RentPush.com® Apartment Revenue Management Scores Big in South Texas New Construction Lease-Up
MacDonald Companies’ Apartment Construction Project Attained Stabilized Occupancy Beyond Income Projections
By: MacDonald Companies Inc.
MacDonald Companies Inc. decided to incorporate an apartment revenue management software service to assist in the challenge. They selected RentPush.com®
A year later, Oakland Hills was 97% occupied, having achieved a stabilized occupancy of 93.3% in just seven months. Rent per occupied unit increased by 15.4% during the first year. The resulting actual rent per occupied unit exceeded pro-forma by $50 per unit, which generated an additional $83,700 in annual income. When applying a 6.5% capitalization rate, the gain equaled a value of 1.3 million over projections.
“RentPush was literally worth a million dollars to us,” says Ed Partridge, CPM®, HCCP, Asset Manager for MacDonald Companies. Mr. Partridge discusses how Oakland Hills advanced in a video interview located at RentPush.com/
Readers can see the interview with Ed Partridge as well at https://www.youtube.com/
About RentPush.com div Spherexx.com
RentPush is asset optimization software based on scientific modeling and simulation combined with operational controls, performance goals, compliance platform, ROI monitoring and forecasting. It won the 2014 Multi-Housing News Technology Choice Award for Revenue Management.
About MacDonald Companies Inc.
MacDonald Companies Inc. is a family-owned group of companies specializing in developing, building, and managing multi-family neighborhoods across Texas. They are committed to build with sustainability, quality and comfort in mind. For thirty years, MacDonald Companies has been actively involved in development of subdivisions, including the installation of streets and utilities, as well as the construction of single family, multifamily, and commercial units.
MacDonald Companies is a member of the National Association of Home Builders’ (NAHB) and serves on the Rural Housing Council and Multi-family Council, along with state and local government affairs committees.