The Company
Bellevue, Washington-based HNN Associates specializes in multifamily and mixed-use properties. For its multifamily communities, HNN operates each asset with a commitment to meet the goals of its institutional and private investors.
The Challenge
Consistent Pricing with Better Data
An inconsistent approach to rental pricing, including too much guesswork and a lack of analytics — along with inflexible leasing terms, led to potential revenue loss and missed leasing opportunities. To drive revenue growth and reduce operational costs, HNN sought an integrated revenue management solution with analytics.
The Solution
Yardi RENTmaximizer
To meet (and even exceed) its investors’ expectations, HNN chose RENTmaximizer — seamlessly built into their Yardi Voyager property management and accounting platform. 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 HNN’s rent movement and property performance.
The Story
Rental Income Optimized
RENTmaximizer delivers dynamic rental pricing, with leasing and occupancy analytics and benchmarking data to support the right pricing decisions for every HNN property. HNN also selected RENTmaximizer for the unique service it includes: a dedicated revenue expert.
According to Philip Nored, owner and managing partner, “Efficiency and effectiveness is important in everything we do. We evaluated several other revenue management products prior to selecting RENTmaximizer. With RENTmaximizer, we have a dedicated revenue manager at Yardi who does an outstanding job helping us achieve our specific goals.”
Nored further elaborated on the efficiency of using a single-database mobile platform — bringing together accounting, property management, leasing, maintenance and reporting to make HNN a more effective and prosperous company.
