A small apartment community of 98 units joined EBMC on October 1, 2009. The property is surrounded by small apartment communities of better condition, higher rents and a better reputation. The property had a staggering 48% vacancy rate. In forty-five days using the existing staff and same market rents, EBMC improved the occupancy by 17%. In this case, EBMC identified that the cause of the high vacancy was not the price and in fact learned that we could achieve higher rents. We identified that the cause of the vacancy was two-fold; it was a combination of an unmotivated and confused staff coupled with a product that was not in market ready condition. The on-site staff with proper leadership is now excited to come to work. They work harder and couldn’t be more proud
We cannot say enough about the value of having an effective EBMC off-site property supervisor who works side-by-side with the on-site team. Our off-site supervisors are experienced mentors who will boost the staff’s confidence. We believe that the occupancy and NOI of your community can be improved through experienced supervision, staff mentoring and team building.