This is the last in a 9-part series of “quick hit” blogs on the quickest way to uncover hidden revenue from leasing based on the presentation Bryan Pierce, Carol Enoch and Donald Davidoff gave at NAA’s 2024 Apartmentalize conference. Up until now, this blog series has focused on a variety of different amenity “fails” that arise essentially from configuration issues, whether accidental or intentional. The key is to be able to look ...

This is the eighth in a 9-part series of “quick hit” blogs on the quickest way to uncover hidden revenue from leasing based on the presentation Bryan Pierce, Carol Enoch and Donald Davidoff gave at NAA’s 2024 Apartmentalize conference. For our penultimate (yes, I love that word) amenity fail, we turn to floorplan offsets (also called square footage adjustments) that are too high or too low. In our experience, this single fail rep ...

This is the fourth in a 9-part series of “quick hit” blogs on the quickest way to uncover hidden revenue from leasing based on the presentation Bryan Pierce, Carol Enoch and Donald Davidoff gave at NAA’s 2024 Apartmentalize conference. Into the home stretch of this series, let’s talk about the misuse of $0 amenities. We talked in an earlier blog about using $0 amenities when all the units in a pricing group have the same amenity, ...

This is the fourth in a 9-part series of “quick hit” blogs on the quickest way to uncover hidden revenue from leasing based on the presentation Bryan Pierce, Carol Enoch and Donald Davidoff gave at NAA’s 2024 Apartmentalize conference. Our turn to “fail” #6 is perhaps the most pernicious of all the ones we see because this one is usually at best a complete misunderstanding of how amenity pricing should work; and, at worst, it’s i ...

This is the fourth in a 9-part series of “quick hit” blogs on the quickest way to uncover hidden revenue from leasing based on the presentation Bryan Pierce, Carol Enoch and Donald Davidoff gave at NAA’s 2024 Apartmentalize conference. Our fifth example of where amenity pricing frequently goes wrong is another example born of the right effort from operators and asset managers and just a slight flaw in execution. Fail #5: All Ame ...

This is the fourth in a 9-part series of “quick hit” blogs on the quickest way to uncover hidden revenue from leasing based on the presentation Bryan Pierce, Carol Enoch and Donald Davidoff gave at NAA’s 2024 Apartmentalize conference. The good news is that our fourth “amenity fail,” overbundling, comes from a place of proactive efforts from operators to get amenity pricing right. The challenge, though, is that it’s still a “fail ...

This is the third in a 9-part series of “quick hit” blogs on the quickest way to uncover hidden revenue from leasing based on the presentation Bryan Pierce, Carol Enoch and Donald Davidoff gave at NAA’s 2024 Apartmentalize conference. If it weren’t for the significant loss of revenue, and thus value, our third “amenity fail” would be truly humorous. This is conflicting amenities. Fail #3: Conflicting Amenities The most impactfu ...

This is the second in a 9-part series of “quick hit” blogs on the quickest way to uncover hidden revenue from leasing based on the presentation Bryan Pierce, Carol Enoch and Donald Davidoff gave at NAA’s 2024 Apartmentalize conference. Last blog, we discussed amenity “holes.” Today, we’ll cover the second in our series of “amenity fails”—missing amenities. Another common mistake we see are missing amenities—either simply some un ...

First in a 9-part series of “quick hit” blogs on the quickest way to uncover hidden revenue from leasing based on the presentation Bryan Pierce, Carol Enoch and Donald Davidoff gave at NAA’s 2024 Apartmentalize conference. In a year with at best anemic rent growth in most markets, operators are under tremendous pressure to find/save every possible dollar. They pay close attention to growing labor costs, implement “back to basics” ...

Given both my history as the leader of the team that built LRO® and the company that has built REBA RentTM, I’ve obviously been watching (and commenting on) the evolution of the legal and legislative environment w.r.t. pricing and revenue management (PRM) software in the rental housing industry (often referred to as “algorithmic pricing” to make the software sound scarier). In past blogs and white papers, I’ve commented on both ho ...

So it happened: https://www.kron4.com/news/bay-area/san-francisco-becomes-first-u-s-city-to-ban-automated-rent-fixing-technology/ The first “ban” on pricing and revenue management (PRM) software or “algorithmic pricing” in rental housing has passed. And make no mistake, this is just the first domino. With the American Economic Liberties Project behind this and the general tenor of the political environment given persistent rent i ...

In my last blog, I commented on how our industry regularly falls prey to the “scratch an itch” approach of buying point solutions rather than making decisions about where their company wanted to be with their tech stack in 3-5 years. That got me thinking about how, if I was a Chief Information or Chief Technology Officer for an operator or owner, I would go about making decisions differently. How would I expect systems to connect and wha ...

Almost a year ago, we embarked on a set of interviews and studies to “bring to life” how business intelligence (BI) drives enhanced performance in multifamily housing operations and asset management. For many years now, I have observed how hard it is for CEOs and COOs who have never had good BI to understand how the apparent “soft” return of “better decisions, faster” can justify the “hard” costs (i.e. writing a check) to pay for a BI plat ...

Over the years, one of the most frequent complaints I hear from CIO/CTOs, COOs and CEOs is how the proliferation of proptech in the rental housing space often creates a rat’s nest of disparate tech solutions that rarely, if ever, integrate in a way that creates an easily manageable data ecosystem. For many years, I truly empathized with this challenge as I felt their pain and wished that vendors would do a better job at making lives e ...

While it’s almost become a meme to comment on how “backward” the multifamily housing industry is when it comes to technology, the reality is much more nuanced now than it was back in 1999 when I first started leading the work that eventually resulted in LRO, the industry’s first-ever automated rent setting application. I was blessed to work with perhaps the most technology-forward operator of the time. Archstone was the first major ...