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An interview with Scott Villani, head of marketing and revenue management for Forest City’s multifamily portfolio

The buzz about revenue management was on the streets a few years before Forest City Residential began to look at it seriously. “We knew this was something we needed to be a part of,” says Scott Villani, the company’s Director of Marketing and Revenue Management. “The topic was being discussed increasingly in the industry, and our competitors were already part of the conversation.”

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Today, some multifamily managers are outsourcing revenue management rather than handling it internally.

A novelty just a few years ago, revenue management is becoming mainstream in the multifamily industry. Where scientific price-setting was once the domain of airlines, rental car companies, and hotels, it’s proven to be just as valuable for multifamily, delivering two to five percent revenue outperformance for its users on a sustained basis. By leveraging all the right variables, such as current exposure, projected expirations, renewal conversion trends, seasonal demand behavior, recent leasing velocity, effective rents achieved, competitive positioning, and more, revenue management recommends an ideal price for every new lease and renewal every day.

Multifamily owner Abacus achieves consistency and results using revenue management with YieldStar.

New York-based Abacus Capital Group, LLC invests in promising deals around the country, and uses various fee managers based on their local market knowledge and capabilities.

How multifamily redeveloper Berkshire uses revenue management to help determine pricing of renovated units, and more.

“We’re primarily in the business of creating value for our owners and investors,” says Dean Holmes, a divisional vice president with the Berkshire Property Advisors. “We redevelop and reposition multifamily properties all over the U.S.”

A regional manager gets hands-on experience with income-boosting revenue management technology.

Angie Taylor didn’t expect to be on the front line for her company’s venture into revenue management. But when one of her property managers took an unexpected leave of absence, that’s exactly where she found herself.

In times like these, "build and sell" can become "build and hold." Trammell Crow Residential has turned to revenue management to maximize revenue from the properties they’re holding.

These days, Trammell Crow Residential finds itself holding onto more properties than usual, waiting out a market that has virtually suspended all transaction activity. This means increased attention is placed on their income stream.

Leading multifamily REIT experiences 2.1% revenue premium with Price Optimizer

"We embarked upon revenue management at an exciting time," says Chris Long, Director of Pricing and Revenue Management at Colorado-based UDR, Inc. "Our company was searching for ways to use technology to impact our bottom line, and revenue management was seen as low-hanging fruit that we could implement quickly."