How Terra helped Rockville go from
30 units to 1300 units
*company name has been changed to protect client privacy
About the company
Beginning as a property-management company in 2019, Rockville shifted to buying, owning, and operating their own properties nation-wide.
1300
2.5
2.5
2
The Background
Their good name was worth everything.
As a new real estate company, establishing their reputation as a successful operator was of highest importance to them.
The Challenge
They wanted to impress their investors, but were not able to create sophisticated financial reports.
While they had a bookkeeper to give the bottom-line numbers and create basic financial reporting, their reporting sorely lacked depth–which restricted their visibility.
This was a problem in 3 ways:
1) They didn't have hard actionable data their investors wanted to see. Rockville was nervous their investors would pull out–and they would be left dry.
2) It made institutional level investors completely inaccessible as they could not meet the reporting requirements.
3) They knew that to uplevel their business, they needed detailed and accurate financial reporting that told them where to cut costs and how to increase their revenue.
The Terra Solution
Detailed reporting that gave them actionable insights to maximize returns and drive growth.
Terra’s sophisticated financial reports would meet all their needs: Give their current investors confidence in their performance (and hopefully invest more), allow them to pitch to institutional investors, and give them actionable insights on where to cut costs and maximize profits.
The Switch
A strong operational system = seamless scaling.
Rockville was still a small operator when they reached out to Terra, and they were surprised by the streamlined systems and multi-faceted services. Were custom approval workflows or a thorough review of every move-in/move-out really necessary?
As they grew however and began utilizing the Terra platform on a larger scale, they quickly realized how establishing strong systems from the get-go enabled them to scale quickly–without the stress.
The Onboarding Experience
Snag-free operating from the start.
Onboarding Rockville was a smooth and seamless process. Rockville was live with their resident data and fully operating on the Terra platform from day one. And it's been the same for every new property they've added to their portfolio since.
The Result
Efficient operations + confident investors that put more capital into their company.
Rockville was able to generate sophisticated reports and track meaningful metrics in seconds–improving operations and giving their investors the confidence to invest even more capital into their company.
