#United States #New York #Rentana #29th Street Capital #AI Revenue

Rentana’s Remarkable Growth in Revenue Management

Introduction
In a significant development for the proptech industry, Rentana, an AI-driven revenue intelligence platform, has recently been selected by 29th Street Capital (29SC) as its revenue management partner. This decision came after a competitive 90-day pilot program in which Rentana showcased its capabilities against an industry veteran, ultimately leading to a valuation increase of $4.6 million for the firm. This transformation marks a pivotal moment in how institutional real estate firms approach pricing and performance management.

The Decision-Making Process
In a crowded field of established competitors, 29th Street Capital recognized the need for a more effective revenue management system to support its expansive portfolio of over 12,000 units. To tackle this challenge, 29SC undertook a thorough two-month review of eight different software vendors, focusing on performance, usability, and control. The firm narrowed its selection down to two finalists: Rentana and a product from a well-known industry veteran.

Following the head-to-head pilot, Robert Waz, VP at 29th Street Capital, expressed confidence in Rentana, stating, "I would recommend Rentana without a doubt. The user interface is light-years ahead, and their data security gives us confidence. Their personalized platform allows us to make strategic decisions that enhance asset growth."

Performance Metrics
The results from Rentana's implementation were impressive, highlighting its superiority over its competitor:

• - Value Increase: The partnership with Rentana yielded an additional property valuation of $4.6 million, marking a 1.5x increase compared to peer properties.
• - NRI Performance: Rentana facilitated a 3.5% improvement in net rental income (NRI), helping 29SC achieve better rent growth and occupancy rates. In contrast, competitor-managed properties struggled with lagging growth and rising vacancies.
• - Operational Efficiency: Rentana proved to be remarkably efficient, with onboarding of new properties taking only 1 to 2 days, while legacy systems typically required 3 to 6 weeks. Furthermore, Rentana's support response time averaged just 5 minutes, a stark contrast to the 3-day delays experienced with older systems.
• - Rapid Feature Deployment: In a mere 90 days, Rentana rolled out 125 new features, including tailored tools specifically designed for the 29SC team, while its competitor introduced just one specialized feature.

The Rentana Advantage
The differentiating factors that set Rentana apart from legacy systems are its transparent pricing logic and the dynamic nature of its AI engine, which adapts to real-time market trends. Through intuitive dashboards and smart workflows, Rentana enhances team collaboration and decision-making speed. Julie Blanc, CEO and Co-Founder of Rentana, notes, "For years, the real estate revenue management space has been dominated by old, opaque systems. With the industry moving toward modernization and tighter margins, clients like 29SC are seeking innovative solutions that provide real benefits. Rentana is poised to redefine how revenue is managed in multifamily real estate."

Looking Ahead
As the demand for advanced revenue management solutions grows, Rentana is expanding its customer success teams and operational capabilities to accommodate increasing needs within the industry. The company's focus on rapid implementation and personalized support positions it as a leading force in the evolution of revenue optimization.

Conclusion
Rentana’s recent partnership with 29th Street Capital not only represents a landmark achievement for the startup but also signals a shift in the real estate industry’s approach to revenue management. With its innovative methodologies and focus on client success, Rentana is set to influence the success of multifamily operators for years to come. For more information about Rentana and to schedule a demo, visit rentana.io/demo.