Property Management Operations
Revenue, Expense & Capital Drivers
Our revenue enhancement initiatives use proven techniques and automated tools to assist in identifying, quantifying, and capturing additional sources of revenue such as:
- Achieve revenue growth over city market benchmarks
- Establish resident quality standards, reduce accounts receivables and bad debt
- Establish standard sales management processes, sales pipelines, sales training, and performance management
- Achieve physical and economic occupancy goals, exceed city market benchmarks
- Grow web mix of leads
- Reduce call abandon rates
- Reduce E-lead abandon rate; improve two-hour response
- Implement e-mail driven Customer Experience multiple touch point measurement system penetration; increase Net Promoter Score
- Lease expiration exposure and lease management
- Increase customer duration
- Increase customer retention while increasing rents in excess of market averages
- Deliver differentiating resident lifestyle experiences
- Link the behavioral/psychographic composition of the market surrounding each community to target and capture the appropriate consumer match for each; orient product/service to deliver performance and results
- Rather than manage all communities the same, we identify the predominant segments in their market and orientate the product/service for them for enhanced revenue and expense performance
Our business assessment is an on-site review of a property’s overall operation, including customer-facing and support functions, using a combination of interviews, modeling techniques, industry benchmarks, a best practice review, and a systems utilization analysis. The Wilkinson Asset Management assessment will identify process improvement and expense management strategies for immediate overall expense opportunities. Features included are:
- Integrated unit turn production system, unit turn cycle time, and renewal resolution processes
- Increase renewal resolution 30/60/90/120 days out
- Reduce total unit turn cycle times
- Minimize unit availability down time
- Procurement system, expense containment, and centralized Accounts Payable system
- Lead/assist redevelopment projects to achieve lease up goals and rent achievements
- Ground-up development lease ups
- Reduce conventional marketing costs using detailed market and demographic research conducted through industry databases and the ESRI Business Information Solutions service.
- Implement asset specific capital budgeting and planning effort
- Capital investment and operating cost structure informed by consumer segmentation
- Liability and environmental issues closely monitored for compliance (OSHA, EPA, etc…)
- Unit-by-unit walk through inspections for planning and forecasting
- Energy engineering cost analysis and planned reductions
- Facilities (maintenance) cost analysis and planning to also include comprehensive RFP contract and agreement negotiation
