Beverly Forest Apartments
The all-brick Beverly Forest Apartments are located in southwest Mableton, Georgia. The 42 units that comprise the property are situated around a courtyard on 3.63 acres and range between 920 and 1,200 square feet in size.
This REO property was owned by a regional bank based in Los Angeles, CA. The owner preferred a management company with a national footprint that could be hands-on at the property and available for in-person meetings. At the property level, vacancy and collection loss were both high due to deferred maintenance and inattentive management. Additionally, there were outstanding fire code issues as well as life safety concerns that needed to be remedied. Vacant units were full of trash, abandoned furniture, and were considered un-rentable upon takeover of the property by Trigild.
Trigild’s takeover process involved increasing rentable units by removing trash and debris from common areas and vacant units, bringing the property up to standard by tending to life safety and deferred maintenance issues and increasing revenue by launching a program to capture uncollected rents. A marketing campaign, which included the addition of new signage at the property entrance, resulted in an increase in new leases, while attending to deferred maintenance issues improved retention rates for existing residents.