Concord Rents sought real-time data insights to drive growth in occupancy revenue

The Challenge

Concord Rents sought real-time data insights to drive growth in occupancy revenue

Concord Rents, a national leader in the property management industry, faced the challenge of gaining insight into key metrics such as occupancy, staffing, market rent rates, and profitability for each of their locations. The leadership team recognized that having this information was crucial to achieving their business objective of growing occupancy revenue over the next 12-month period. They needed a solution that would provide them with real-time data, leveraging their use of Yardi, with actionable insights to identify and address issues affecting occupancy, staffing, and rental rates.

The Action

Concord Rents partnered with Calligo to develop an Analytics Portal on Microsoft Azure

Concord Rents collaborated with Calligo to tackle their data analytics requirements. Leveraging their proficiency in data analysis, data integration, and data visualization, Calligo not only developed an Analytics Portal but also seamlessly integrated Concord Rents’ Yardi property management system into the platform.

This solution included cutting-edge dashboards and successfully unified data from all locations, all of which were expertly managed by a dedicated team of data professionals. By building the Analytics Portal on Microsoft Azure and harnessing the capabilities of Microsoft Power BI, Concord Rents’ leadership and operations teams were empowered with a holistic view of their property portfolio. This comprehensive perspective allowed them to readily identify locations that required attention due to issues such as underserving or underperformance, and to take swift action to address concerns related to occupancy, staffing, and rental rates. Furthermore, the portal delivered real-time updates and presented data through intuitive visualizations, enabling Concord Rents to make informed, data-driven decisions with confidence.

The Impact

Concord Rents’ Analytics Portal drove significant revenue growth, improved occupancy rates, and optimized staffing.

The implementation of the Analytics Portal had a significant impact on Concord Rents’ revenue growth and operational efficiency. The results achieved over the 12-month period were outstanding. Occupancy revenue increased double digit, surpassing the initial target. This growth translated to significant additional revenue for the organization.

By leveraging the power of data analytics, Concord Rents gained deeper insights into their business operations. They could identify and address bottlenecks and inefficiencies promptly, resulting in improved occupancy rates, optimized staffing, and more competitive rental rates. The ability to make informed decisions based on real-time data empowered the leadership team to maximize revenue opportunities and drive overall profitability.

Through their collaboration with Calligo and the implementation of the Analytics Portal, Concord Rents successfully achieved their revenue growth objectives and strengthened their position as a leader in providing high-quality, affordable multifamily housing. The solution not only provided valuable insights but also showcased the potential of data analytics to transform the property management industry and drive success for forward-thinking organizations like Concord Rents.