A residential estate in Nairobi with 60 units achieved 99% occupancy rate in 2024, up from 85% in 2023. The estate manager, Patricia Wambui, credits Royalmark's analytics and data-driven insights for identifying and addressing issues that were causing vacancies.
The Occupancy Challenge
In 2023, the estate had 15% vacancy rate (9 units vacant on average). This cost KES 540,000 monthly in lost rent. The estate management lacked data to understand why units were staying vacant longer than necessary.
Data-Driven Insights
Royalmark's analytics revealed patterns: units in Building A had 30% longer vacancy periods than Building B. Analysis showed Building A had maintenance issues that weren't being addressed promptly. The system also identified that units priced 5% above market average took 40% longer to fill.
Actions Taken Based on Data:
- Improved maintenance response time (from 5 days to 1 day)
- Adjusted pricing to market rates (5% reduction)
- Enhanced marketing for vacant units
- Improved tenant retention (renewal rate increased from 70% to 85%)
Results: 99% Occupancy
By Q4 2024, occupancy reached 99% (59 of 60 units occupied). Vacancy periods reduced from average 45 days to 7 days. Monthly revenue increased by KES 486,000 (from lost rent recovery).
Conclusion
Data-driven insights enabled the estate to achieve 99% occupancy. Analytics identified problems and solutions that manual management couldn't detect. For property managers, data is the key to maximizing occupancy and revenue.
