Bluestone and Hockley Real Estate Services

UPDATED 23-AUGUST-2011

Rachel Anne Apartments, one of the multifamily properties managed by Bluestone & Hockley Real Estate Services (B&H), was recently approved by City of Gresham to receive Apartment Rehabilitation Grant*. This program is offered exclusively to properties in Rockwood area.Located on Burnside Street, this was a golden opportunity for these apartments…[...]

UPDATED 21-June-2011

The residents of Rachel Anne apartments could not hide their excitement when the news of the pool makeover reached them! The deserted pool got a completely new look before it opened this summer, for the first time in 2 years… [...]

Challenge:

We began managing the 33 unit apartment complex during an economic downturn.

Solution:

We replaced the onsite manager, adjusted the rents to market and offered competitive promotional specials.

Result:

Within six months we had successfully rented all of the apartments.

Challenge:

When we began managing the fifty-five unit apartment complex there were ten vacant units.

Solution:

Within one month we successfully rented all of the vacant units, without having to use expensive promotional inducements.

Result:

A fully rented complex.

Challenge:

The owner of the apartment complex was self managing the apartments until he chose us. We knew the first year would be spent correcting existing problems. There were multiple delinquent tenants and large number of tenant concessions.

Solution:

We successfully evicted delinquent tenants and reduced tenant concessions.

Result:

During the second year of management we reduced the cost of delinquent tenants by 63%, reduced tenant concessions by 58% and increased the apartments’ income by 13%.