Case Study: Northwest Phoenix Portfolio achieves stable occupancy and protects rental income with RealPage revenue management

Northwest Phoenix Portfolio holds occupancy at 92.1% with RealPage

RealPage assisted a portfolio in Northwest Phoenix that was facing a challenge common in the Southwest in early 2024. New developments drove down rents and made sustaining occupancy difficult, forcing many properties to rely on heavy concessions to compete.

RealPage implemented a disciplined revenue management strategy for the customer that prioritized occupancy, limited concessions, and adapted quickly to market changes. This approach resulted in a significant outperformance versus the submarket. While the submarket's effective revenue contracted by 1.9%, the portfolio's revenue only contracted by 0.1%. Occupancy was held steady at 92.1%, nearly matching the market average, and renewal conversion rates outperformed the submarket average by 3.6%.