David Martin, Making Realty Dreams a Reality (Fairfax Realty)

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Rainmaker
529,037
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Owners of large multifamily properties would absolutely be regularly analyzing data to maximize profits. Or why be a landlord!

Feb 07, 2018 03:54 AM
Rainmaker
2,522,010
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

No, I do not.  I must confess, I do not fully understand (1) how I would know what apartment complexes do with their business models or (2) why I would care.  What is the basis of this question?  What are you really after here? 

What negatively effects renters?  

Feb 06, 2018 07:49 PM
Ambassador
3,487,593
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I belong to the Apartment Management Association and the major holders use this software to track and keep prices where they need to be for maximum profitablity.

Feb 06, 2018 09:32 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Did not know this, seems to be the model that hotels have used for years.

Feb 06, 2018 09:21 PM
Rainmaker
467,133
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I do not David Martin 

Feb 07, 2018 04:56 AM
Rainmaker
253,034
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

We are in a state that is setting rental controls and making it more difficult for a landlord to evict a tenant. This is not apartment complexes, but rather government run amok.

Feb 06, 2018 08:25 PM
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

The only rentals that I handle are my own personal investments and temporary rentals for those waiting to build or a home to hit the market that fits their criteria. Those are mostly temporary and they don't mind what the monthly expenditure is - typically!

However, if you're in the rental business, yes, this is great information to have, David.

Feb 07, 2018 06:30 AM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I was not aware of this.

Feb 07, 2018 06:12 AM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thanks for sharing your observations.

Feb 07, 2018 05:54 AM
Rainmaker
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Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

My focus in real estate has always been residential so I can't add anything of value to the conversation. 

Feb 07, 2018 05:50 AM
Rainmaker
370,795
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

You can't fault the business for looking for that edge; they treat it like a hotel does, based on vacancy rates... & it's common for your rent to go up at renewal time, especially if the unit's in a desirable area.

Having said that, Renters should go into their initial lease looking to lock in the rate as long as they can. They should also know that Home Ownership would preclude them from this game. 

Feb 07, 2018 05:37 AM
Rainmaker
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Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I pay no attention whatsoever to rental complexes or rentals in general.

Feb 07, 2018 04:22 AM
Ambassador
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Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 No

Feb 06, 2018 08:38 PM
Rainmaker
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Erika Rae Albert, Austin Real Estate Expert
E*Rae Realty- Powered by eXp Realty LLC - Austin, TX
Exceeding Expectations in Every Transaction

I need more clarification on your question too

Feb 06, 2018 08:00 PM
Rainmaker
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Susie Kay
Ultima Real Estate - Plano, TX
North Dallas Specialist

I'm not aware of this.

Feb 07, 2018 09:57 AM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

David,

Yes, I did. A

Feb 07, 2018 07:31 AM
Rainmaker
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Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

Wow, really?  I did not know this.  IF they change their rates this drastically, do they also change all their advertixing daily as well?  I'll keep an eye out in my area and see if this is happening.   interesting. 

Feb 07, 2018 07:19 AM
Rainmaker
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

David Martin Sounds like they took the hint from what the oil companies are doing with gasoline prices. Might be some buyers out there when their lease goes up.

Feb 07, 2018 06:14 AM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

I have not been

Feb 07, 2018 05:51 AM
Rainmaker
2,477,428
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Thr rental market in downtown Chicago is in chaos. The owners want artificial rent rolls and will give away the stars and moon to get it. The advertised price is now the very high end of the range.

Feb 07, 2018 05:47 AM
Rainer
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Byron K . Jones
Keller Williams - Exton - Coatesville, PA
List Today - Sold Tomorrow!

i guess the laws of supply and demand...just like everywhere else

Feb 07, 2018 04:35 AM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

David Martin - interesting!

I do not usually work with tenants. 

Feb 06, 2018 11:32 PM
Rainmaker
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Diana Zaccaro
Veterans Realty of Brevard - NOT just for Veterans! - Cocoa Beach, FL
Your Brevard County, Florida coastal connection!

No, I don't...no reason to in my market.

Feb 06, 2018 10:37 PM
Ambassador
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I had no idea this was done. 
I'm not into property management, and I don't think most apartment complex owners are that sophisticated in my rural area. I guess that's a good thing for the tenants. 

Feb 06, 2018 08:45 PM
Rainmaker
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Andy Brown-Climer School of Real Estate
Climer School of Real Estate - Orlando, FL
The Leader in "Live Streaming" Online Education!

How do you do this?

Feb 07, 2018 08:59 AM
Rainmaker
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Pete Xavier with X Group Real Estate Advocates
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

He who has the gold makes the rules, nothing new here and no need to keep track. I'm a renter myself and love it.

Feb 07, 2018 08:05 AM
Rainmaker
643,758
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Sounds like Uber pricing - based on demand of the moment; smart.

Feb 07, 2018 07:19 AM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Many dynamics at play in property management. A good manager navigates

Feb 07, 2018 06:35 AM
Rainmaker
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Richard Weeks
Dallas, TX
REALTOR®, Broker

No on my watch list.

Feb 07, 2018 05:25 AM
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It is like they are running a hotel changing rates with availability. 

Feb 07, 2018 05:24 AM
Ambassador
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Foir single family it is apples and oranges. 

Feb 07, 2018 05:02 AM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Feb 07, 2018 03:38 AM
Rainmaker
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

used to

Feb 07, 2018 03:30 AM
Rainmaker
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Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

During some buyer markets years ago, I actively sent marketing to tenants, but that is all I have ever done with apartment complexes.

Feb 10, 2018 11:10 AM
Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

I have no idea...how did you find out about that? 

Feb 07, 2018 11:18 PM
Rainmaker
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Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

All the more reason to buy a home

Feb 07, 2018 05:40 PM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I do not.  I don't deal with any leasing at all

Feb 07, 2018 02:41 PM
Rainmaker
625,195
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Dynamic pricing (the same thing UBER does) is a model being entertained by many businesses.

Often entertained in FLORIDA to disguise price gouging when mother nature causes a run on plywood, fuel or survivalist food.

IN regards to applying it to renters....that would be truly a callous and heartless thing to do.  The rent trap becomes a until you die trap.

Most complexes in the area have a 3% escalator in the contract. Yes, conceivably, a new renter with the sign-up bonuses could pay less than the renewal. The parking lots however are remaining full of rent paying residents. The are unable to save so are also unable to escape.

I am a propery rights advocate, but something about this is WRONG.

 

Feb 07, 2018 12:09 PM
Rainmaker
812,233
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Somewhat ... Pay is done on line these days...

Thanks

Feb 07, 2018 10:40 AM
Rainmaker
492,035
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

There are major national players in the apartment ownership/management/investment business. It should be no surprise that they employ sophisticated systems to manage their business and maximize their returns.

Feb 07, 2018 09:58 AM
Rainmaker
1,005,622
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'm glad I'm catching this after the update!  I did not know this, but it does not surprise me.  If I ever buy one of these properties, I'll be storing this in my memory banks!

 

I can see how this could be useful to market to renters to become buyers.

Feb 07, 2018 08:51 AM
Rainmaker
4,070,253
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

I stay as far away from rentals as possible....there's better business out there...

Feb 07, 2018 08:38 AM