Spherexx Revenue Management Lease Up for MacDonald Companies, Inc. at Oakland Hills
The MacDonald Companies engaged Spherexx Revenue Management (formerly known as RentPush.com) to maximize rents, reduce losses and improve value throughout the lease-up, into stabilization, and beyond. The software’s innovative lease-up module tracks construction delivery by building, floor plan and unit. It applies the algorithmic formula and specific control parameters to determine demand and absorption and then suggests pricing and lease terms that will maximize income and avoid future lease expiration bubbles. The algorithm quickly adapts to changes in the delivery schedule and re-calibrates accordingly.
Oakland Hills achieved stabilized occupancy in the first seven months and 96.7% occupancy after the first year of receiving the first certificate of occupancy. They simultaneously experienced a gain of $163 per occupied unit in rent, which translates to a 15.4% increase. Actual rent per unit exceeded pro-forma rents by $49.82 per unit in one year.
To learn more, schedule a private DEMO at http://www.Spherexx.com/Quote.