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Ended 2025 with more move-outs than move-ins (net loss of 16 rentals).Occupancy dropped to about 76% by December.January 2026 has started flat — occupancy and revenue haven’t improved yet.Also had more move-outs than move-ins in 2025 (net loss of 11 rentals).Still finished the year strong with around 87% occupancy.Revenue dipped in November but recovered in December.January 2026 is holding steady — occupancy and revenue are about the same as December.
January 2025 Revenue: ~$21.2KDecember 2025 Revenue: ~$31.7KChange: Up by about $10.5K, a ~50% increase over the year.
January 2025 Revenue: ~$15.9KDecember 2025 Revenue: ~$22.2KChange: Up by about $6.3K, nearly a 40% increase.
Move-ins (2025 YTD): 73 total move-ins during 2025.Move-outs (2025 YTD): 89 total move-outs during 2025.Net Rentals (2025): –16 (a net loss of 16 occupied units over the year, indicating occupancy declined).Gross Potential Rent (Dec 2025): Approximately $25,860 per month at year-end (the maximum rent if all units were rented at standard rates).Actual Occupied Rate (Dec 2025): ~76.1% occupancy (226 of 297 units occupied). This reflects a significant vacancy rate (~24% units vacant).Total Revenue (2025): Approximately $303,500 for the year. December 2025’s monthly revenue was about $31,700.
Move-ins (2025 YTD): 92 total move-ins during 2025.Move-outs (2025 YTD): 103 total move-outs during 2025.Net Rentals (2025): –11 (net loss of 11 units occupied, so a slight occupancy decline over the year).Gross Potential Rent (Dec 2025): Approximately $19,238 per month as of year-end.Actual Occupied Rate (Dec 2025): ~87.4% occupancy (264 of 302 units occupied) – a strong rate, with roughly 13% vacancy.Total Revenue (2025): Approximately $158,300 for the year. December 2025 monthly revenue was about $22,226.
260115 Apex Meeting Notes
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A big thing would be to focus on any lease ups stats this month and the plan to keep getting new tenants.
Thu, Sep 18
An update on the ad spend ROI would be great too.
Thu, Sep 18
Review rates at both Verona and Ocean City make adjustments to drive rental growth
@Larissa Fincher
Thu, Sep 18
Auctions contributed mostly to vacates
Thu, Sep 18
Aggressive Promo
@Andrew Aue
Thu, Nov 20
Rate Review
@Larissa Fincher
Thu, Nov 20
Track Cube Smart
@Andrew Aue
Thu, Nov 20
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Ocean City (MD):
Verona (KY):
Ocean City (MD):
Verona (KY):
Performance Summary for Ocean City & Verona (2025 Year-End and Jan 2026 Trends)
Ocean City (MD)
January 2026 performance: As of early January 2026, Ocean City’s occupancy remains around 76% – essentially flat compared to December. In other words, there has been no net gain in occupied units to start the new year. Correspondingly, revenue so far in January is on a similar pace as December (no significant increase or drop noted), indicating a steady but not improved start to the year in both occupancy and income.
Observation: Ocean City’s occupancy fell from the high-80% range in early 2025 to about 76% by December, which has dampened its rental income potential. The net loss of 16 units over the year and the resulting lower occupied rate suggest challenges in either attracting new tenants or retaining existing ones. With the new year starting at the same occupancy level (no improvement in January), operations should focus on boosting move-ins and reducing move-outs. Increasing occupancy back toward 90% would significantly improve Ocean City’s gross potential rent and actual revenue going forward. In short, the property ended 2025 on a weaker note and has not yet seen an uptick in occupancy or revenue in January – a trend management will want to reverse as soon as possible.
Verona (KY)
January 2026 performance: Verona’s occupancy at the start of 2026 remains about 87%, essentially unchanged from December. This suggests the property has held onto its tenants through the turn of the year (no major move-outs or gains in early January). Likewise, revenue in January so far appears steady and in line with December’s level – we do not see a notable uptick or downturn yet, indicating a stable start to the new year on both fronts.
Observation: Verona maintained relatively high occupancy throughout 2025 – peaking around the mid-90% range at one point and ending the year at ~87% occupied. The small net loss of 11 units over the year suggests minor slippage in occupancy, but overall Verona’s performance was solid. The higher occupied rate translates to a healthier revenue base; however, we did observe an unusual drop in revenue in November 2025 (monthly revenue fell to around $12.6k, far below typical levels) followed by a rebound in December to $22k+. This swing could indicate a one-time issue (such as bad debt write-offs or credits in November) that was resolved by year-end. From an operations standpoint, Verona ends 2025 in a strong position (87% occupied) and has started January 2026 stable. The key will be to continue pushing occupancy back toward the 90+% range and smoothing out any collections issues. With occupancy holding steady into January and no immediate revenue drop, Verona appears steady, but there is opportunity to grow occupancy and monthly revenue further in 2026 if new move-ins can outpace move-outs.
Month-over-Month Trend Summary: Both properties saw occupancy decline in late 2025, and neither has shown an increase in occupancy in the first weeks of January 2026 – occupancy rates for Ocean City (~76%) and Verona (~87%) are flat compared to December. Accordingly, revenue trends are also flat going into January (no surge in collections vs. December) for both locations. In short, the new year is starting cautiously: Ocean City continues to operate with a large vacancy and needs aggressive leasing to turn the trend around, whereas Verona remains relatively well-occupied and stable, though it too would benefit from new rentals to regain the ~90%+ occupancy it enjoyed mid-2025. Keeping an eye on these metrics, Ocean City’s team might prioritize marketing and promotions to drive move-ins, while Verona’s team should aim to sustain its high occupancy and address any factors (like the November revenue dip) that could affect collections. Overall, December 2025 provided a baseline, and January 2026 so far is neither markedly better nor worse – it’s a steady start, with room for improvement in the coming months.
Sources: Apex EOM Report (Dec 2025) for year-end metrics; Management Summary (Consolidated, Dec 2025) for occupancy and financial data. The figures and trends above are derived from these reports.
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