Typically, economic occupancy is 2% to 5% lower due to discounts and concessions.
Concessions should be targeted to increase income by discounting specific unit types that have low occupancy levels.
Of very high importance we document all of our collection efforts.
The power to predict consumer behavior is the linchpin for successful revenue management.
Smartphone retail sales are expected to grow 37% from 2018 to 2019, an increase of over $55 billion dollars.
The biggest expense impacting facility value is real estate taxes. Nationwide, product can range from $30-$400/SF.
Be consistent and predictable in my follow up, and people will strive to meet the expectations.
One study found that U.S. companies actually lose $75 billion a year because of poor customer service.
This is the one number you must know and most operators have no clue.
Over the past decade, we have seen a massive shift in attention to a new set of numbers; saturation level.