DALLAS, TX – Revenue Edge is pleased to announce a substantial revenue lift was achieved during the first 6 months of its partnership with Western Rim Property Services (WRPS). Revenue Edge manages 4,181 units in the WRPS portfolio and has seen in-place effective rent growth as high as 5.6%, while rents for new move-ins climbed an average of 6.4% and average days vacant fell from 20 to 14.
“Revenue Edge has done a remarkable job in a short period of time. The revenue lift we’ve achieved has exceeded our expectations,” commented Lori Bush, Executive Vice President, WRPS. “With Revenue Edge’s guidance, we have pushed new lease and renewal rents more aggressively than anticipated and our managers are becoming more strategic operators. In fact, our original intention was to bring the pricing advisory in-house next year, but given the success we have seen in this short period of time we have decided to extend our partnership with Revenue Edge through 2013.”
"We are extremely pleased with the return on investment that WRPS has achieved thus far,” concurred Stacy Westbay, founder of Revenue Edge. “In addition to working closely with their team to monitor new lease rents, we also piloted a renewal program on three properties in August. The average renewal increase thus far has been 7.3%. That’s a great start for the program.”
Revenue Edge: Revenue Edge provides a cost-effective alternative to hiring an in-house Revenue Manager. With a focus on partnering with clients at every stage, Revenue Edge is positioned to provide crucial services for multifamily companies that do not have the internal resources to dedicate to the deployment and ongoing oversight needed to establish a successful revenue management program. Offering a full spectrum of services including collaboration during the software selection and implementation, training, daily pricing review, as well as performance analysis, Revenue Edge maximizes monthly revenue, while increasing asset value.
About Western Rim Property Services: Western Rim Property Services and its wholly owned affiliate, Mansions Custom Homes, has developed more than 15,000 apartment homes that are operating or are in the construction and planning phases in Dallas / Fort Worth, Rockwall, San Antonio and Tyler, Texas. Western Rim and Mansions Custom Homes take great pride in being on the cutting edge of design and aims to provide the service of a Ritz Carlton Hotel and the quality of a fine custom home at an affordable price.