement, and follow-up efforts.

Implemented new technologies and procedures to create a more efficient and effective work environment 

At takeover, we assessed technologies and procedures, quickly identifying inefficiencies, such as outdated tracking and reporting methods. We remedied our discoveries, bringing order and productivity to the property via a reputable property management software, accompanied by previously mentioned intensive staff training. This positioned the property for success, and gave the staff the confidence to excel at every aspect of their jobs, including financial management, leasing and marketing, customer service, and property maintenance.

Chris B.
"
Having access to all of Asset’s trainings helped me understand the fiduciary and operational responsibility I had at this property. Their expertise allows my property, and every property, to confidently meet the needs of investors.”
The Results
  • A capable, well-trained team that upholds Asset’s high standards of service
  • A successful lease up to 100% in 2020 
  • Ongoing training in collections, leasing, customer service, and property maintenance 
  • A stronger property reputation, evident via exceptional online reviews 
  • Modernized internal and external processes
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