This 364-unit Class A property near the University of Central Florida had switched its marketing focus to recent graduates instead of existing students. When occupancy fell and delinquency rose, a re-think was in order.
We reoriented the leasing effort to the 50,000 students just 2 miles north at UCF and then reached out to students attending the nearby campus of digital effects-focused Full Sail University. By spending just $25,000 on new projects, we restored a poolside water feature, made new technology in the screening room accessible to residents, and created a 12-bike spin room out of an unused area of the fitness center. Within three months of completion, occupancy rose 6% and rents increased $100 year on year.