PropUp and OTH Capital announced the deployment of PropUp’s property maintenance and renovation platform to support OTH’s aggressive multi‑property turnaround program. The partnership is aimed at accelerating unit turns across a portfolio, enabling real‑time monitoring of renovations and digitized inspections and work orders for faster, more transparent execution.
Under the alliance, PropUp supports OTH’s plan to reposition 560 Class C units to Class B over a 36‑month window, including two flagship properties, Astra and Carina. The collaboration centralizes operations, provides continuous visibility to field technicians, vendors and asset managers, and reduces downtime during turnovers.
PropUp reports that its platform was deployed with a team of 10 staff members trained in a single day, allowing OTH to track every unit turn and coordinate multiple renovation schemes while maintaining occupancy across its portfolio.
In terms of results, OTH achieved a dramatic reduction in turnover downtime: Astra turnover downtime dropped from 63 days (including leasing) to 21 days, while Carina fell from 57 to 25 days. Over the renovation period, OTH renovated an average of 24 units per month—well above the original target of 15 units—while rents rose by 12% at Astra and 9% at Carina. The combined occupancy rate across both properties stayed at 91.25% during renovation work.
OT H Capital completed a full property repositioning and disposition in 15 months, delivering a 2.32x return and an 81.4% internal rate of return (IRR). “The results speak for themselves,” said William Gottfried, CEO of PropUp, highlighting faster unit turns, reduced vacancy and an accelerated path to disposition. Nicholas Yarnall, Managing Partner at OTH Capital, added that PropUp’s real‑time tracking and user‑friendly interface were critical to meeting tight timelines.
The case study will be presented at the 2025 NMHC OPTECH Conference & Expo on Tuesday, November 18, 2025, at 11:00 AM, at the MGM Grand Hotel & Casino in Las Vegas, detailing how PropUp supported OTH’s approach to accelerating unit turns, reducing downtime and sustaining occupancy throughout the repositioning program.
