RentPush.com is more than a pricing product; it is an asset management system that takes many factors into the algorithmic computations.
Dallas, TX (PRWEB) September 16, 2013
Apartment Revenue Management is a relatively new concept of asset performance optimization through sophisticated algorithmic programming. The software weighs in multiple organic and extraneous factors to pinpoint the best price for the moment per unique unit. The travel industry has been using this system for thirty years. According to industry reports, about 20% of the multifamily market share is currently using revenue management software, primarily large REITS and large owner-managed property management companies like Equity Residential as an example. Many smaller operators have been unable to approach the heretofore expense to launch a full blown revenue management program—but that is changing fast.
“Our decision to develop apartment revenue management software was a natural progression of our knowledge base, both as a service provider to the apartment industry and as apartment industry experts since the seventies. Our thirteen years of experience as a service provider in the apartment industry in mastering Internet advertising, search engine positioning, demand management, market survey analytics and property management software integration has provided a solid foundation to build RentPush. We have property management professionals on staff at Spherexx.com, and many were involved in the conceptual development of our RentPush.com product, as well as a team of mathematical scientists and programming architects," states Wilson.
“RentPush.com is more than a pricing product; it is an asset management system that takes many factors into the algorithmic computations. We have no portfolio size limitations and our setup fees are marginal as compared to other providers. We wanted to create a product that is affordable and flexible, customized to our clients' specific income goals.”
Ms. Wilson will be presenting a brief overview of RentPush.com at the ARM Conference. The product was conceptualized in 2011 and launched for beta testing October 2012. RentPush Case Studies indicate actual rent per unit increases of 5.6% to 6.9%. Spherexx.com provides a variety of software services that easily and economically enhance the pricing matrix. While some revenue management software take into account market statistics provided from aggregated rental rates stored in mass data, RentPush.com encapsulates historical pricing as well as fresh market data that has been recently collected by leasing teams and RentPush internal research, which currently monitors 2.03 million apartment units nationally.
“What is the point of comparing pricing to what competitors’ residents may actually be paying? If a client uses that as a standard, they are assuming that their competitors have done as good or better job as the client in managing their communities; that the competitor can increase renewal rates because of their excellent maintenance and customer service, and that the rates have increased to the best possible potential. That is reverse marketing. What we focus on is what current prospects and residents are capable and willing to pay for individualized lease rates at a given time,” says Wilson, “Everything we build at Spherexx is designed around performance; our current RentPush clients are seeing increases beyond expectations and subsequently adding RentPush Revenue Management to more of their communities.”
The program incorporates a running case study performance report that shows immediate and historical trending for key performance indicators. The executive management level also creates continuous return on investment reports, debt service coverage ratios, and compliance summaries. An interactive make-ready module, mobilized specifically for management and maintenance, interfaces RentPush and calculates the economic impact of turnaround costs and effective management. Likewise, a commission tracking module is also available as a motivational and human resource tool.
RentPush.com has a very flexible integration with popular accounting systems and offers real time demand that measures how the public views price to value through ILoveLeasing.com Apartment CRM. The program feeds actual demand directly into the algorithm; for example, there are different requests for different sizes of apartments at different times of the year. The program is also compatible with apartment demand tracking programs. All Spherexx products are standalone while mutually beneficial when used in tandem.
RentPush.com has immediate integration with Spherexx.com’s Due Diligence unit inspection software, MultifamilyDueDiligence.com, that was created to perform best on an iPad/Tablet. This has been a very popular choice for apartment buyers and builders. Users can take the program with them as they inspect apartment units. There are correlating, grading, amenity features that will load, sort, and enumerate condition details for incredibly accurate condition evaluation.
Spherexx.com also offers a price presentation feature through ApartmentWebsites.com that assists the prospect via classic or mobile Internet with determining an available apartment style and price per move-in date. This website service presents pricing and lease terms options from any revenue management software provider. Spherexx.com also writes custom accounting software integrations and is in the process of offering additional integrations with multi-family industry accounting software providers. A budget preparation tool and pro forma analysis plugin is also on the horizon.
Additionally, RentPush.com provides pricing manager services with highly experienced asset management teams.
About RentPush.com® div Spherexx.com
RentPush.com is a high functioning, science-based matrix that collects and crystallizes integral market data into optimum per unit, pricing by type, occupancy date and lease term. RentPush.com automatically analyzes current rent roll criteria, leasing history, competitor market data, regional trends, plus other factors that impact pricing structure. It generates the best rates for renewals and new leases to maximize total revenue growth. RentPush.com forecasts rents and adds time tested industry specific metrics to guide customized revenue management strategy to its science-driven structure.
Spherexx.com is recognized as an established leader in the apartment industry website, Internet marketing and software development services since 2000. With offices located in Tulsa, Dallas, and Houston, the company has been distinguished as one of INC5000’s fastest growing companies. Spherexx.com is a recipient of the International Summit Creative Award 2012 for creative and communication excellence and the Internet Advertising Competition award for best real estate website, and it is also a 2013 Webby Honoree.
Spherexx.com offers a wide selection of professional services including web design and development, touchscreen kiosks, Internet lead generation tools, online advertising, apartment leasing consulting, advanced mobile technology, apartment lease-up marketing consulting, and search engine performance. The company also provides branding services, video/multimedia production, print media, and copywriting as well as website and email hosting, database solutions, pay per click, e-commerce solutions and custom programming.
The company has developed CRM (customer relationship management) products, marketing and lead generation tools that allow clients to better manage and convert leads to leases and sales. These applications are branded under ApartmentWebsites.com, Messagekast.com, ILoveLeasing.com, MarketSurveyTools.com, and RentPush.com. Spherexx.com provides web-based prospecting, marketing, advertising management, and support services.
In its third year, the Apartment Revenue Management Conference is the apartment industry’s only event for revenue managers, asset management executives and business intelligence analysts striving to stay ahead of the ever-changing operational curve.
The conference features expert speakers from inside and outside the apartment industry who exceed expectations by delivering a holistic perspective on the strategies and tactics to effectively improve revenue generation. Typical attendees include revenue managers, operations executives, marketing department directors, risk managers and business intelligence experts whose primary focus is multifamily rental housing.