Case Study: Green Residential SFR Boosting Fund Value

Green Residential overview

Green Residential is a promising emerging REIT that has made significant strides in the Texas and Oklahoma real estate markets. The company boasts a highly experienced team, including a seasoned Blackstone operator and an accomplished large-scale property management owner. With their deep knowledge of the real estate market, Green Residential is well positioned to continue its impressive growth trajectory in the years to come.

$100M+

Fund Size

350+

Single Family Homes

15-20

Employees

A and B

Asset Class

What did Green Residential hope to achieve by partnering with Sunroom?

Challenges

Green Residential faced challenges in measuring and optimizing its internal property management performance due to a lack of data-driven operations capabilities. Although being traditional asset managers and operators, they recognized the potential benefits of an analytical approach to leasing but lacked the means to develop a dedicated data team.

While internal property management had its advantages, the leasing arm struggled to provide the necessary insights to drive fund returns, especially as they sought to acquire properties in multiple markets and maintain a lean team. This challenge was compounded by the time-consuming task of working renter leads, detracting from their primary focus of raising funds and acquiring properties.

Objectives

Optimizing their internal property management performance through the implementation of a data-driven approach. Leveraging data to drive decision-making and improve fund returns.

Green Residential seeks to streamline leasing operations and minimize the time spent on renter leads in order to focus on core activities such as raising funds and acquiring properties. Ultimately, the company aims to improve efficiency and profitability while maintaining a lean team structure.

How did Green Residential benefit from Sunroom's data-driven leasing?

Results

Sunroom implemented data-driven leasing insights and technology into the fund’s operations.

Rent-setting tactics the largest asset managers are using.
Dynamic rent reports for markets, with more data, accounting for seasonality and off-market listings.
SunSpot graph: Intelligently raised rent prices by using real time market response data.
Property health checks to monitor renter conversion funnels and self-showing battery levels.
Aged-listing playbook for problematic listings that are not getting enough activity.
Optimized concession program to ensure everything possible was done before lowering market rents.
Accountability of renovation finishes through property condition reports that capture the home from the perspective of renters.
Weekly consultancy meetings to optimize the portfolio and fund’s performance.

“As a single-family investment fund, our goal is to provide renters and investors with a high quality experience and return. The addition of using Sunroom to handle our leasing demand has given our team the boost it needed and freedom to focus our attention on the things we do best. We’re grateful for their partnership and the excellency in which they lease our homes and make renters happy.”

- Burton Hanson,
Senior VP