Just wanted to give a huge thank you to Mike Whaling and 30Lines for presenting our Urbane Apartments story at the AIM Conference this year. Mike has also been instrumental at helping us transform the leasing paradigm and always figures out a way to implement our crazy and wacky marketing ideas. We are working hard to Break From the Pack of Apartment Commodity by Enhancing the Leasing Experience!
Here are the numbers, what are yours?
-) Average Rent per Square Foot; $2.45 to $2.75 Note that the comps are at $.75 to .$95 per S/F
-) Our leasing labor is $110 per unit leased.
-) Our total marketing costs, including 30Lines retainer is $130 per unit per year.
-) Our occupancy for the stabilized portfolio is 98% with year over year average at 96%
-) Our Retention is 65%, with the average stay of 2.5 years
-) We have 15 community’s scattered around Royal oak, MI
-) Total unit count, 360 units
-) Web Site visitors per month, 14,000 and growing at 35% month over month
Eric’s background is rooted in the rental and real estate industries. He founded metro Detroit’s Urbane Apartments in 2003, after serving as senior vice president for a major Midwest apartment developer. He established a proven track record of effectively repositioning existing rental properties in a way that added value for investors while enhancing the resident experience.
He also established The Urbane Way, a social media marketing and PR laboratory, where innovative marketing ideas are tested. Eric has been featured in Entrepreneur Magazine and Business Week Magazine.
You can connect with Eric_Urbane on Twitter.
Eric also writes regular articles for the following publications;
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