Expanding real estate owner and developer improves rental growth and portfolio reporting with transparent revenue management and business intelligence built into Yardi Voyager
SANTA BARBARA, CALIF., JULY 27, 2015 — Yardi announced today that Raleigh, North Carolina-based 10 Federal has reported significant rental income growth and increased occupancy using Yardi RENTmaximizer™, a dynamic revenue management system built into Yardi’s full business real estate platform featuring the Yardi Voyager® property management and accounting solution at its core. 10 Federal also utilizes Yardi Orion™ Business Intelligence for holistic insight with action-oriented monitoring to drive portfolio performance and deliver clear reporting for their investors.
Committed to producing strong results for their investors and providing quality homes for their residents, 10 Federal leverages Yardi solutions to ensure business-wide efficiencies, including growing rent revenue and occupancy at their properties. With Yardi RENTmaximizer, 10 Federal has seen 3.5% rental income growth, and 30% or greater improvement in their lease terms.
According to Brad Minsley, co-owner of 10 Federal, “Yardi RENTmaximizer allows us to react much more dynamically in our pricing for down-trending markets and still maintain a 94 percent rate of pre-leased units, while our competitors are generally seeing about 70 percent. We’re also uniquely able to maintain a high income requirement and credit standards, which is especially important in a military market where turnovers tend to be more frequent. Thanks to Yardi RENTmaximizer we are signing new leases, our renewal rates are sustainable, and we don’t have to offer concessions.”
Yardi RENTmaximizer has improved 10 Federal’s performance in both up and down markets by enabling them to adjust rent prices quickly and maintain target occupancy levels, and also provides leasing reports for their investors. Minsley elaborated, “What I really like about Yardi RENTmaximizer is that I can enter last week’s information and not only does the New Lease Rent Growth report show metrics on the percentage growth basis, but it also breaks it down to individual leases.” He added, “We’re experiencing improved economics portfolio-wide, and we can attribute that to Yardi RENTmaximizer.”
Minsley concluded, “Yardi Orion Business Intelligence is a great tool for us to quickly and efficiently convey the various performance metrics of our properties to our investors — they love the easy-to-understand reports and how fast we can deliver them. And I really appreciate the ability to customize our reporting.” In addition to Yardi Voyager, Yardi RENTmaximizer, and Yardi Orion Business Intelligence, 10 Federal uses Yardi Payment Processing™, RENTCafé®, Yardi PopCard™, Yardi Resident Screening™, and Yardi Energy Solutions™ to maximize the Yardi platform for a full business approach.
“We are delighted that 10 Federal is leveraging the Yardi single-stack solution — including Yardi RENTmaximizer and Yardi Orion Business Intelligence — to increase their rental income growth and occupancy while they provide superior service to their investors with fast and accurate performance reporting,” said Terri Dowen, senior vice president of sales for Yardi.
About 10 Federal
10 Federal is a diversified real estate development and management company based in Raleigh, North Carolina. With a mission to generate superior risk-adjusted rates of return through a focus on vertical integration and strategic finance, 10 Federal leverages their experience in land entitlement, real estate development, general construction, property management, HUD/government finance, and implementation of leading technologies to achieve their goals. For more information, visit www.10federal.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 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.