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Published on: 11/5/2005
Last Visited: 9/3/2008
A good example is David S. Santee, executive vice president of property operations for Equity Residential, who said his company is coping with a changing market by keeping a level head."We are right on track with where we were last year with occupancy and 'left to lease.' Even our down markets were not as 'down' in the second quarter this year as those of our competitors."Equity is the largest publicly traded owner, operator and developer of multifamily housing in the United States, with nearly 160,000 apartment units nationwide.
Equity implemented The Rainmaker Group's revolution LRO™ revenue management system in 2006.Santee said the system helps:• Control inflection points within the business cycle• Avoid rate-dropping and other knee-jerk reactions to market changes• Support decisions based on facts and data, not emotion• Create a customized process and discipline for price-setting
Drew Taylor, executive vice president of asset management for Mid-America Apartment Communities, agrees with Santee that the discipline provided by revenue management technology is a key factor in helping the company maximize revenues-regardless of economic conditions.