Comprehensive research helps Florida-based multifamily property amenity services provider target new markets
SANTA BARBARA, Calif., March 26, 2018 – Actionable information on which multifamily markets offer the best prospects of penetration has fueled Valet Living’s rapid growth. For three years, Valet Living has used Yardi® Matrix, a business development and asset management tool for underwriting and managing real estate investments, to identify the number of Class A, Class B and garden-style properties in a market, unit mixes and the construction pipeline.
Thanks in part to Yardi Matrix, Valet Living now serves 1 million apartment homes in 38 U.S. states. Valet Living’s services include trash collection, recycling, turns (preparing units for new residents), pet care and maintenance. The company will soon announce additional resident-facing amenities.
“Yardi Matrix data, from the individual property level all the way to overall industry market conditions, drives our sales,” said Bruce Tokarski, senior financial analyst for Valet Living. “Apartment community attributes generate a scorecard that identifies the most promising communities to penetrate. This creates leads for our sales team. Before Yardi Matrix, we just walked up to a property and hoped for the best.”
He added, “Yardi Matrix research also helps our operations team. We can estimate the volume of trash generated per unit mix and therefore how much money and resources we need to budget for a community. In addition, new construction reports help us understand a market’s pipeline. All these reports are customized to our needs and make our lives easier.”
“Valet Living is a prime example of how Yardi Matrix delivers reliable information that transforms goals and strategies into dramatic success,” said Jeff Adler, vice president of Yardi Matrix.
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About Valet Living
Valet Living of Tampa, Fla., has been setting the standard for doorstep collection and recycling since 1995. Servicing more than 1 million apartment homes in 38 states, Valet Living is the only national provider of doorstep collection and recycling services and the only nationally recognized full service amenities provider to the multifamily industry. In addition to doorstep collection, Valet Living’s turns, maintenance and pet station solutions make life easier for both property managers and residents while improving property values. Valet Living is a portfolio company of the Private Equity Group of Ares Management L.P. (NYSE: ARES) and Harvest Partners LP. Valet Living has been named a Top Workplace by the Tampa Bay Times. For more information, visit valetliving.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 on how Yardi is Energized for Tomorrow, visit yardi.com.