Zimmer Development Company

Arkansas, Alabama, Michigan, Florida
2017 - 2019
Introduction

Since 2016, Zimmer Development Group has trusted Asset to generate success for their portfolio of properties. Over the years, even after periodic pauses in their client services, they have continuously circled back to Asset’s judgement and experience. Working together, we’ve led their team to make proactive changes throughout the leasing season in order to navigate the market and exceed goals, all while responding to real-time obstacles, such as 2020’s unprecedented world-wide pandemic.

Services
Market Research
Operations
Talent & Compliance Training
Advanced Data Analytics
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Zimmerman property lounge area with apple computers
The Problem
  • Increase occupancy rates from previous management
  • Achieve a pre-lease rate of 92-95% at all properties
  • Decrease ongoing expenses
  • Maintain optimal marketing efforts during COVID-19

Our Solution

Custom market recommendations

Through an in-depth evaluation, we combined years of market data with Zimmer’s 2019 lease-up data to better understand the property's place amongst competition and identify key areas for improvement. We collaborated to deliver custom recommendations that included reducing rent and increasing concessions, which lead to improved leasing efforts and enhanced property performance across each community. 

Safety-first, proactive COVID response 

In 2020, the real estate industry faced mandatory office closings and new “no contact” rules as a result of the COVID-19 pandemic. Asset’s proactive leadership helped Zimmer avoid prolonged business disruption through creative marketing tactics that focused on digital and social platforms, including virtual property tours, virtual resident events, and more. The response compensated for previous strategies, and kept the portfolio of properties on the best possible track during the worst of the pandemic––all while keeping current and future resident safety as our top priority. 

Professional on-site leadership and continual development

Each property that Zimmer entrusted to Asset received a dedicated regional leasing and training director focused on improving leasing, marketing, and resident satisfaction. In addition, Asset lended seasoned leadership to the communities, aligning teams around expectations and regulations through ongoing training services in operations, marketing, budgeting, and more every single week.

Landon Z.
Owner, Zimmer Development Group
"
These results are a testament to what a tremendous difference the dynamics of a team can make. Asset’s management team has worked tirelessly with us as owners, ultimately creating a success story that previously seemed impossible."
The Results
  • Increased average portfolio pre-leased rate to 98.42%, up from 92.12% under previous management
  • Increased Stadium View’s pre-leased rate to 99.47%, a more than 20% YoY increase
  • An average lease renewal rate of 35% across the portfolio 
  • Minimized marketing interruptions from COVID-19

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