Wednesday, February 16, 2011
I attended a standing-room only Resident Retention Round Table recently, and was shocked to hear the panelists basically say that no matter what you do as a resident retention strategy, your turnover will remain about the same. (Which is exactly opposite of what our research has shown!) The retention strategies discussed seemed to revolve around pricing and creating a sense of community. Once...
Tuesday, February 15, 2011
I read an intriguing point in an online discussion about revenue management: “Turn cost is a factor, but it is also a sunk cost unless you wish to favor renewals over new leases.” Ah, “unless” you favor protecting your existing revenue stream! This is a huge issue…leasing/marketing vs. retention. Which should be the priority? Loss minimization vs. revenue/cash flow maximization. Filling empty...
Friday, February 11, 2011
So, I have this “friend” and she’s on an online dating site.
After pondering which service would best suit her needs, “my friend” remembered reading an article that said it’s OK to feel desperate—you just can’t act like it. So for her, that meant joining something that was free. Paying for a boyfriend just seemed wrong, and something she certainly wasn’t willing to consider until at least the...
Tuesday, February 8, 2011
This morning, I made the short walk from NAA Headquarters, in near-frigid Washington DC weather, to the Chick-fil-A at Ballston Mall so I could stand in line for my free Spicy Chicken Biscuit. Word had spread through our office yesterday that our local and cherished Chick-fil-A would be giving away a free breakfast sandwich every day this week.
I developed a nice addiction to Chick-fil-A in...