How Fogelman is Sustaining Growth and Strengthening its Position in Multifamily Markets

It’s one thing to grow market share, but another to sustain it. Economic booms may put a property on the map because it’s in the right place at the right time. But as markets change, the true mettle of a property management team unfolds. Apartment industry leaders understand that one of the greatest challenges in property management and investment is negotiating market ebb and flow. Sophisticated revenue management tools that feed off enormous sets of transaction data offer steadiness when markets are healthy or have the hiccups. Effective revenue management practices have taken the guesswork out of meeting and sustaining achievable rent growth and occupancy, which drive successful investment in any market, anytime.  Protecting against higher availability and lower occupancy At Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, changing markets are a call to action. While an economic dip may be worrisome, the fully integrated property management and investment company based in Memphis, Tenn., always has a plan. This has played a key role in sustaining the company’s long-term growth. “Our biggest revenue management challenge is not just maximizing effective rents during busy leasing times but protecting against higher availability and lower occupancy when slowdowns occur,” Fogelman Chief Operating Officer Justin Marshall says. “We intend to outperform the market, even during soft market conditions, by continuing our culture of detailed, hands on management, accountability to performance and results, and support to the properties from our internal support services team.” YieldStar, RealPage’s revenue management software solution, has helped Fogelman overcome the challenges of finding a balance by projecting future demand and pricing accordingly, he added. Image via Fogelman Leveraging the best tools to driv...