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...
Monday, January 24, 2011
National studies have shown that the average tenure for a resident is nine months or less—a scary statistic when it costs an average of five times more to turnover an apartment than it does to keep an existing resident.
Multiply the cost to turn an apartment by the number of apartments in your community—then multiple that by 60 percent, the national average for resident turnover (according to...
Thursday, January 20, 2011
I am sure we are all blown away by how some businesses operate. I scratch my head…it’s clear not everyone is really trying to take care of clients, create positive experiences, or improve performance. Here are several of my experiences.
The crepe joint: Penny wise, pound (or franc) foolish.
There’s a great crepe joint near work. As the economy soured, I noticed changes. They stopped...