Revenue Management

Property managers want to lease to a prospective resident at a fair price, but don’t want to concede too much in lease negotiation. Revenue management is about finding the perfect point in the middle, where the price is right in the customer’s view and yet still adds to the bottom line. If it’s priced too low, you’ve lost money. If it’s priced too high, you’ve lost the customer. In short: The challenge is to sell the right resources to the right customer at the right time for the right price.

data science

Data Science Techniques for Real Estate

As discussed at RealWorld 2018 Most people won’t argue with you about the importance of data. There are more data sources now than ever before, and we know we need to tap into them—but collecting the right metrics, interpreting properly and translating into business decisions that improve results is another story. Savvy property management professionals are[]

apartment amenities

3 Ways to Drive Revenue from Apartment Amenities

If companies make one wrong assumption, millions of dollars of investment becomes a wasted effort. In multifamily, no investment is perhaps more misunderstood than the luxury apartment amenity. Popular opinion tells property managers that the market value of an outdoor fitness center or luxury swimming pool will offset the cost of building. But months later,[]

property management

7 Tips to Improve Your Property Management Expenses and Financials

The accounting, purchasing, and budgeting processes in property management don’t have to be painful. Managing the complexities of a large or small portfolio of apartments and other lease properties requires a keen eye and efficient processes. And as difficult and cumbersome as it may sound to blend all the moving parts of property management into[]

revenue management software

Revenue Management Software is Paving the Way for the Future

When a leader with 20 years of experience in revenue management software and business intelligence talks analytics, you don’t expect to walk away with new ideas for communication, collaboration and profit for your business. Keith Dunkin is the senior vice president of YieldStar, the revenue optimization and business intelligence platform at RealPage, Inc. Dunkin is an integral part of[]

Business Intelligence Senior Housing

The Power of Business Intelligence in Senior Housing

Manage the growth of senior housing through business intelligence As more baby boomers age, the prospective pool of senior living residents – and with it the need for senior housing – grows each day. While the metrics that drive multifamily marketing may appear to diverge when it comes to senior housing, marketers should not overlook[]

performance benchmarking

What is Performance Benchmarking and Why Does Your Score Matter?

Imagine looking out your windshield while driving through the apartment industry landscape, searching for actionable intelligence that maximizes investment yields and asset returns. The countryside is full of dashboards, graphs, and data that would presumably help you formulate a strategy to attract new renters and maintain existing residents. The unfortunate reality is that data currently[]

revenue management

Growing the Pie on Revenue Management

Revenue management helps property managers find the right balance in rents Whether a community is leasing up for the first time, undergoing a makeover or just riding the ebb and flow of market cycles, apartment owners and operators must find the right balance in rent prices so their properties perform at maximum efficiency. However, equalizing[]

5 Reasons You Need Lease Transaction Benchmarking

How do you measure property performance? For years, owners, operators and investors have sought out this answer. Many will call up their local competitors (or pay someone to do it) with cleverly disguised voices and ask, “How much does a one-bedroom cost?” They do this week after week, assuming that they are not only getting[]

renter nation

The Shift Toward Renter Nation

A consistent sentiment among multifamily housing leasing professionals is to know your resident and understand that one size does not fit all. The industry has strived in recent years to appeal as much as possible to individual preferences, especially in lease processes, while keeping a keen eye on the trends that drive folks to rental[]

real estate investment portfolio

6 Challenges in Tracking Your Real Estate Investment Portfolio

If you’re a real estate asset manager, portfolio manager, limited or general partner, or just about anywhere in the capital stack, you know the pain and complexity of managing a portfolio of real estate properties. Whether you own, manage or just invest, tracking property data is critical to understanding whether your portfolio is performing. Managing[]

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