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CASE STUDY
WHY RENTPUSH
REVENUE OPTIMIZATION& ASSET MANAGEMENTSpherexx Optimize (formerly RentPush) was established in 2013 as an asset optimizer and stabilizer that lifts revenue while streamlining workflows, integrations, and auditing functions.
Spherexx Optimize is algorithmic, scientific, and artificially intelligent. It serves and it learns based on the company’s specific goals and objectives.
Although unique in many respects, these aspects are most noteworthy in relationship to other revenue management providers:
LEVERAGING THE POWER OF PRICING OPTIMIZATIONThe following, current case studies showcase how Spherexx Optimize has performed for different types of product in various markets. The program is highly adaptable to specific income goals and supported by an experienced, professional account management staff.
• Integrations with Property Management Software of Choice
• Dedicated Account Manager/ Revenue Manager
• No Additional Licensing, Maintenance, Training Fees
• 100% Optimize Team Setup
• Automated Pricing and Override Options Available
• No Outsourcing: Under One-Roof on American Soil
• Outstanding Customer Service: Humans Answer the Phone
• No Portfolio Limitations
• Built-in Accounting Audits
“Spherexx Optimize was literally worth a million dollars to us.”Edward B. Partridge, CPM®, HCCPAsset Manager, MacDonald Companies, Inc.
Spherexx Optimize
HOW IT WORKS
DATA IN AND OUT
2SPHEREXX.COM® | 9142 S SHERIDAN ROAD, TULSA, OK 74133 | 866.491.7500 | WWW.SPHEREXX.COM | [email protected]
NEW LEASE PRICING& EXPIRATIONS GRID
RENEWAL PRICING& EXPIRATIONS GRID
Competitors Pricing Trend
Competitors Pricing Guestcard
Demand Forecast with
Seasonality
UnitAmenities
RenewalMTM
Policy
RenewalCap
RenewalTerm
Preference
FloorplanAmenities
BlackoutExpirations
ExpirationManagement
Min/MaxControl
PricingLength
RentControl
Unemploy-ment
CPIOccupancy Trending
Expirations Detail
Leasing Velocity
Current Vacancy
TargetOccupancy
Aggressive-ness
ExpectedGrowth
HistoricalPricing
TurnaroundCost
ECONOMIC COMPETITORS PROPERTYPREFERENCE
FAIR PRICINGFORECAST SUPPLY
AMENITIES
RENEWPOLICIES
RULES AND CONTROLS
PARAMETERS
DEMAND
MARKET AREA TREND-$43 PER UNIT / -4.7%* 9 Zip Codes / 10 Mile Radius
328 Units | 20-Month Lease-upSIOUX FALLS, SOUTH DAKOTA
ABOVE MARKET21%
CHALLENGE:Construction and lease-up of a new luxury product at premium rates through adverseseasonal conditions.
RESULTS:Leasing momentum and velocity were maintained and property stabilization achieved in recordtime with no concessions.
OCCUPANCY
THE NUMBERSAverage Lease Per Month 22
Average Per Occupied Unit $1052
Average New Lease $1061
Average Market Rental Rate $876
0%
20%
40%
60%
80%
100%
Aug Sep Oct Nov Dec Jan Feb Mar Jan Feb MarApr May Jun Jul Aug Sep Oct Nov Dec
3SPHEREXX.COM® | 9142 S SHERIDAN ROAD, TULSA, OK 74133 | 866.491.7500 | WWW.SPHEREXX.COM | [email protected]
CHALLENGE:Older community undergoing renovation to compete with new product. Vacancy turn-over time islengthened, maintaining occupancy and income while introducing upgraded units are client's goals.
RESULTS:Community upgrades achieved with minor occupancy disruption and per unit pricing escalation inconjunction with client's goals.
RENT PER OCCUPIED UNIT
ARLINGTON, TEXAS248 Units | Built 1970 Competing with New Product | Asset Renovation
THE NUMBERSAverage Rent Per Occupied Unit Gain $69
Average Occupancy 91%
Average Renewal $57
Average Renewal Conversion Rate 70%
OCCUPANCY
Jan Feb Mar Apr May Jun Jul Aug Jun Jul AugSep Oct Nov Dec Jan Feb Mar Apr May Oct Nov DecSep
Jan Feb Mar Apr May Jun Jul Aug Jun Jul AugSep Oct Nov Dec Jan Feb Mar Apr May Oct Nov DecSep
80%
85%
90%
95%
100%
REVENUE
$125k
$150k
$175k
$200k
$225k
10.3%YOY REVENUE INCREASE
MARKET AREA TREND-$47 PER UNIT / -4.2%* 12 Zip Codes / 10 Mile Radius
$780
$808
$836
$864
$892
$920
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
4SPHEREXX.COM® | 9142 S SHERIDAN ROAD, TULSA, OK 74133 | 866.491.7500 | WWW.SPHEREXX.COM | [email protected]
$780
$808
$836
$864
$892
$920
Aug Sep Oct Nov Dec Jan Feb Mar Jan Feb MarApr May Jun Jul Aug Sep Oct Nov Dec
RENT PER OCCUPIED UNIT
ARLINGTON, TEXAS228 Units | Built 1974 Competing with New Product | Asset RenovationSold April 2019
Average Rent Per Occupied Unit Gain $101
Average Occupancy 94%
Average Renewal $54
Average Renewal Conversion Rate 60%
THE NUMBERS
OCCUPANCY
Aug Sep Oct Nov Dec Jan Feb Mar Jan Feb MarApr May Jun Jul Aug Sep Oct Nov Dec80%
85%
90%
95%
100%
REVENUE
Aug Sep Oct Nov Dec Jan Feb Mar Jan Feb MarApr May Jun Jul Aug Sep Oct Nov Dec160k
170k
180k
190k
200k
MARKET AREA TREND-$67 PER UNIT / -5.7%* 14 Zip Codes / 10 Mile Radius
YOY REVENUE INCREASE14%
CHALLENGE:Older community undergoing renovation to compete with new product. Vacancy turn-over time is lengthened, maintaining occupancy and income while introducing upgraded units are client's goals.
RESULTS:Community upgrades achieved with minor occupancy disruption and per unit pricing escalation inconjunction with client's goals.
5SPHEREXX.COM® | 9142 S SHERIDAN ROAD, TULSA, OK 74133 | 866.491.7500 | WWW.SPHEREXX.COM | [email protected]
THE NUMBERS
REVENUE INCREASE13%
42 Units | Built 2007 | Niche Market - 7 months | Asset StabilizationIntermittent Short Term Availability
DELRAY BEACH, FLORIDA
Occupancy Stabilization +11%
Average Renewal Conversion Rate 63.3%
Average Community Rate $2,547
Average Market Rental Rate $2,000
REVENUE STABILIZATION
CHALLENGE:Small, luxury property in niche market competes with extended stay hotel and condominium rentals.
RESULTS:Asset's occupancy, renewal, and revenue were stabilized beyond area market rates.
$0
$20000
$40000
$60000
$80000
$100000
$120000
Sep Oct Nov Dec Jan Feb Mar
MARKET AREA TREND+$144 PER UNIT / +7.8%* 9 Zip Codes / 10 Mile Radius
6SPHEREXX.COM® | 9142 S SHERIDAN ROAD, TULSA, OK 74133 | 866.491.7500 | WWW.SPHEREXX.COM | [email protected]