revenue management
Dom Beveridge | Collective Conversations
Episode sponsored by: Updater
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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.
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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.
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Multifamily Revenue – Update
I posted about this last night not realizing that a full blown press release would be coming out today. I offer up my apologies to Steve and his group over at multifamilyrevenue.com as I know it was not my place to to deliver this information prior to his press release coming out. The power of the internet is to invasive sometimes.
I do look forward to what the multifamilyrevenue team have to offer. As for what I have seen so far, it is very well done. I have attached the official press release for your review.
MultifamilyRevenue.com Website Delivers Clear Evidence that Revenue Management Software Boosts Apartment Net Operating Income
Website is free source for reliable revenue management information to drive higher profitability for multifamily operators
San Francisco, CA (PRWEB) December 4, 2008 — Multifamily housing veteran Steve Lefkovits announced the launch of MultifamilyRevenue.com, a Joshua Tree Internet Media, LLC website, to provide multifamily housing operators with objective, trustworthy information on how to increase revenue and optimize and stabilize lease/rent pricing through the adoption of multifamily revenue
management technology. Until now there has been a shortage of credible,
objective information on how revenue management systems work in the
multifamily industry.
The site presents documented case studies, video presentations and
independent third-party commentary on multifamily revenue management
implementations; it also documents high-level findings describing
revenue increases from 2.5 to 4.5 percent by revenue management
software users. The site also lists 30 well-known apartment companies
that use revenue management systems, including three of the top ten
largest multifamily owner and management companies.
We launched MultifamilyRevenue.com to help operators improve their revenue and have greater visibility into market conditions and how they affect lease/rent pricing |
Our new site provides case studies and video interviews with industry professionals to de-mystify how revenue management systems are successfully working in the industry |
The site’s founder, Steve Lefkovits, is a respected multifamily
industry professional who served as vice president of the National
Multi Housing Council and as senior vice president for BRE Properties.
Lefkovits was also the creator of the National Multi Housing Council’s
Technology Forum conferences.
Revenue management information to optimize lease/rents
“We launched MultifamilyRevenue.com to help operators improve their
revenue and have greater visibility into market conditions and how they
affect lease/rent pricing,” explained Lefkovits. “The industry now has
a source of solid information on revenue management. Our goal is to
provide operators of all types with free actionable business
information that enables them to make informed apartment revenue management systems decisions that improve their company and the industry as a whole.”
The new site also includes third-party Wall Street validations that
revenue management systems add economic value to a company. Currently
featured on the site is a report from BMO Capital Markets’ Rich
Anderson on his evaluation of the leading revenue management systems
for the multifamily industry.
MultifamilyRevenue.com provides information on:
- Financial benefits of revenue management to multifamily operators
- Implementation case studies from respected companies
- Rosters of multifamily revenue management system users and providers
Lefkovits noted there is a lack of information in the multifamily
industry surrounding how revenue management software is used, how it
benefits operators, and the scope of its adoption. “Our new site
provides case studies and video interviews with industry professionals
to de-mystify how revenue management systems are successfully working
in the industry,” said Lefkovits. The site also lists the names of
companies using revenue management systems and provides lease/rent lift
results based on actual pilot studies from a wide variety of
multifamily markets.
Revenue Management – In Depth Analysis at AIM 2009 Conference
Revenue Management case studies from MultifamilyRevenue.com will be
explored at the 2009 Apartment Internet Marketing (AIM) Conference. In
its fourth year, the AIM Conference series is the premier multifamily
conference on Internet marketing and online transactions. The AIM 2009
conference will be held from April 29 – May 1 in Denver. For more
information and register online, visit http://aimconf.com.
About MultifamilyRevenue.com
MultifamilyRevenue.com is the apartment industry’s definitive online
resource for business information about revenue management and
optimization best practices and welcomes the participation and
contributions of experts in the field. If you would like to contribute
articles, corrections, additions or other pertinent information that
helps to further the industry’s understanding of revenue management,
please contact us. MultifamilyRevenue.com and the Apartment Internet
Marketing Conference is owned and operated by Joshua Tree Internet
Media, LLC.
Contact:
MultifamilyRevenue.com
Steve Lefkovits
Executive Producer
5834 Vallejo Street
Emeryville, CA 94608
(510) 444-2988
Email: steve(at)jtimedia.com
Media Contact:
Julie Keyser-Squires, APR
Softscribe Inc.
180 River Springs Drive NW
Atlanta, GA 30328
Phone: (404)256-5512
Email: Julie(at)softscribeinc.com
multifamilyrevenue.com, revenue management, yield management, IRO
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Multifamily Revenue Management
Mike Brewer · · 1 Comment
Interesting site I ran across this evening, multifamilyrevenuemanagement.com
I will say having worked for Equity Residential for nearly ten years and having experienced the roll out of a revenue management system, it does work. Big time! I did, however, have the unique experience of building my very own revenue management system that outperformed the big ticket model. That was short lived and not well publicized by our pricing analyst. That aside, the site above offers some good video sound bites along with some other good content. Check it out if you have a few extra minutes.
multifamilyrevenuemanagement.com, revenue management, multifamily