Property management company raises rent while decreasing its turnover rate
SANTA BARBARA, Calif., May 19, 2016 —Portland-based Dalton Management has adopted Yardi RENTmaximizer™ to optimize rental pricing and reduce apartment turnover. Yardi RENTmaximizer is a revenue management system built into the Yardi Voyager® platform.
According to Jeffrey Denson, owner and COO for Dalton Management, “With RENTmaximizer, our pricing is based on lease expirations so we avoid too many in one month, which stabilizes occupancy levels. In fact, RENTmaximizer has decreased our turnover rate by 20%.”
RENTmaximizer has also made Dalton Management better aware of how its properties compare to the rest of the market.
“We were able to raise rents at a property we thought was keeping up— now we’re getting $100 more per unit and maintaining occupancy.” Denson concluded, “Having a dedicated revenue analyst with RENTmaximizer helps keep our staff engaged in the revenue management process, so that we are able to make the most of the system.”
Dalton Management sought to consolidate its operational data on the single stack Yardi Voyager platform. The company also uses Yardi Energy Solutions®, ResidentShield® Protection Plan™ and RENTCafé® portals for a complete business solution that includes online marketing, leasing, and resident services.
“Companies like Dalton Management are more competitive when they are able to maximize revenue and occupancy at the same time. It is satisfying that Dalton is doing this successfully with RENTmaximizer as part of the Voyager full-business platform,” said Terri Dowen, senior vice president of sales for Yardi.
About Dalton Management
Since 1985, Portland-based Dalton Management has provided hands-on property management services for the company’s growing portfolio of properties in Portland and Western Oregon. For more information, visit www.daltonmngt.com.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information, visit www.yardi.com.