Revenue management in soft or down markets
In early 2024, new developments in the Southwest drove rents down and made occupancy harder to sustain, with many properties relying on heavy concessions to compete.
A portfolio in the Southwest countered with a disciplined revenue management strategy—prioritizing occupancy, limiting concessions, and adapting quickly to market changes to protect rental income.
Discover our full strategy in the case study and learn about how to maintain stable occupancy, minimize rent erosion, and achieve measurable outperformance compared to the market.
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The highlights
- Effective Revenue contracted 0.1%, a 1.8% outperformance compared to the submarket that saw 1.9% contraction in effective revenue.
- Occupancy held steady at 92.1%, closely matching the submarket average of 92.3%./li>
- Renewal Conversion averaged 52.7%, outperforming submarket average retention by 3.6%.