SANTA BARBARA, CALIF., June 22, 2011 – Yardi announced today that it has hired two experts to help launch its new revenue management system, Yardi RENTmaximizer™. Lee Montgomery and Dharmendra Sawh bring 25 years of industry experience in the multifamily industry.
Montgomery most recently was a senior vice president of revenue management and analytics for Denver-based Apartment Investment and Management Co. (AIMCO), one of the largest multifamily REITs in the U.S., where he implemented one of the industry’s first revenue management systems. Also formerly with AIMCO, Sawh served as vice president of analytics and IT, focusing on building out property analytics and overseeing revenue management system implementation.
With revenue management systems capable of increasing a multifamily property owner’s revenue 3 to 6 percent, Yardi committed itself to providing a solution that improves the operational components that drive pricing. The result was Yardi RENTmaximizer, a cost-effective solution that automates the rental pricing process.
Yardi RENTmaximizer, which operates as part of the Yardi Voyager™ platform, helps apartment owners and managers set prices directly from the trends of supply, demand and market conditions (i.e., market comparisons). Using pricing algorithms, this holistic trends-and-rules-based model helps multifamily property managers maximize rental income and occupancy by pricing each new and renewal lease for maximum revenue. Yardi RENTmaximizer also provides complete transparency into how the price was determined to further facilitate the leasing process.
“I consider myself very fortunate to become associated with such an innovative product as RENTmaximizer. Automating rental pricing will give our clients the flexibility to offer a variety of leasing options that maximize their rental income,” Montgomery said.
“Voyager encompasses a variety of multifamily business solutions that have never before been offered as part of a core property management system. I look forward to the opportunity to make automated rental pricing a key element of the platform,” Sawh said.
“Our clients will benefit greatly from the expertise that Lee and Dhar bring to RENTmaximizer,” said Terri Dowen, senior vice president of sales for Yardi.
For a video overview by Dharmendra Sawh, click here.
Yardi Systems has been committed to the design, development and support of real estate investment management and property management software for nearly 30 years. With its Yardi Multifamily Suite™, Yardi Commercial Suite™ and Yardi Investment Suite™, the Yardi Voyager™ system is the most comprehensive single real estate management platform on the market today. Yardi serves clients around the world from offices in Asia, Australia, Europe and North America. More information about Yardi products and services is available at www.yardi.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255