Five Revenue Management Strategies to Achieve Investment Goals

When it comes to revenue management, many question how to use it and whether it can really work for their assets and strategy. Contrary to common belief, revenue management is not about revenue maximization – it’s about optimizing revenue and achieving your investment goals, for any property type. RealPage Senior Vice President of Revenue Management Amy Dreyfuss and RealPage Head of Data Science Rich Hughes will host a five-part monthly series of webcasts beginning in May. The series will dive deeper into revenue management and focus on specific asset strategies to manage the highs and lows of occupancy and the ups and downs of demand. “It’s definitely not a one size fits all world,” says Dreyfuss. Moving beyond a ‘gut feeling’ when setting rent prices The series will explain why instinct in pricing rents isn’t always the best approach. A data-driven strategy that considers supply, demand, market demographics, lease term and other factors is essential. There are many facets of revenue management that offer unmatched benefits throughout the rent cycle. Register for this webcast series to learn how RealPage Revenue Management can help you outperform for any asset class in any market regardless of your asset strategy. Dreyfuss says the beauty of asset optimization tools is their objectivity and accuracy. “Business acumen is great, and it’s important, but what even a savvy manager might conclude at first glance isn’t always what the numbers show to be the best decision,” she says. “Pricing rents is a great example. Sometimes, the asking price that will drive optimal bottom-line revenue for a property isn’t what your gut feel would tell you.” And only a computer algorithm can crunch market factors, inventory, current and future occupancy forecasts, seasonal leasing history and pricing strategies to arrive at the perfect rate. The series, which is designed for owners and ope...