Case Studies

The Challenge

The property struggled to optimize revenue streams due to lapses in fee collection and a failure to capitalize on potential ancillary fees.

The Limestone Solution

We performed an exhaustive financial analysis, identifying and correcting deficiencies in fee collection. A rigorous system for prompt late fee retrieval was implemented, and through comprehensive scrutiny, previously overlooked ancillary fees were identified.

The Bottom Line

Increased Income: Limestone’s interventions yielded a 5% increase in property income by addressing fee collection inefficiencies and identifying latent revenue streams.
Enhanced Retention Rates: Proactive fee collection positively impacted tenant relationships, fostering increased satisfaction and consequently improving tenant retention rates.

The Challenge

An Association grappled with escalating operating costs and lacked a structured, long-term plan to guide financial decisions.

The Limestone Solution

We conducted an exhaustive operational analysis, pinpointing avenues for cost reduction without compromising service quality. Working closely with the client, we crafted a comprehensive 5-year strategic plan for sustained cost management and aesthetic property maintenance.

The Bottom Line

Cost Reduction: Limestone’s strategic approach effectuated a reduction in operating costs while upholding service quality, thereby enhancing overall operational efficiency.
Strategic Roadmap: Our 5-year strategic plan provided the association with a blueprint for informed financial decisions, mitigating uncertainties and optimizing resource allocation.

The Challenge

An Absentee (Out-of-state) Owner wanted to increase revenue.

The Limestone Solution

Limestone performed an extensive survey of the situation and realized there were many areas that could be improved upon, and others that needed to be completely overhauled. We first focused on improving the quality of tenants by reducing Operating Expenses and restructuring the amenities in CAM. Further, we were able to decrease long-term operating costs by implementing a multi-year improvement plan. These changes improved occupancy and reduced turnover.

The Bottom Line

Reduced CAM: 7%
Improve Occupancy: Reduced vacancy by 11%
Reduced Turnover: Increased renewals by 6%
Increased bottom-line revenue by a whopping 13%!

The Challenge

Occupancy was at a very low 62% and owner did not understand why.

The Limestone Solution

Limestone recognized that asking rent structure was too high for the area and the buildings were poorly maintained. Tenant utility bills were abnormally high because leaks went undetected. Further, several Tenants were out of contract and were month to month well below the local market.

We reduced the general rent asking structure to current market rates, while getting the current tenants on these current terms and long-term contracts.

We invested in improving the condition of the buildings to attract more tenants and keep existing tenants.

The Bottom Line

Occupancy after 12 months is at 82% and is rising. We expect occupancy to be at 90%+ in another 6 months.

The Challenge

As a subdivision of larger HOA, owners of the subdivision were disappointed with the visual quality of the neighborhood despite high dues.

The Limestone Solution

By working with relationships forged over many years, we were able to subcontract with superior landscaping companies for exactly the same rate as previously paid. Further, we coordinated community-wide discount program where homeowners could get very steep discounts on visual items such as pressure washing, roof cleaning, irrigation repairs, outdoor lighting, and more. Over 80% of residents took advantage of these discounts and the community looks amazing.

The Bottom Line

The community looks better than ever with zero additional costs or assessments.