22 Voices for 2022: How Revenue Management Can Solve Loss-to-Lease, Rent Control & Rising Costs
While overall multifamily conditions remain incredibly strong, some big challenges still loom over asset managers and property managers ― including loss-to-lease, rent control threats, and inflationary expense pressures.
Top apartment operators who are fine-tuning their revenue strategies to solve for 2022’s top challenges know that revenue management today is about much more than simply “maximizing” price.
Hear from a panel of industry leaders as they share their strategies for using revenue management to optimize NOI in 2022, hosted by RealPage experts Jay Parsons and Andrew Bowen in a discussion of timely topics including:
- How to solve for loss-to-lease without triggering massive turnover
- Why revenue management works so effectively in rent-controlled markets and is indispensable in cities adopting new price controls
- How to link pricing and demand trends with marketing and leasing operations to reduce costs and enhance lead conversion
- How long will rents continue to climb briskly, and how to stay ahead – not just follow the market
Courtney Duffy Schnee is an accomplished real estate professional whose professional background in both residential and commercial property management, along with development and operational experience in both new construction and historic tax credit projects, gives her a holistic perspective on asset management. Since joining Northwood Ravin in 2015, she has brought 13 assets and 4,600 units to stabilization, and she currently oversees a total portfolio of 23 assets for ~8,000 units ― with an additional 4 assets and 1,260 units under construction to deliver in 2022.
In her current role as Senior Vice President and Asset Manager, her focus is assuring an effective deployment of Northwood Ravin’s financial and human capital as they impact the financial performance at both the asset and portfolio levels. In 2021, she completed 15 refinances for $1B+ in loan proceeds.
Courtney blends her operational experience and passion for developing team members’ analytical, financial, management and leadership skills. She was named to the Women We Admire 2021 “Top 100 Women in Real Estate,” recognizing accomplishments of women across all sectors of real estate.
Breanna BerrySenior Asset Manager, Prometheus Real Estate Group
Breanna Berry is a Senior Asset Manager at Prometheus Real Estate Group, responsible for the performance of a significant portion of their portfolio, which is located throughout the Bay Area, Portland and Seattle submarkets. She has been working as part of the Asset Management team at Prometheus since June 2017, leading initiatives around revenue management and performance benchmarking. Before joining Prometheus, Breanna spent a few years at Redhill Realty Investors in asset management and led efforts on investor reporting. She entered the Real Estate Industry after leaving HelmetHub, a startup she cofounded during the final semester of her undergraduate degree. Breanna is an alumnus of Massachusetts Institute of Technology.
Jay ParsonsVP, Head of Economics & Industry Principals, RealPage, Inc.
Jay Parsons serves as VP, Head of Economics & Industry Principals for RealPage. He is a frequent author and speaker on topics including rental housing investment and asset management strategy, rental housing policy issues, risk management and property management – covering apartments and single-family rentals. Jay has been cited in the Wall Street Journal, Bloomberg and CNBC, among other outlets. His commentaries have been published by the Pension Real Estate Association, the Mortgage Bankers Association, the National Apartment Association, American Banker and GlobeSt.
Andrew BowenVide President, Market Strategy, RealPage, Inc.
Andrew Bowen serves as a Vice President of Market Strategy for Real Page in both the Ownership and Single Family Rental markets. For over a decade, his focus has been on the tools that help investors and operators of multifamily real estate drive yield through better leveraging data and analytics. Considered one of the experts on revenue management in multifamily, he is a regularly featured speaker on both the webcast and conference circuit brining a passion backed by twenty years of operational experience to the conversation.
Andrew holds a Bachelor of Science in Aquatic Biology from the University of California at Santa Barbara. When not pontificating on the future of the industry, you can usually find him either in the gym or on the lake with his two grown “boys” and his wife of 25 years.