Owners of large multifamily properties would absolutely be regularly analyzing data to maximize profits. Or why be a landlord!

No, I do not.  I must confess, I do not fully understand (1) how I would know what apartment complexes do with their business models or (2) why I would care.  What is the basis of this question?  What are you really after here? 

What negatively effects renters?  

I belong to the Apartment Management Association and the major holders use this software to track and keep prices where they need to be for maximum profitablity.

Did not know this, seems to be the model that hotels have used for years.

I do not David Martin 

We are in a state that is setting rental controls and making it more difficult for a landlord to evict a tenant. This is not apartment complexes, but rather government run amok.

The only rentals that I handle are my own personal investments and temporary rentals for those waiting to build or a home to hit the market that fits their criteria. Those are mostly temporary and they don't mind what the monthly expenditure is - typically!

However, if you're in the rental business, yes, this is great information to have, David.

I was not aware of this.

Thanks for sharing your observations.

My focus in real estate has always been residential so I can't add anything of value to the conversation. 

You can't fault the business for looking for that edge; they treat it like a hotel does, based on vacancy rates... & it's common for your rent to go up at renewal time, especially if the unit's in a desirable area.

Having said that, Renters should go into their initial lease looking to lock in the rate as long as they can. They should also know that Home Ownership would preclude them from this game. 

I pay no attention whatsoever to rental complexes or rentals in general.

 No

I need more clarification on your question too

I'm not aware of this.

David,

Yes, I did. A

Wow, really?  I did not know this.  IF they change their rates this drastically, do they also change all their advertixing daily as well?  I'll keep an eye out in my area and see if this is happening.   interesting. 

David Martin Sounds like they took the hint from what the oil companies are doing with gasoline prices. Might be some buyers out there when their lease goes up.

I have not been

Thr rental market in downtown Chicago is in chaos. The owners want artificial rent rolls and will give away the stars and moon to get it. The advertised price is now the very high end of the range.

i guess the laws of supply and demand...just like everywhere else

David Martin - interesting!

I do not usually work with tenants. 

No, I don't...no reason to in my market.

I had no idea this was done. 
I'm not into property management, and I don't think most apartment complex owners are that sophisticated in my rural area. I guess that's a good thing for the tenants. 

How do you do this?

He who has the gold makes the rules, nothing new here and no need to keep track. I'm a renter myself and love it.

Sounds like Uber pricing - based on demand of the moment; smart.

Many dynamics at play in property management. A good manager navigates

No on my watch list.

It is like they are running a hotel changing rates with availability. 

Foir single family it is apples and oranges. 

No.

used to

During some buyer markets years ago, I actively sent marketing to tenants, but that is all I have ever done with apartment complexes.

I have no idea...how did you find out about that? 

All the more reason to buy a home

I do not.  I don't deal with any leasing at all

Dynamic pricing (the same thing UBER does) is a model being entertained by many businesses.

Often entertained in FLORIDA to disguise price gouging when mother nature causes a run on plywood, fuel or survivalist food.

IN regards to applying it to renters....that would be truly a callous and heartless thing to do.  The rent trap becomes a until you die trap.

Most complexes in the area have a 3% escalator in the contract. Yes, conceivably, a new renter with the sign-up bonuses could pay less than the renewal. The parking lots however are remaining full of rent paying residents. The are unable to save so are also unable to escape.

I am a propery rights advocate, but something about this is WRONG.

Somewhat ... Pay is done on line these days...

Thanks

There are major national players in the apartment ownership/management/investment business. It should be no surprise that they employ sophisticated systems to manage their business and maximize their returns.

I'm glad I'm catching this after the update!  I did not know this, but it does not surprise me.  If I ever buy one of these properties, I'll be storing this in my memory banks!

I can see how this could be useful to market to renters to become buyers.

I stay as far away from rentals as possible....there's better business out there...