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.

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[]

 

What is Portfolio Asset Management for Real Estate?

Real estate asset and investment firms deal with tons of incoming data every day, in regard to their assets. That information must be collected, consolidated, and analyzed. Then, reports must be created and shared throughout the organization. It’s an arduous process. And without the right tools, it can also be error-prone frustrating and expensive. That’s[]

 

What is Real Estate Enterprise Accounting?

In a real estate business climate where products cover every niche available, one area has been surprisingly lacking:  accounting for real estate investment companies. Products that perform exceptionally and truly cater to this segment are in short supply, especially in the mid-market range. Real estate enterprise accounting helps private equity real estate firms, Limited Partners[]

 

How a Contact Center can Create Golden Opportunities

Like many days in the front office, this one is hectic. The phone rings as a leasing representative checks the package delivery log-in for a waiting resident. The phone keeps ringing. A maintenance tech distracts the representative and asks about the paperwork for a service call in Building C. “It’s on the clipboard,” she says[]

The dangers of not vetting your vendors
 

The Dangers of Not Vetting your Vendors

Wacky incidents involving contractors damaging apartments during construction or renovations may seem hard to imagine. But serious damage and liability can result from those sometimes seemingly comical bumps, oopsies, and drops. Just listen to these doozies, all true stories shared by Compliance Depot: A cement truck enters an apartment community drive for a concrete pour[]

Spend Management Multifamily
 

Properties can Add PEPP to their Step and Save through Spend Management

How effective are your spend management practices? Not many property managers or owners would turn down an opportunity to save $10,000, or they’d at least take a good look at how to do so. That’s what RealPage says is possible, when using the right spend management solutions. Based on a 200-unit apartment, a comprehensive spend[]

Apartment Pricing Multifamily
 

Predictive Analysis is Now Leading the Evolution of Apartment Pricing

The modern age of the apartment industry is looking a little like America’s favorite pastime. New advances in revenue management, driven by data science remind many of the sabermetrics now prevalent in baseball. You may recall the story in 2002 of how Oakland A’s general manager Billy Beane, facing a low budget and the loss[]

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