I’m working on a management project and need support to help me study.
I am working on a marketing plan project fora apartment complex located in Downtown, San Diego. I need to provide a leasing plan for this apartment complex.
The apartment complex is : https://livepark12.com/
Research needs to be done about this apartment complex and a leasing plan would need to be created. Recommendations on How to increase occupancy rate. The plan includes strategies to increase income and to market and lease the community. The management plan is to ensure the owner’s objectives are being met. This is the info already got :
Annual Operating Budget
|
Year |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
|
Units |
718 |
718 |
718 |
718 |
718 |
718 |
718 |
718 |
718 |
718 |
|
Average rent per unit |
$ 3,034.00 |
$ 3,185.70 |
$ 3,344.99 |
$ 3,512.23 |
$ 3,687.85 |
$ 3,872.24 |
$ 4,065.85 |
$ 4,269.14 |
$ 4,482.60 |
$ 4,706.73 |
|
POTENTIAL GROSS INCOME |
$ 26,140,944.00 |
$ 27,447,991.20 |
$ 28,820,390.76 |
$ 30,261,410.30 |
$ 31,774,480.81 |
$ 33,363,204.85 |
$ 35,031,365.10 |
$ 36,782,933.35 |
$ 38,622,080.02 |
$ 40,553,184.02 |
|
Vacancy and collection fees |
$ (2,091,275.52) |
$ (2,195,839.30) |
$ (2,305,631.26) |
$ (2,420,912.82) |
$ (2,541,958.47) |
$ (2,669,056.39) |
$ (2,802,509.21) |
$ (2,942,634.67) |
$ (3,089,766.40) |
$ (3,244,254.72) |
|
EFFECTIVE GROSS INCOME |
$ 28,232,219.52 |
$ 29,643,830.50 |
$ 31,126,022.02 |
$ 32,682,323.12 |
$ 34,316,439.28 |
$ 36,032,261.24 |
$ 37,833,874.30 |
$ 39,725,568.02 |
$ 41,711,846.42 |
$ 43,797,438.74 |
|
Property Taxes |
$ (4,000,000.00) |
$ (4,080,000.00) |
$ (4,161,600.00) |
$ (4,244,832.00) |
$ (4,329,728.64) |
$ (4,416,323.21) |
$ (4,504,649.68) |
$ (4,594,742.67) |
$ (4,686,637.52) |
$ (4,780,370.27) |
|
Insurance |
$ (500,000.00) |
$ (500,000.00) |
$ (500,000.00) |
$ (500,000.00) |
$ (500,000.00) |
$ (500,000.00) |
$ (500,000.00) |
$ (500,000.00) |
$ (500,000.00) |
$ (500,000.00) |
|
Maintenance |
$ (2,875,503.84) |
$ (3,019,279.03) |
$ (3,170,242.98) |
$ (3,328,755.13) |
$ (3,495,192.89) |
$ (3,669,952.53) |
$ (3,853,450.16) |
$ (4,046,122.67) |
$ (4,248,428.80) |
$ (4,460,850.24) |
|
NET OPERATING INCOME |
$ 20,856,715.68 |
$ 22,044,551.46 |
$ 23,294,179.04 |
$ 24,608,735.99 |
$ 25,991,517.75 |
$ 27,445,985.50 |
$ 28,975,774.47 |
$ 30,584,702.68 |
$ 32,276,780.09 |
$ 34,056,218.22 |
|
Debt service |
$ (14,900,338.10) |
$ (14,900,338.10) |
$ (14,900,338.10) |
$ (14,900,338.10) |
$ (14,900,338.10) |
$ (14,900,338.10) |
$ (14,900,338.10) |
$ (14,900,338.10) |
$ (14,900,338.10) |
$ (14,900,338.10) |
|
CASH FLOW |
5,956,377.58 |
7,144,213.36 |
8,393,840.94 |
9,708,397.89 |
11,091,179.65 |
12,545,647.40 |
14,075,436.37 |
15,684,364.58 |
17,376,441.99 |
19,155,880.12 |
|
Taxes |
$ (1,250,839.29) |
$ (1,500,284.81) |
$ (1,762,706.60) |
$ (2,038,763.56) |
$ (2,329,147.73) |
$ (2,634,585.95) |
$ (2,955,841.64) |
$ (3,293,716.56) |
$ (3,649,052.82) |
$ (4,022,734.83) |
|
NET INCOME |
$ 4,705,538.29 |
$ 5,643,928.56 |
$ 6,631,134.34 |
$ 7,669,634.33 |
$ 8,762,031.92 |
$ 9,911,061.44 |
$ 11,119,594.73 |
$ 12,390,648.02 |
$ 13,727,389.18 |
$ 15,133,145.30 |
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