A well-managed property
should set prices more strategically than competitors.
Price units appropriately and keep up with the competition. Corporate and on-site teams must be knowledgeable of pricing trends and changes course as needed. Programs like LRO, Rentpush, and Yieldshare are very successful in automating and managing revenue management initiatives.
That's actually true with what you say in first paragraph of the on-site teams being able to be knowledgeable about the pricing trends in your specific area. I know that location is immensely important with renting out for tenants. I'm going to see what property management can do for me with my townhouse. It's too much of a hassle for me to manage that myself right now. These were fantastic ideas to keep in mind by the way!
ReplyDeletehttp://www.priorityoneproperties.com