Lotus Property Services Inc. has the knowledge and wherewithal to accomplish any goal you may have set for your property. From simply turning vacancies to a complete PROPERTY RE-POSITION. We are the turn around machine. If you are looking for a complete change and want to re-position your property from tenant profile to curb appeal we are the company for you. Below are a couple of sample property re-positions we have completed.
• Tenant profile issues
• Excessive drug & Criminal activity
• Underperforming property with Low Rents
• High maintenance cost cashflow problems
• Property Rehabilitation
• Aggressive tenant eviction plan
• Capital Improvements (Plumbing, Painting, Roofing, Landscape)
• Focused niche marketing and aggressive leasing plan with detailed tenant screening
• Increased overall property value
• Changed tenant profile and raised rents to $1,350
• Improved property appearance, operations and cashflow
• Eliminated differed maintenance and excessive maintenance
After extensive project based budgeting, contractor negotiations and 8 months of extensive remodeling, each bungalow recieved a new roof, new electrical, new plumbing, new stucco, new windows, new kitchen cabinets with granite countertops, fresh paint, new flooring and a full exterior landscape overhaul. Estimated to achieve an average rent of $1200 per unit with a 8.78% capitalization rate, the project completed under budget before our timeline with rental rates averaging $1350 per unit securing a healthy 10.21% cap rate!