Spellbinder

Use Case

Maximizing property renovation ROI through data-driven investment prioritization

Real Estate · Discovered in 5 days · Mid-Market Property Management

Illustrative purposes only

The Situation

A mid-market property management company needed to optimize their renovation budget across 200+ units to maximize rental returns.

Before

Inconsistent renovation ROI led to unpredictable financial outcomes. Extended 24-day average vacancy periods after renovations drained potential revenue.

After

Targeted kitchen investments delivered 27% ROI within the first year. Post-renovation vacancy periods dropped to just 9 days, significantly improving cash flow.

The Spellbinder Difference

Spellbinder analyzed 250+ property renovations across the client's portfolio. The system examined renovation costs by category, rental rate changes, tenant application volume, time-to-lease metrics, and renewal rates by renovation type.

Key Findings

Kitchen upgrades yield 2.3x higher returns than bathroom renovations. Properties with modernized kitchen appliances command a 12-18% rent premium. Stainless steel appliances produced 3.4x more tenant applications than standard fixtures. Units with kitchen islands leased 52% faster.

In-unit laundry renovations delivered higher ROI than bathroom updates. Smart home features yielded only 1.2x ROI despite high prospective tenant interest. Exterior cosmetic updates showed minimal rent impact but improved tenant retention by 14%.

Testimonial

"Spellbinder resolved in days what would have taken months of spreadsheet analysis and educated guesswork. We've completely transformed our renovation strategy based on these insights, and we're already seeing dramatically better returns."

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Environmental Compliance