Reno+ by Buckingham: Faster Renovations, Accelerated Returns

At Buckingham, we believe a renovation strategy shouldn’t just improve aesthetics—it should enhance financial performance. That’s the goal of Reno+, our occupied renovation model built to speed up timelines, capture rent premiums sooner, and significantly reduce vacancy loss from renovation downtime.

A Smarter Renovation Model

Traditional renovation strategies often rely on lease expirations and vacant units. Reno+ takes a different path—upgrading occupied units with minimal disruption. This approach means:

• Renovated units hit the market faster

• Rent premiums are captured sooner

• Vacancy losses from renovation downtime are significantly reduced

• No need to wait for lease expirations to begin construction

Our Reno+ team is specifically trained to execute occupied renovations efficiently and respectfully, ensuring consistency, quality, and resident care without interrupting daily routines.

The Financial Advantage

For investors, Reno+ isn’t just operationally efficient—it’s a strategy that drives asset value faster. Here’s how:

• Speed to Premiums: Renovating at pace allows us to achieve higher rents sooner, accelerating Net Operating Income (NOI).

• Condensed Timelines: Reno+ enables us to complete large-scale projects—like +/-300 units—in as little as six months, allowing value to be realized and monetized earlier.

• Reduced Downtime: With little to no renovation-related vacancy, assets remain productive throughout the project lifecycle.

• Proactive Procurement: Materials are sourced upfront, helping to avoid delays and insulating costs from market volatility.

Real-World Results

Reno+ is already delivering measurable results across our portfolio:

Gramercy – Carmel, IN
• 196 units renovated
• 2.33 units per day
• 4-month total duration

Altitude at Blue Ash – Blue Ash, OH
• 57 units renovated
• 2.85 units per day
• 1-month total duration

CityWay – Indianapolis, IN
• 136 units renovated
• 2.72 units per day
• 2-month total duration

These case studies demonstrate the scalability and speed of the Reno+ model—even across large, operationally complex properties.

Renovation Scope, Built for Velocity

A typical 1-day Reno+ scope includes:

• Cabinet and countertop replacement

• Appliance upgrades• New light fixtures and electrical devices

• Plumbing fixture replacements

• Bathroom hardware and accessories

• Kitchen and bath flooring replacement

Full-unit paint and full flooring are typically completed during turns but can be included in an expanded 2-day scope as needed.

Every unit is audited 90 days in advance, allowing us to forecast scope, materials, and timing with high accuracy—minimizing surprises and protecting timelines.

Why It Matters to Investors

In value-add real estate, speed to income is everything. Reno+ allows us to move faster than traditional models—unlocking rent growth earlier, increasing NOI, and ultimately boosting asset value. That translates into better outcomes: stronger valuations, higher refi proceeds, and more strategic optionality—whether that means recapitalizing the deal or exiting at a premium.

Reno+ delivers what today’s investors prioritize most: velocity, value creation, and flexibility.

Let’s talk about how Buckingham’s renovation strategies can maximize your portfolio’s performance.