Six Ways Revenue Management Software Benefits B and C Properties

Revenue management has become fundamental to property management, and many companies are overcoming the perception that it’s only for the big portfolios and those expansive Class A palaces. Class B and C properties are reaping the benefits of the analytical process for determining the right rent for any property in any market phase and at any time of the year. A number of variables that factor in real-time supply and demand, seasonality, expirations, renewals, pricing elasticity and accurate short- and long-term forecasting are mixed into a formula that produces a rent rate. The formula may sound complex but the reality is a simple way for operators to improve asset performance to boost occupancy and revenue. Moderately priced or rent-controlled apartments – whether multifamily, student or Affordable – can outperform whether during lease-up or a renovation, or just for maximizing cash. BH Management: Leveraging revenue management through the entire property life cycle With revenues in excess of $500 million and over 65,000 units under management, BH Management manages A, B and C communities from Arizona to Maryland. VP of Business Intelligence Brandy Daniel frequently encounters the misconception that revenue management is not relevant to certain types of properties, especially C properties, or in certain markets. Sometimes it’s because owners feel there just isn’t enough data to drive the system. “We’ve found this not to be the case at all,” says Daniel. “We’re using it effectively at everything from absolutely beautiful A-plus communities to C value-add communities, in all sorts of markets.” “Because YieldStar is such a robust tool, it can be leveraged throughout the entire property life cycle, from lease up to disposition, to reveal key performance drivers and achieve various ownership goals.” In addition to optimizing rent and occupancy, YieldStar has delivered other benefits t...