Episode sponsored by: Updater
Updater is an app that gets residents move-in ready faster. Did you know that residents who are happy with their move-in experience are 59% more likely to renew their lease? Move-ins matter. Get them right with Updater. Visit go.updater.com/mike Updater is offering a special gift for our listeners when you book a demo. The short demo may be the key to improving your customer experience while freeing up time for your front-line teams.
In this episode of Collective Conversations, Mike Brewer is joined by returning guest Dom Beveridge, Multifamily Proptech Expert, Publisher, and Principal of 20 for 20. Dom partnered with Donald Davidoff and Jeffrey Roper to create a White Paper on the topic of multifamily revenue management. Their work is an answer to a fundamental misunderstanding of how revenue management systems work as published in a ProPublica article in 2022.
Key Discussion Points:
- Multifamily operators are being compared to Cartel-like price-setting practices. Due to pending class action lawsuits, multifamily operators cannot defend their revenue management practices publicly.
- The accusations are untrue and not possible and reveal a clear lack of understanding of the practice of revenue management.
- There are significant barriers to the practice of multifamily operators and owners acting as a unified group to manipulate supply to increase revenue. >The owner and operational market is extremely fragmented.
>Industry Structures
>Occupancy and Risk
>Ownership objectives vary widely by property.
>Each property’s unique proforma is tied to its capital structure and demands.
>It is impossible for all owners and managers in a market to act in lockstep with respect to pricing strategies.
Mike and Dom dive into the various notes around revenue management in the multifamily industry, a practice that has existed for two decades. If you want to understand this hot topic better, tune in to this compelling episode of Collective Conversations.
Whether you’re a seasoned investor, property manager, vendor/supplier, or someone interested in learning more about the multifamily market, this series offers valuable insights that can help you navigate the challenges and seize the opportunities in this dynamic industry.
About Dom Beveridge – Dom has been a leader in consultancy, technology, and marketing for more than 25 years. He created 20 for 20 – the multifamily industry’s leading survey of operations and technology.
About Mike Brewer – Mike is enthusiastic about people, technology, and the multifamily industry. He serves as President of RADCO Residential and COO of The RADCO Companies. As the Founder of Multifamily Collective, Mike is passionate about sharing insights and wisdom through this series of Collective Conversations with others in this industry. This podcast is a platform for industry professionals to connect, learn, and grow together.
We would love your feedback, questions, and topic suggestions for future episodes. Feel free to reach out to us via info@multifamilycollective.com or connect with us on LinkedIn, YouTube, and Facebook. Our podcasts and interviews are also available on Apple Podcasts, Spotify, or anywhere you stream your podcasts.
Subscribe and Share:
If you enjoyed this episode, rate, review, and subscribe to our podcast on [Podcast Platform(s)] and share it with your friends and colleagues.
If you or someone you recommend is interested in learning more about sponsorship opportunities, please contact us.
Please subscribe to our newsletter – The Collective Rundown
Thank you for tuning in and stay tuned for more exciting episodes coming soon!
Disclaimer:
The views and opinions expressed in this podcast are solely those of the individuals involved and do not necessarily reflect the official policy or position of Multifamily Collective or any other organization mentioned during the episode. The podcast is for informational purposes only and should not be considered professional or legal advice. Always consult a qualified professional or your organizational leadership before making strategic, professional, financial, or investment decisions.