Technological Innovation Reaches the Multifamily Industry with a New Business Intelligence Tool to Evaluate Leasing Performance and a Comprehensive Training Platform to Enhance Leasing Skills and Outcomes
HOUSTON, Oct. 25, 2023 /PRNewswire/ — REV™ The Multifamily Leasing Company, the industry leader in multifamily leasing management and optimization, unveiled REV Leasing Score™ (RLS) and REV Leasing University™ (RLU). RLS and RLU are engineered specifically for mid-market to institutional multifamily owners, asset managers, leasing managers, and HR directors across the U.S. to evaluate and enhance leasing operations.
RLS is a new, powerful, tech-driven business intelligence tool built solely to quantitatively evaluate the leasing operations of multifamily assets. RLU is a revolutionary e-learning platform now available to uptrain leasing employees and leasing managers across portfolios nationally. RLS and RLU work synergistically as RLS identifies areas for improvement and RLU teaches leasing skills to achieve better performance and maximize asset revenues in an increasingly competitive leasing market.
“Through our on-the-ground experience and our proprietary process and technology, REV Leasing Score offers an unrivaled level of analysis, precision, and insight into fundamental leasing metrics driving property performance. Ownership and asset management now have a transparent, full-scope assessment of all aspects directly impacting their assets’ revenues and values,” said Peter Roisman, REV’s Co-Founding Principal, President and CEO. “As users embrace data-driven insights from RLS, they can then utilize RLU to increase the leasing skills of agents and managers, resulting in higher occupancy rates, increased revenues, and an industry-wide elevation of standards.”
Focused on People, Process, and Product (3Ps), RLS is a finely-tuned quantitative model offering a high-ROI, comprehensive evaluation of over 500 data points on an apartment community’s ability to provide an optimal leasing experience, secure lease signings, and maximize revenue and asset equity. The RLS report breaks down the component scores to highlight the contribution of each of the 3Ps to leasing performance.
The RLS methodology is a robust and rigorous process that generates actionable, bias-free insights for three key audiences: asset management/ownership, regional/executive property management, and property management. Each audience receives specific metrics they can track and influence to propel superior leasing performance.
“REV is phenomenal. I’ve been in the industry for 39 years and REV has achieved the fastest leasing turnarounds I’ve ever seen. We’ve worked with REV for years and these new tools they’ve developed are game changers,” said Suan Tinsley, Former President of Houston Apartment Association (HAA) and Co-Founding Partner at Dayrise Residential.
In a competitive market where leasing is the primary driver and controllable variable in occupancy and revenue, these insights are vital for owners to maintain and accelerate growth and power due diligence and decision-making for acquisitions and dispositions. Applying REV expertise and RLS methodology, owners and managers can efficiently benchmark and compare performance, driving portfolio-wide improvements.
Through a mystery-shopper methodology, leasing interactions are conducted via web, phone, and onsite, each with unique parameters and metrics reflecting organic/typical leasing traffic. Data is recorded over two weeks and across all modes of leasing interaction between up to 15 simulated renters and a community’s leasing team from initial contact to closing.
With RLU, REV solves the problem of leasing staff competency and training, including frontline and management team members. Available only to RLS users, RLU is a customized, scalable e-learning platform providing a first-of-its-kind leasing management curriculum engineered to make leasing management and operations functions more effective by enhancing teams’ skills and performance. The courses are customized according to the RLS report to address the areas where leasing teams need the most improvement, empowering them to self-correct and evolve autonomously.
“REV offers data-driven tools my clients can leverage to enhance their operations, drive results, and manufacture performance in the toughest market climates. They solve for a vital piece of our operational platform that is challenging to face alone. As a multifamily owner/operator, REV has been a valuable partner,” said Biff Ramsey, Principal, Burton Asset Management, and COO, MTN Investment Group.
REV™ has provided leasing strategy solutions under expert directorship and leasing data analytics since 2019. REV’s leasing strategy consulting guides leasing operations teams strategically toward performance excellence and generation of alpha. REV has serviced more than 35,000 multifamily units and is consistently delivering unprecedented revenue and asset equity growth for owners across the country. REV’s services include REV Leasing Score™, the multifamily industry’s most objective and thorough assessment of a property’s leasing performance, and REV Leasing University™, a scalable, self-service e-learning program.
Kirky Galt, LEED AP
SOURCE REV The Multifamily Leasing Company