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ERP OPERATING LTD PARTNERSHIP

What Do They Do?

Owns and manages rental apartment properties for residents in major U.S. metro areas.

How Do They Make Money?

Residents pay rent for residential apartment leases, generally year-to-year and renewable annually or monthly; rent is earned monthly over the lease term.

Year to Dec 2009 revenue

Who Are Their Customers?

Residents rent apartment homes directly through leases; residential leases are generally year-to-year and can renew annually or monthly.

Do Revenues Turn Into Profits?

Yes. It kept 20 cents of every revenue dollar as net income in Year to Dec 2009.

Operating income, Year to Dec 2009
27% of revenue
▲ +16% vs Year to Dec 2008 ($458.2M, 23%)
Net income, Year to Dec 2009
20% of revenue
▼ −12% vs Year to Dec 2008 ($433.8M, 22%)

How Are They Changing?

Since the latest annual report
  • Aug 17, 2026 Merged with AvalonBay and changed its name to Vivmark Residential The merger closed, and the company changed its name from Equity Residential to Vivmark Residential.

Growing. Revenue grew 7% in 2 years, from $1.8B in Year to Dec 2007 to $1.9B in Year to Dec 2009, about 3% a year.

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