Results Report

When taking over management of a 120+ multi-family apartment complex in Orange County, CA, we conducted a thorough review of the property and its location. We were able to increase rent by an average of $300 per unit by understanding the sub-market, including the amenities potential tenants desire and improving curb appeal. We increased occupancy from 88% to 97%, while maintaining a 0% delinquency. This added 18% to the NOI, which allowed the owner to refinance and pull out all his equity from the building within 18 months.

• Increased monthly rent by $300 per unit on average
• Improved curb appeal
• Increased occupancy to 97%, while maintaining a 0% delinquency
• Added 18% to NOI

SITCO Properties was hired to manage a 30-unit building in Los Angeles that suffered under the weight of very high expenses. Through proactive scheduling of maintenance and minimizing emergencies, we cut costs considerably. We also strategically upgraded the property’s curb appeal and tenant amenities. These measures stabilized the asset and allowed for an increase in rental income by 40%. The owner was able to refinance within 16 months and enjoy a steady cash flow.

• Increased rental income by 40%
• Refinancing made possible within 16 months
• Created a steady cash flow

Transitioning this low socio-economic property to attract a higher-paying market involved extensive efforts to add security, amenities, apartment features, and strategic staffing over a five-month period. These efforts achieved a 23% increase in rent and a significant improvement in occupancy from 77% to 96%. Lower costs were also attained through eliminating unfavorable third-party programs.

• Increased monthly rent by 23%
• Increased occupancy from 77% to 96%
• Lowered operating costs

Hired to manage a 600+ unit property that had room for value-added upgrades, we took numerous measures to increase monthly gross income by $110,000 within just 12 months. As a mixed-use property, with both tax credit and conventional leasing, we had to skillfully address the needs of different tenant groups, while also managing and curtailing costs. The financial improvements enabled the owner to refinance within 18 months.

• Increased monthly gross income by $110,000
• Reduced overall costs

We helped a large property owner transition into retirement by taking over their day-to-day, hands-on involvement. While relieving the owner of his headaches, we organized their process to be more cost-efficient. Our management review and strategies also increased his net operating income by 12%-15% so the family could retire in greater comfort.

• Transitioned property owner into retirement
• Boosted NOI by 12%-15%

Upon assuming management of a 300+ unit complex in Palmdale, we conducted a thorough site assessment to best understand the needs and desires of current and potential tenants. We added the most valued aesthetic amenities, including flooring, countertops, and common area changes, along with functional indoor amenities such as washers, dryers, and appliances. We increased gross rent from $390,000 to $470,000, and the owner was able to refinance and pull out 80% of his equity while still generating monthly cash flow.

• Increased gross rent by 21%
• Improvements supported both a loan and monthly cash flow