The Company
Based in Cypress, Texas, the principals behind CKR Property Management have been serving clients and residents for over 25 years.
The Challenge
Manual Rental Pricing
Pricing leases manually created a daily challenge for Caroline Kane when she started CKR Property Management in 2012. To achieve growth while maintaining occupancy, Kane realized her company needed an integrated revenue management system to automate pricing recommendations. As a beta tester for Yardi RENTmaximizer with a different company back in 2009, Kane was already of a fan of Yardi solutions.
The Solution
Yardi RENTmaximizer
RENTmaximizer optimizes revenue by pricing leases using the balance between real-time inventory, traffic and market conditions. The system provides complete visibility into rent movement, financial and operational performance, and helps clients know their market.
The Story
Dynamic Automated Pricing
CKR added RENTmaximizer to its Voyager platform to automate rental pricing based on the goals for each asset. Kane commented, “RENTmaximizer keeps me from having to worry about pricing. After lease up we turn it on and the system does the rest.”
With RENTmaximizer, CKR’s overall revenue is up 8% year over year. Kane also shared that despite environmental issues in the Houston area that have held some communities back, CKR is growing while maintaining occupancy. And at one property that had been struggling for some time, with the help of RENTmaximizer the property achieved 28% growth in rental revenue.
Kane added “RENTmaximizer is unique because it seamlessly integrates operational and financial property information with market data to deliver optimal pricing. Yardi is truly an industry leader.”
