Our Successes

Westcorp’s Empire apartment community in the Las Vegas area is a great example of a property with consistently high usage and very happy residents and property staff. Because of the success of this property Westcorp is expanding Envoy into their portfolio. Westcorp decided to leverage their cap ex budget to prepay for the vehicle reducing their monthly amenity fee immensely.

When Westcorp took over management at Woodhaven, it was on the verge of being shut down by the City and Building Code Enforcement division. Occupancy was 74%, there was severe delinquency in rent payments, and the property was generating a mere $72,215 per month.

Immediately after taking over management, Westcorp implemented much-needed policies and procedures, repaired long-overdue damages, improved amenities, and even instilled a sense of community in its residents. In April 2015, less than nine months into its management, Westcorp saw an increase in payment and fees of over $101,000, a 40% increase since taking over, and occupancy was at 90%. In addition, Westcorp was lauded by local authorities for turning one of the worst properties in the area into one of the best in less than a year, and Woodhaven became a model for other properties in the area.

Like Woodhaven’s challenges, Las Palmas Apartment was also on the verge of being shutdown by the Fire Department and Building Code Enforcement office, when Westcorp took over the property management. Unclear leases, multiple break-ins, squatters, and a general feeling of unwellness permeated the community. However, due to Westcorp’s extensive experience and skill in managing and turning around properties, it was able to turn things, including tenant attitudes and feelings of safety, and wellbeing within just a few weeks. Within six months after Westcorp took over its management, occupancy increased from 73% to 95%. An accomplishment virtually unheard of in the industry.

When Westcorp took over Vibe apartments, the property lacked appeal to prospective residents, was unable to increase occupancy level and felt unsafe according to its residents at that time. However, Westcorp was able to turn around the property and make it competitive by renovating over 100 units, revitalized the clubhouse and curb appeal with modern finishing, added fresh paintwork to building exteriors and a brand-new pool to the community. Westcorp also rebranded the community with the new logo and ensured there was an onsite security patrol. Occupancy was 73% when Westcorp took over management, but it grew to 90% within six months because of our lease-up, branding, and maintenance expertise.

One of Westcorp’s core business strategies in property management is to ensure that we increase the market value of the communities we manage for the owners. Taking over the management and marketing of SW apartments immediately after completion and delivery was another massive success for Westcorp. Our professional management expertise in lease-ups and maintenance was key to better positioning and quickly increasing the property’s market value. For example, the property units were quickly absorbed a few months after delivery, and occupancy averaged about 95% at the time of sale. Over the past five years, we have successfully leased up multiple brand-new communities within concise time frames, including Dream Apartments, Union, The Wyatt, Lyric and Evolve Apartment Homes.