Multifamily
Turn time is occupancy, and occupancy is revenue
What this class actually demands
Multifamily is decided in the gap between one resident moving out and the next moving in. Every day a unit sits is revenue that cannot be recovered later in the year, and the length of that gap is set by whether the paint, flooring and punch work can be scheduled immediately or has to be bid. The same is true of a work order: response time is the single thing residents cite most in renewal decisions, and it is entirely an operating variable. Rate matters, but rate is a market condition. Turn time is a choice.
Where HHP fits
Turns and maintenance are performed by our own personnel, so a unit turn is scheduled rather than tendered. That compresses the vacancy gap and means the cost of the turn reports as labor hours and materials rather than a contractor invoice with margin already priced in.
The numbers that decide performance here
Multifamily performance is an operating result, not a market one. These are the figures we hold against every community.
Turn time
Days from notice to rent-ready, measured per unit rather than averaged. Because turns are self-performed, this is a schedule we control rather than a vendor queue we join.
Cost per turn
Labor hours and materials per unit, separated from capital work. A turn cost that only exists as an invoice total cannot be managed.
Work order response time
Hours from submission to resolution. The number residents cite most at renewal, and one that is entirely within an operator’s control.
Renewal rate
Tracked against response time and turn quality rather than against rate alone, because renewals are usually lost on service and only blamed on rent.
Delinquency and collections
Aged by resident with the intervention history attached, so a collection problem is visible while it is still a conversation.
Controllable expense per unit
Separated from taxes, insurance and debt service, so the part of the operating line an operator can actually move is reported on its own.
Integrated services for multifamily
Six capabilities under one firm, so no part of the community is somebody else's responsibility.
Property Management
On-site operation by HHP personnel, with maintenance and turns performed in house rather than dispatched to a rotating set of contractors.
- Day-to-day property and on-site staff oversight
- Resident relations and service request coordination
- Vendor management and service quality oversight
- Preventive maintenance and capital planning
- Financial management, budgeting, and reporting
Advisory & Site Selection
Operational due diligence that reports what the community will cost to run, including the turn and maintenance load a rent roll never shows.
- Market and submarket analysis
- Operational due diligence and asset reviews
- Transition planning for new ownership or management
- Asset strategy development for stabilized and value-add properties
Transaction Advisory
We underwrite from the expense side because we operate communities, so the maintenance and turn assumptions are ones we would have to deliver.
- Valuation and underwriting support
- Buyer and stakeholder coordination
- Transaction execution support
- Post-transaction operational transition planning
Leasing & Occupancy Management
Rent positioning set against real turn capacity, so a leasing target is one the maintenance schedule can actually support.
- Leasing strategy coordination
- Rent positioning and renewal oversight
- Resident onboarding and move-in coordination
- Retention-focused resident engagement
Resident & Community Relations
Every call, request and follow-up logged against both the unit and the resident, so the full history of a tenancy is retrievable on request.
- Resident communication and issue resolution
- Community standards and lease compliance oversight
- Coordination of resident services and programming
Acquisitions & Development
Renovation and repositioning run through our own general contracting, which removes a layer of markup from every project above the maintenance threshold.
- Acquisition underwriting and operational review
- Development and redevelopment advisory
- Operational setup for new or repositioned assets
- Lease-up and stabilization planning
The HHP advantage for multifamily
Turns performed, not tendered
Paint, flooring, punch work and janitorial are performed by our own personnel. A turn starts when the unit is vacant rather than when a contractor has capacity, which is where vacancy days are actually won.
Same-day response as an operating standard
Work orders route directly to HHP Facility Services and, in most cases, are resolved the same day. Response time is the number residents remember at renewal.
Cost visible at the line item
Each order records labor hours, materials and time on site rather than resolving to an invoice. There is no subcontractor markup on self-performed work, and specialty vendors are engaged only where licensing requires it.
Reporting without the month-end lag
Occupancy, delinquency and expense variance reach owners as they land. The systems producing that reporting are built and maintained by HHP.
One firm accountable
Property management, the trades and the accounting report into the same principal, so a maintenance failure and its cost are answered by the same people.
The communities we take on
Turns and maintenance are performed by our own personnel, so a unit turn is scheduled rather than tendered — which is where vacancy days are actually won. That shapes the communities we want. Here is what we look for.
- A community where turn time and response time can be improved by operating it differently
- Deferred maintenance we can scope before closing rather than discover in the first quarter
- An ownership that wants controllable expense reported separately from taxes, insurance and debt service
- Proximity to our Tulsa and Oklahoma City personnel, so turns and maintenance are ours rather than dispatched
Tell us about the community
Send us the rent roll, the turn log and the last twelve months of operating statements. We will tell you where we think the vacancy days are going.