RISMEDIA, June 24, 2011—Yardi announced recently 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.
According to the company, 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.
More information about Yardi products and services is available at www.yardi.com.