Yardi announced today that Pennsylvania-based Hankin Group has added Yardi RENTmaximizer™ to its web-based Yardi Voyager® property management and accounting platform to optimize revenue management and increase rent growth for its multifamily properties.
Before Yardi RENTmaximizer, Hankin Group was updating rental prices once per year and was not taking advantage of frequent market fluctuations. Site managers had to rely on manual calculation methods for their markets, and struggled to maintain competitive prices.
According to Michael Hankin, chief operating officer for Hankin Group,“Thanks to Yardi RENTmaximizer, which works seamlessly with our Yardi Voyager property management and accounting platform, our site managers no longer have to manually figure out competitive rents in their markets. After only 90 days using Yardi RENTmaximizer, we’ve seen an effective rent growth of 5%. We really appreciate the support we get from the Yardi RENTmaximizer team including weekly pricing calls with our dedicated revenue management expert. It’s so advantageous to have their analysis and input on how we are pricing our properties relative to our markets and business goals.” He added,“As great as the Yardi RENTmaximizer algorithm is, having that second set of eyes on our data makes us feel like we have a safety net.”
In addition to Yardi Voyager and Yardi RENTmaximizer, Hankin Group also uses Yardi Payment Processing™, Yardi Procure to Pay™, Yardi Resident Screening™, and RENTCafé™ from the Yardi Multifamily Suite™ to further automate, integrate, and streamline processes.
Hankin concluded,“With Yardi RENTmaximizer we can identify in real time any potential issues we need to address to continue to achieve consistent rental income growth for our properties.”
“We are delighted that Hankin Group has joined many other valued clients in taking advantage of the Yardi Voyager single-stack solution including Yardi RENTmaximizer to increase revenue growth and realize operational gains across their portfolio,” said Terri Dowen, senior vice president of sales for Yardi.
About Hankin Group
Hankin Group (hankingroup.com) is comprised of industry professionals with expertise in planning, design, engineering, legal, approvals, finance, construction, leasing, sales, marketing and property management. With this full range of capability, Hankin Group guides every aspect of a project from conception to completion. Recognized with numerous awards for quality, design, innovation and sustainability, Hankin Group has been developing communities for more than 50 years.
Now in its fourth decade, Yardi® (yardi.com) is committed to the design, development and support of software for real estate investment management and property management. With the Yardi Multifamily 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.