YieldStar™ Revenue Management Optimizes Rent Pricing
Third-party property management RKW Residential actively works behind the scenes for their owners to increase revenue for new leases and renewals. Since adding RealPage’s YieldStar™ Revenue Management to their toolkit, Holly Casper, Vice President of Operations for RKW, is impressed with the increased efficiency and effectiveness they have achieved in managing occupancy and rent pricing. Instead of manually entering settings and overrides for lease expirations and rent pricing, RKW lets YieldStar handle unit-level adjustments for expiring rental terms or promotions.
In addition, with YieldStar owners can price each unit daily by reviewing all property, market and concession data to set the best rent to help stabilize occupancy and maintain profitability. Using RealPage technology for gathering and analyzing the most accurate and current research that matters to properties, YieldStar reviews data including market surveys, unit types, pricing categories and availability to help balance occupancy with rent price for the most competitive rate to achieve optimal property performance. By putting this real-time data at their fingertips, YieldStar can help RKW and their property owners set the best rent for that unit on that day, at that point in time for that property—and avoid leaving any money on the table. And transitioning properties with new ownership to a new property management company is much easier and faster with YieldStar as part of the process.
For more information, visit RealPage® Revenue Management.