RealPage Exec: Software Boosts Rental Rates & Profit

M/PF YieldStar Price Optimizer, a product of Carrollton, TX-based RealPage Inc., is an on-demand tool designed to optimize rental revenue for conventional, lease-up and student living. The software uses market response and forecasting models to make daily rent recommendations and provide detailed and summary decision support reports. GlobeSt.com asked Janine Steiner Jovanovic, president of M/PF YieldStar how the product benefits multifamily owners and managers in a down market. Here’s the second of a two-part interview:

GlobeSt.com: What type of metrics does the tool leverage to identify changing market dynamics?

Jovanovic: The most critical components to pricing with Price Optimizer are the internal supply and demand situation, recent leasing velocity, recently achieved effective rental rates, and current market dynamics. In a declining market, there is a propensity for operators to overreact to competitive pricing adjustments. By placing more weight on the internal dynamics of each property and then looking to the broader marketplace for trended changes in comparable property rates, Price Optimizer provides an excellent balance for pricing.