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“We must also prioritize the creation of a memorable
put in.”
SAN GABRIEL For: Happy Junk Removal Issue: RSVP SGV Continued from page CS-27
Wave Goodbye to
While the industry made tremendous strides with AI Operating Officer for Bell Partners, says that one and virtual leasing during the past 18 months, there established tool—revenue management—has been
J NK&CL TTER
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is still more ground to cover. “It is very important to up to the task. “It still has to be managed and you
personalize our online experiences by marrying the still have to have conversations, but I do think the
high-tech and high-touch dynamic,” says Tina West, tools are working,” Clare says. “But I also think part
Senior Managing Director for Cushman & Wakefield. of that is the parameters that you, as the operator,
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touchpoint, top-of-mind awareness for prospects
Early in the cycle, Bell pulled back on its revenue management inputs and put in higher occupancies. “We decided that we needed higher occupancy versus higher rent, just because of where we were in the pandemic,” Clare says. “Then, as we
and residents, engagement without face-to-face
15%
interaction, and a means for becoming the first and
consistently the last interaction a customer has with
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our brand and our properties.”
Happy Junk
Greg West, CEO of ZOM Living says that it is started to come out of the pandemic, we adjusted
important to introduce a property both virtually and in those parameters.” Clare says that the revenue
person. “Our staff has to meet this demand through social media and community engagement,” he says. “One’s ranking on a search engine is certainly relevant, but increasingly relevant is reaching your customer in a more personal way.”
REVENUE MANAGEMENT STRATEGIES
Virtual leasing and AI weren’t the only tools that leasing agents have relied on during the pandemic. While there have been some dramatic shifts in the market over the past 18 months, Cindy Clare, Chief
management levers pulled help determine outcomes. “Are you looking for maximizing revenue or are you
Removal
looking to maximize occupancy?” she says. “Are
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you looking to balance the two? All of those things
make a difference in how your revenue management
system operates and how it acts in cycles like this.”
Les Shaver is a freelance writer for the National Apartment Association. This article is being reprinted with permission from the National Apartment Association and was first published by Units Magazine.
APARTMENT MANAGEMENT MAGAZINE - JANUARY 2022
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