The Company
Based in Salt Lake City, Utah, Bridge Property Management has overseen the management of more than $4 billion in investment properties over the past 25 years for both large and small real estate investors. To increase rental income growth across its portfolio, Bridge sought to replace its existing revenue management software with a customizable, integrated solution.
The Challenge
Do Away with Disparate Systems
To improve property performance insight and optimize pricing, Bridge sought to replace rigid revenue management software that lacked transparency.
The Solution
Yardi RENTmaximizer
RENTmaximizer is a dynamic revenue management system designed to maximize rental revenue by targeting the specific goals for each asset, and to optimize performance using real-time traffic, inventory, and market conditions. The system provides total visibility into rent movement and property performance.
By switching to Yardi RENTmaximizer, Bridge gained seamless integration with its Yardi Voyager property management platform, along with options to tailor the system to its specific needs — flexibility that its former software didn’t offer.
The Story
Revenue Growth Achieved
With the desired customization options, visibility into pricing and property performance — along with the unique support of their Yardi revenue analyst, Bridge quickly achieved the rental income growth they desired. As a result, Bridge is pricing all of their multifamily properties with RENTmaximizer.
“We love that RENTmaximizer allows us to pick and choose the features that work best for us,” commented Tim Reardon, former director of revenue management and now chief operating officer for Bridge. Because RENTmaximizer is integrated with Voyager, the transition from our old software was smooth and super easy. It took minimal training to get our properties up and running.”
Reardon also raved about the support of the Yardi team. He elaborated, “Between the constant line of communication with the RENTmaximizer team and the twice-yearly YASC focus groups, we have the ability to share ideas and issues very easily — and get enhancements and fixes fast.”
