Dom Beveridge | 20for20 | Collective Conversation

Episode sponsored by:  Updater Updater is an app that gets residents move-in ready faster. Did you know that residents happy with their move-in experience are 59% more likely to renew their lease? Move-ins matter. Get them right with Updater. Visit go.updater.com/mike Updater offers a special gift for our listeners when booking a demo. The short demo may be the key to improving your customer experience while freeing time for your front-line teams. In this episode of Collective Conversations, Mike Brewer is joined by returning guest Dom Beveridge, Multifamily Proptech Expert, Publisher, and Principal of 20for20. Dom partnered with Donald Davidoff and Jeffrey Roper to write a White Paper on multifamily revenue management. Their work answers a fundamental misunderstanding of how revenue management systems work in an article published by ProPublica in 2022. Key Discussion Points: 1. Multifamily operators are being compared to Cartel-like price-setting practices. Due to pending class action lawsuits, multifamily operators cannot publicly defend their revenue management practices. 2. The price control accusations are untrue and reveal a clear lack of understanding of the practice of revenue management. 3. There are significant barriers to the practice of multifamily operators and owners acting as a unified group to manipulate supply to increase revenue. a. The owner and operational market is extremely fragmented b. Industry Structures c. Occupancy and Risk d. Ownership objectives vary widely by property. e. Each property’s unique proforma is tied to its capital structure and demands. f. It is impossible for all owners and managers in a market to act in lockstep concerning pricing strategies. Mike and Dom dive into the various notes around revenue management in the multifamily industry, a practice that has existed for two decades. To better understand this hot topic, tune in to this compelling episode of Collective Conversations. About Mike Brewer - Mike is enthusiastic about people, technology, and the multifamily industry. He serves as President of RADCO Residential and COO of The RADCO Companies. As the Founder of Multifamily Collective, Mike shares insights and wisdom through this series of Collective Conversations with others in this industry. About Dom Beveridge – Dom has been a leader in consultancy, technology, and marketing for more than 25 years. He created 20 for 20 – the multifamily industry’s leading survey of operations and technology. We love your feedback, questions, and topic suggestions for future episodes. Please reach out to us via [email protected] or connect with us on LinkedIn, YouTube, and Facebook. Our podcasts and interviews are also available on Apple Podcasts, Spotify, or anywhere you stream your podcasts. Please subscribe and share! If you or someone you recommend is interested in learning more about sponsorship opportunities, please contact us. Please sign up to our weekly newsletter – The Collective Rundown Disclaimer: The views and opinions expressed in this podcast are solely those of the individuals involved and do not necessarily reflect the official policy or position of Multifamily Collective or any other organization mentioned during the episode. The podcast is for informational purposes only and should not be considered professional or legal advice. Always consult a qualified professional or your organizational leadership before making strategic, professional, financial, or investment decisions.