November 2009 Newsletter
98% Occupancy is NOT a Typo!
Sunrise Management has handled Arizona properties for years, but suddenly things have caught fire. It started when Cameron Creek signed up with us, joining Orchard Mesa in our satellite office. We sent in a crackerjack team with an “up” attitude: Clean up. Rents up. Lease up.
After cleaning house we successfully repositioned the property. Upscale residents were targeted. And a mere six months after we walked in the door, occupancy had gone from the low 80’s to the high 90’s.
Then came Rancho Viejo. Summerhill Place. The Boulevard and Genoa Lakes. Each one possessing great potential. Each one suffering from lack of focus. Each one being turned around by Sunrise’s 30 years of solid, practical experience.
“It’s not just a beautiful property and good management” says asset manager Tracey Savaiano; “It’s attitude! True, Sunrise puts phenomenal managers in at every community, but it’s the philosophy of the entire organization that drives each property to the levels of success we consistently achieve.”
Kevin Pennel – the other half of the Arizona Dream Team – puts it a little differently. “Our management style treats each property as if it were our own. We take a long-term view, investing with an eye towards long-term payoffs. We watch every penny and spend wisely at every turn. And we recognize that an intelligent solution sometimes means thinking a little differently, rather than just throwing money at a problem.”
With this month’s addition of The Taos Apartments to the portfolio, Sunrise’s Arizona presence has risen to seven properties – more than double since January 1. And as far as Tracey Savaiano and Kevin Pennel are concerned, this is just the beginning.
“It doesn’t matter if it’s a broken condo deal or an owner deciding it’s time for the pros to step in and do things right.” says Ms. Savaiano. “We’re comfortable finding ways to maximize returns, minimize carbon footprints, and developing creative ways to help owners work around every kind of issue imaginable to get their units leased quickly and to the quality resident the property deserves.
Says Mr. Pennel; “We believe in every property we manage, and treat them all equally. Our target is to be managing five thousand units in Arizona two years from now.”
Given the kinds of results they’ve been delivering and the owners already lining up for 2010, that may end up being a conservative figure.
Get more information on having the Arizona Dream Team working to improve your property’s bottom line.
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