The Company
Singh Management develops high quality properties that meet market needs while enhancing the communities it serves. The company is a nationally ranked U.S. builder, real estate developer and manager with properties located in Michigan, North Carolina and Virginia. Its growing portfolio includes apartments, senior living, single family homes and commercial properties.
The Challenge
Improving Occupancy with Better Pricing
With some properties underperforming in a market with high rents, Singh struggled to bring up and maintain high occupancy for the past few years. Manual rent adjustments, without accurate insight into comps, also created missed leasing opportunities.
The Solution
Yardi RENTmaximizer
Yardi 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 — including every comp and how they compete. And because it’s built into the mobile Yardi Voyager platform, Yardi RENTmaximizer can be accessed from smartphones and tablets.
The Story
Rental Growth Achieved
According to Mike Leja, Yardi administrator for Singh Management, “After using Yardi RENTmaximizer for five months we already experienced amazing results — our revenue was consistently higher for the Yardi RENTmaximizer properties.”
Since using Yardi RENTmaximizer, Singh’s leasing agents have had more success with flexible lease terms, lease expiration management and offering discounts to fill stale units sitting empty for over 800 days. Leja added, “Even some high-occupancy properties achieved an average 10% occupancy jump using Yardi RENTmaximizer.”
Yardi RENTmaximizer also provides clients with a dedicated revenue analyst. Regular meetings between their analyst and Singh’s onsite staff and regional managers provide expert insight and valuable advice where pricing improvements can be made. This level of service gives helps Singh increase rents with confidence — even at properties with high occupancy.
