14-month lease: $3,800
12-month lease: $5,000
This is a price differential I found when apartment shopping recently.
That’s a 33% increase from the low!
This is confusing for me and I would assume the average renter really doesn’t understand the dynamics at play here, so these differences must be frustrating.
I understand nudging renters into the “best” months to rent, but isn’t this a little drastic?
I can say with certainty that I know this market well and the seasonality difference at play here is negligible, if not worse.
I find these work better in an up market, but those deviations grow substantially in market fluctuations.
Do you trust your “revenue management”, aka pricing engine?
How much insight do you have into those algorithms today?
Do you think we should all understand these settings better?
I certainly do.
I think it’s time renters have a Kayak level insight into rent prices.
Who’s with me?
#Multifamily #PropertyManagement #RevenueMamagement
🚘 𝘋𝘳𝘪𝘷𝘪𝘯𝘨 𝘵𝘩𝘦 𝘍𝘶𝘵𝘶𝘳𝘦 𝘰𝘧 𝘔𝘰𝘣𝘪𝘭𝘪𝘵𝘺 🤝 𝘌𝘮𝘱𝘰𝘸𝘦𝘳𝘪𝘯𝘨 𝘊𝘰𝘭𝘭𝘢𝘣𝘰𝘳𝘢𝘵𝘪𝘰𝘯 ⭐️ 𝘉𝘳𝘢𝘯𝘥 𝘈𝘮𝘣𝘢𝘴𝘴𝘢𝘥𝘰𝘳 🚀 𝘍𝘶𝘦𝘭𝘪𝘯𝘨 𝘐𝘯𝘯𝘰𝘷𝘢𝘵𝘪𝘰𝘯 𝘸𝘪𝘵𝘩 𝘛𝘦𝘤𝘩𝘯𝘰𝘭𝘰𝘨𝘺
8moGreat will see you guys soon in Madrid 😉