When a renter asks about a particularly popular floorplan, the chances of them receiving a higher rental rate increase due to the technology built to help landlords generate more revenue. Alternatively, if the renter inquires about what floorplans the complex has available without being specific on what exactly they’re looking for, the rent price then decreases. A New York Times article points out that technology, such as the yield management software, can help residents as well. “Just as travelers can lower their airline fare by flying at off times, residents can often lock in lower monthly rents by agreeing to lease terms that help apartment owners avoid downtime or fill less popular units.” With this being said, Marcus Hiles notes that renters should be signing leases during an off-season such as late fall or early winter.
Marcus D. Hiles, Real Estate