We experienced an increase in resident retention, satisfaction, and referrals," commented David Kim, Managing Partner at Bascom.īascom achieved considerable success in reducing portfolio operating expenses. We decided to increase the offering of programs at each community. "Many owners discontinued their social outreach programs. These initiatives not only supported resident retention numbers, but also allowed for improved marketing campaigns as prospects were attracted to the convenience of these on-site services. Additionally, Bascom achieved greater success in reducing portfolio operating expenses by $4.31M or a 12.4% decrease from 4th QTR of '08.ĭespite negative market conditions that included significant job losses and competition from shadow rental inventory, Bascom minimized revenue declines by reducing resident turnover through the implementation of social outreach programs. Despite declines in market rents of 8.6%, Bascom's portfolio total income declined only 2.1% from the prior year period. 23 /PRNewswire/ - The Bascom Group, LLC ( ), a private equity company with an apartment portfolio consisting of 100 properties and 29,442 units nationwide, has successfully increased their portfolio net operating income by an impressive 11.8% or $3.04 million (4th QTR '08 vs.
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