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Pricing Optimization & Lease Renewals
Manage episode 448306403 series 2796629
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Pricing units is a very manual, time-consuming process, especially during lease renewals. Leveraging a revenue management tool can help by providing a way to understand the market and pricing optimization.
Greg Warner of Revvy joins the podcast to discuss revenue management and why having a system that can easily optimize pricing is important when trying to quickly make an educated pricing decision, understand property performance in relation to competitors, determine goals, budgeted occupancies, and more.
Using a revenue management tool is also crucial during lease renewals since it can greatly reduce the amount of time spent during the process, and provide guidance on staggering expirations and what premiums should be charged. These actions can balance the process and improve the workload for all team members.
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You can learn more about Greg Warner on LinkedIn, and Revvy on the company’s website.
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