Legacy pricing & revenue management systems changed the multifamily industry. Now, with almost 25 years of learning, it's time for more contemporary approaches that reduce the total cost of ownership, improve acceptance and are more flexible in adapting to recent and future changes in the multifamily pricing arena.Here are 10 questions you should ask when evaluating pricing & revenue management software. To get our comprehensive PRM ...

Intelligent pricing inputs ensure we're reacting to the right things. After two decades of legacy system use, the industry has learned lessons about what should and should not be part of any contemporary PRM system. For example:1. Comp DataUsers should have the option of whether, and how much, comp data is included in their pricing algorithm. Where they can collect accurate data and, as a matter of corporate strategy, want to include that data th ...

With more pricing & revenue management (PRM) experience than anyone else in the multifamily industry, we have defined what a great contemporary PRM solution would look like that leads not only to a more efficient and more effective PRM strategy but also one that more naturally and intuitively builds trust with operators and asset managers. Massively improved workflows reduce Total Cost of Ownership (TCO)A good PRM should make it easy for reve ...

 Ever since pricing & revenue management systems became "standard" among the NMHC Top 50 (and beyond), the multifamily industry has seen higher occupancies and more stable and predictable rental growth than at any time in the history of rental housing. So, let's start by saying that legacy systems work. Despite this success, there have always been concerns with these systems.Little black boxes…for you and me The leading systems have ...

One of my favorite questions to ask leaders in this industry is one thing their "today" self would like to teach their "then" self when they first got into the industry that they know now but didn't know then. It both sheds light on a key lesson successful executives have learned and provides insight into the industry and its evolution.Many (most?) readers already know that I got into the industry back in 1999-2000 when I had the honor of leading ...

There’s no doubt that multifamily operators and owners are getting more serious about their data and reporting. It’s equally obvious that an industry not traditionally known to be cutting-edge in technology is both 1) catching up and 2) sometimes missing opportunities by aiming a bit too low. Nowhere is that more evident than in the complex world of business intelligence (BI). There are so many different components to a true BI platform, and it’ ...

Last week I was listening to the Walker webcast’s quarterly update with Dr. Peter Linneman. Born of the pandemic lockdown, this series by Willie Walker is “must watch” streaming, particularly whenever Dr. Linneman is the guest (I confess to registering just to get the email link to the recording. I can then watch at double speed thus squeezing an hour-long video into 30 minutes). This last session was particularly provocative and typically insig ...