Writing ยท Pricing / Revenue Management
๐ฎ๐ฌ ๐จ๐ป๐ถ๐๐ ๐๐ฒ๐ฎ๐๐ฒ๐ฑ. ๐ข๐ป๐ฒ ๐๐ป๐ฐ๐ฒ๐ป๐๐ถ๐๐ฒ ๐๐ต๐ฎ๐ป๐ด๐ฒ.
My leasing team said no one wants the upstairs units.
500 units in Texas. The team kept complaining. Can't lease the second floor. People won't walk up stairs.
So I took the regional manager and the manager to lunch. While they were gone, I told the leasing staff: triple the commission on any upstairs unit. $500 bonus to whoever leases the most.
They leased 20 of them.
The units weren't the problem. The incentive was.
I shared stories like this with Louis Fernandes on The AI Edge Podcast. We covered 30 years of deals, failures, and operating scars in one conversation.
Here are some of the topics we discussed.
* You can't fix a bad market with operations. But you can make it less painful.
* The hidden concession across the street that killed our leasing velocity (and how we found it)
*Why, I have three layers of contingency on every renovation scope
* The $5,000/month in phantom electric nobody noticed for years. It was sitting right there in the financials.
*What AI can actually do today vs. where it still falls apart.
Louis doesn't do softball interviews. He asks great questions because he understands the business.
If you manage or own apartments, it's worth the listen.
https://lnkd.in/eXNGetSA