TPCG are experts in the renovation of C Class properties, a vital component in creating value and delivering maximum returns to our investors. We pride ourselves in the ability to successfully upgrade and bring a property to a condition that can command top market rents. This is a process that has been refined and perfected over several different aspects of the rehab projects we have undertaken. From designing and constructing new apartment layouts and overseeing construction crews, installing new framing and drywall, to interior design and paint schemes, we have the experience to ensure a successful renovation on time and under budget.
TPCG’s top priority next to delivering an excellent living experience for our tenants is maximizing returns for our investors. We also find it important to pay investor distributions promptly and frequently as cash flows allow. It is common for other asset management companies to wait 6-12 months before paying out a single distribution. We on the other hand, pay out distributions much sooner than that, sometimes as soon as one month after closing.
We have various strategies to manage several expense items on the income statement, such as water, gas, repairs and maintenance. This translates into NOI (net operating income) growth. Another driver of NOI is our ability to charge a premium on renovated units. Here are increases in rents we see following our rehab. On our most successful project, we were able to increase rents 80-90% and sell the property for 1.9X in 12 months.