Leading affordable housing management company optimizes rental income growth with Yardi’s revenue management system
SANTA BARBARA, CALIF., April 08, 2014 — Yardi announced today that Memphis-based Alco Management, Inc. has reported significant benefits using Yardi RENTmaximizer™, a transparent revenue management system built into the Yardi Voyager® property management and accounting solution. Alco Management uses the Yardi Voyager single-stack platform to manage their 6,300-unit portfolio including 1,200 conventional units and HUD, tax credit and PHA units.
According to Michael Johnson, executive vice president of Alco Management, “With RENTmaximizer, we quickly increased our rental income and reduced concessions. In fact, at one property our rental revenue increased four percent, annualized, in the first month. Overall, we have achieved a nearly four percent net increase in monthly revenue in just two months with RENTmaximizer.” He added, “Occupancy has increased and we expect a very quick ROI for RENTmaximizer. Plus, the system is so easy to use and works seamlessly with Voyager and the other Yardi solutions we’ve adopted.”
He continued, “Our implementation went very smoothly thanks to the skilled and knowledgeable RENTmaximizer service team. The recommendations made by our dedicated revenue manager from Yardi have been excellent and ensure that the system is working to meet our operational needs and business goals.”
In addition to Yardi Voyager and Yardi RENTmaximizer, Alco Management also uses RENTCafé™, Yardi Resident Screening™, Yardi Payment Processing™, Yardi Energy Solutions™, and Yardi Procure to Pay™ to achieve an end-to-end real estate marketing and management platform with full mobility.
“We’re thrilled that Alco Management is optimizing their rental income growth and occupancy with Yardi RENTmaximizer as part of their Yardi single-stack business solution,” said Terri Dowen, senior vice president of sales for Yardi.
About Alco Management, Inc.
Alco Management, Inc. has developed, acquired and managed apartment communities throughout the Southeastern U.S. for more than 40 years and is regularly ranked among the leading owners and operators of affordable housing nationally. For more information, visit www.alcomgt.com.
Now in its fourth decade, Yardi® is committed to the design, development and support of software for real estate investment management and property management. With the Yardi Multifamily Suite™, Yardi Marketing Suite™, Yardi Commercial Suite™, Yardi Investment Suite™ and Yardi Orion™ Business Intelligence, the Yardi Voyager® platform is a complete real estate management solution. It includes marketing, operations, accounting and ancillary processes and services with portfolio-wide business intelligence and platform-wide mobility. Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in North America, Asia, Australia, Europe and the Middle East. For more information, visit www.yardi.com.