From 70% Occupied to 97% in 90 Days

The Challenge

A 798-unit multifamily community was acquired in severely distressed operational condition.

At takeover:

• 70% occupied

• 67% delinquency

• Severe staff turnover

• A significant backlog of work orders

• Large numbers of units sitting unavailable or not being turned quickly

• Marketing efforts were not effectively reaching the resident demographic the property needed

The problem wasn't simply occupancy.

The property's operational issues were interconnected. Maintenance delays affected make-readies. Make-ready delays affected availability. Availability affected leasing. Leasing affected revenue. Staffing instability made everything harder to execute.

The Approach

Rather than treating each problem independently, the operation was triaged around the issues creating the greatest financial and operational impact.

The first priority was getting rentable units back into inventory.

That meant identifying which units could be turned quickly, prioritizing make-readies, removing operational bottlenecks, and increasing marketing efforts on platforms aligned with the property's target resident demographic.

The focus was simple:

Get the product ready. Get it in front of the right prospects. Get the team executing.

The Result

Within approximately three months, occupancy increased from 70% to 97%.

The turnaround demonstrated a critical operational principle:

You cannot solve a multifamily performance problem by looking at one KPI in isolation.

Occupancy wasn't the only problem. It was the visible symptom of multiple broken processes underneath it.

The HPC Takeaway

At Honoré Property Consulting, we look beyond the number on the dashboard.

We identify what is causing the number.

Because improving NOI isn't always about doing more.

Sometimes it's about finding the operational bottleneck that's preventing the property from performing in the first place.