Monday, February 28, 2011
Two years ago, my friends and I had the pleasure of renting a house in Ireland from a 20-something ex-rugby player named Ted.
At the risk of sounding like 1950’s teenager, Ted was dreamy. His accent was to-die-for, he had shoulders as broad as a Buick, and his teeth were both white and straight—a real rarity in the U.K.
One day Ted came over to mow our lawn. After watching him—and more...
Thursday, February 17, 2011
I moved to Ireland less than a month after my college graduation, without a job or a place to live. Why this concerned my parents, I’ll never understand.
After desperately searching the classifieds for two weeks, my friend and I saw an ad for a job selling sandwiches with “The Tasty Sandwich Guy.” That’s not at all sketchy.
When we arrived at the local aquarium two days later for our joint...
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...