Property management company gains 48% increase in GPR, eliminates concessions
SANTA BARBARA, Calif., June 21, 2016 —Austin, Texas-based Rockbridge Group has adopted Yardi RENTmaximizer™ to increase rental income and improve occupancy. Yardi RENTmaximizer is a responsive revenue management system built into the Yardi Voyager® platform.
According to Amanda McHugh, training and development manager for Rockbridge, quantifiable results have already been realized.
“With RENTmaximizer, we have achieved an average 48% increase in gross potential rent, even at properties undergoing renovations — that’s significant,” McHugh said.
RENTmaximizer also provides analytics that take the guesswork out of pricing.
McHugh continued, “Thanks to RENTmaximizer, we have eliminated all concessions and specials. We have even renewed some leases at market rate.”
“By automating rental pricing that factors in portfolio and market data, RENTmaximizer not only improves rental income while maintaining occupancy, it simplifies the process by eliminating rent rate guesswork and traditional sales devices such as concessions and specials,” said Terri Dowen, senior vice president of sales for Yardi.
About The Rockbridge Group
In 2014, Greg Tolander and John Miller acquired FirstService Residential Realty, one of the largest property management servicer for banks, government sponsored enterprises and institutional investors, and rebranded it as The Rockbridge Group. Rockbridge currently manages over $600 million worth of assets in five states and nine submarkets across the country. For more information, visit www.therockbridgegroup.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.