Expanding property manager and developer increases rental income with transparent revenue management built into Yardi Voyager
SANTA BARBARA, Calif., Feb. 23, 2016 — Yardi announced today that West Bloomfield, Michigan-based Singh Management has reported rental revenue growth using Yardi RENTmaximizer™, the revenue management system built into the Yardi Voyager® full business real estate management platform.
According to Mike Leja, Yardi administrator for Singh Management, “We’ve been using Yardi RENTmaximizer for five months and we’re already experiencing amazing results compared to the properties in our portfolio not yet using the system — our revenue is consistently higher for the Yardi RENTmaximizer properties. After the first month, the Yardi RENTmaximizer properties were performing at 7% higher, and by the fifth month, they reached rental growth of 18.5%.” Leja added, “Even some high-occupancy properties achieved an average 10% occupancy jump using Yardi RENTmaximizer.”
As part of using RENTmaximizer, Singh is provided a dedicated Yardi RENTmaximizer analyst. Regular meetings between the analyst and Singh’s onsite staff and regional managers provide expert insight and valuable advice where pricing improvements can be made. Since using Yardi RENTmaximizer, 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.
In addition to Yardi Voyager and Yardi RENTmaximizer, Singh Management utilizes Yardi Procure to Pay™, Yardi Resident Screening™, Yardi Payment Processing™, and RentCafe®, which are all part of the Yardi Voyager single stack platform.
“We are pleased that Singh Management is using our single stack solution — including Yardi Voyager and Yardi RENTmaximizer — to improve rental growth, gain higher occupancy and provide excellent customer service,” said Terri Dowen, senior vice president of sales for Yardi.
About Singh Management
Since 1973, family owned and operated Singh Management has been committed to developing high quality properties that meet market needs while enhancing the communities they serve. The company is a nationally ranked U.S. builder, real estate developer and manager with properties located in Michigan, North Carolina and Virginia. Their growing portfolio includes apartments, senior living, single family homes, and commercial properties. For more information, visit www.singhweb.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.