Rent per home up 25% through the rebrand and remodels

A 44-unit community got a fresh identity along with its new interiors. In 2018 and 2019, Kleinman remodeled 23 units, rebranded the property and refreshed its common areas.

Remodeled homes re-leased for a median $155 more per month, from $930 to $1,075. Between 2017 and 2021, rent collected per unit rose from $901 to $1,129 a month, rental income grew to $596K, and NOI rose from $240K to $327K.

By the numbers

• Remodeled homes: +$155/month (+17%)
• Rental income: $476K to $596K (+25%)
• NOI: $240K to $327K (+37%)