Renovation and Re-positioning

Wyman Court Apartments in Baltimore MDIn April of 2012, ResidentialONE retained management of a 72 unit property located in the Wyman Park neighborhood in Baltimore, Maryland. At the time of takeover, the condition of the property was a sore point with its neighbors. Wyman Court Apartments had the potential to be a jewel in the otherwise private home owned community. One year later, the property was a welcome addition to the neighborhood and an example of what a wise renovation and re-positioning plan can accomplish.

Today, this property stays leased up with fewer marketing dollars as a result of referrals from current residents as well as the surrounding home owners.

“I appreciate the expertise and total commitment from your team. Your depth of knowledge and guidance as an asset manager is unique in this business”
—Steve Rothfield, Owner

Highlights

  • 96% average annual occupancy
  • 31% increase in operating income
  • $1757 per unit of renovation work on the exterior, common area and minor unit upgrades
  • 82% decrease in delinquency