Case Study
Glenwood
Operational Performance
+93.6%
NOI Growth
99%+
Pre-Lease
43.9%
Renewal Rate
−84%
Cost Per Lease
At A Glance
Location
Provo, UT
Asset Class
Student Housing
Beds
1,156
University
Brigham Young
Onboarded
March 2021
Years Managed
5+
Units
196
Previous Ops
Local Operator
The Approach
Leasing-led Operating Model
Unified marketing, pricing, and on-site execution under a single framework — with weekly pricing reviews tied to lead-to-lease conversion and submarket benchmarks.
Marketing Rebuilt Around Intent
Reallocated spend toward high-intent channels — search, ILS, and BYU-specific targeting — while rebuilding the property website around floor plan clarity and faster lead capture.
On-site Team Development
Onboarded the existing team into Redstone’s training systems — consultative tour methodology, follow-up cadence standards, and renewal-first resident engagement.
Reporting & Transparency
Weekly performance reporting against pre-lease, occupancy, and marketing efficiency benchmarks — giving ownership clear visibility into what was working and what wasn’t.
The Approach
Glenwood has pre-leased at 99%+ for two consecutive cycles and renews residents above the student housing market average. Cost per lease has fallen from $62.51 in 2022 to $10.27 today — an 84% reduction in customer acquisition cost while occupancy and rents continued to climb.
“The work at Glenwood was disciplined, not flashy. Same building, same beds — different operating system, and the numbers followed.”
— Redstone Operations Team
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