The Demand Solutions Blog

Dom Beveridge

Dom Beveridge is a Principal with D2. He has held leadership roles in consulting, revenue management and marketing for more than 20 years. Dom's blogs cover revenue management, marketing, and multifamily technology and industry trends.
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Recent Posts

Multifamily Downturn Q&A - May 4th, 2020

Posted by Dom Beveridge on May 4, 2020 5:48:56 PM

For the last few weeks, we have been running a weekly "downturn" roundtable discussion for our clients (a group that includes some of the most experienced pricing and revenue management practitioners in the industry).  Each week we have been summarizing the insights that were shared during our latest discussion.

The content below is presented below in Q&A format, and all responses are anonymous. If you have different insights, opinions, or questions that you would like us to address in the coming weeks, please leave them in the comments or contact us through the site.

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Topics: Multifamily Trends, Future, COVID-19 Downturn

Multifamily Downturn Q&A - April 20th, 2020

Posted by Dom Beveridge on Apr 20, 2020 1:13:12 PM

Last week we shared some of the talking points from our weekly "downturn" roundtable discussion for our clients. We are convening this group, which includes some of the most experienced pricing and revenue management practitioners in the industry, every week so this week we summarize insights that were shared during our latest discussion.

The content below is presented below in Q&A format, and all responses are anonymous. If you have different insights, opinions, or questions that you would like us to address in the coming weeks, please leave them in the comments or contact us through the site.

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Topics: Multifamily Trends, Future, COVID-19 Downturn

Multifamily Downturn Q&A - April 13th, 2020

Posted by Dom Beveridge on Apr 13, 2020 12:01:47 PM

For the last couple of weeks, we've been sharing insights designed to help multifamily companies to steer through the challenging market conditions created by COVID-19. Last week we initiated a weekly roundtable discussion for our clients, a group that includes some of the most experienced pricing and revenue management practitioners in the industry.

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Topics: Multifamily Trends, Future, COVID-19 Downturn

The "Downturn" Playbook - Your Questions Answered

Posted by Dom Beveridge on Apr 6, 2020 9:22:11 AM

Last week we ran a webinar where three of our experts shared their first-hand experiences of managing multifamily pricing through previous recessions. The session (a recording of which is available on our website) was well-attended and generated some great discussion. We answered some, but not all of the questions during the session.

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Topics: Multifamily Trends, COVID-19 Downturn

20 for ‘20 - What a Difference a Year Makes!

Posted by Dom Beveridge on Mar 24, 2020 1:56:58 PM

As many of you will already be aware, we recently published the 2020 edition of our 20 for '20 white paper.  Just as we did a year ago, we sat down with another 20 senior executives to get their perspectives on the outlook for the immediate future. Of course, the interviews took place before the coronavirus disrupted our 2020 plans, but the findings tell us a lot about what companies are working on from a technology perspective. As we shall summarize in this post, the industry has experienced a significant year over year shift. 

In our new 2020 paper, we have identified a new set of trends and observations about current projects and priorities, some of which we will highlight on this blog in the coming weeks. But below, we will recap the five big findings from last year and see what's changed in the interim.

1. No more "One Big Project" dynamic

A year ago, we were struck by the number of respondents (a half) who reported having spent 2018 focusing on a single project that had dominated their year, effectively consuming all IT delivery capacity other than business as usual. Seven of the ten had been PMS switches or major upgrades, in itself an anomaly.

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Topics: Multifamily Trends, Technology, Future

A Bump in the Road for Short-Term Rentals

Posted by Dom Beveridge on Mar 17, 2020 8:37:11 AM

A couple of weeks ago, before coronavirus took over our attention, we learned some potentially important news about the short-term rental (STR) sector. The story was about Airbnb-backed Lyric's decision to reduce its workforce by 20% as part of a "downsizing and restructuring." We were disappointed to see a rising star in our industry falter on its growth path, but encouraged by the decisiveness of their action and hope that it will leave the company in better shape to capitalize on the opportunity that we know it has.  

The decision may tell us a couple of things about the state of STRs in the multifamily industry. Remember, Lyric was one of several STR platforms funded during a heady 18-month period from 2018 to 2019. With the staggering growth of Airbnb, the might of Booking.com (especially in Europe), and Expedia's commitment to becoming a force in this space, the STR industry and market have been thoroughly validated. So what's holding back the organizations who are trying, like Lyric, to define the STR business model for multifamily?

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Topics: Multifamily Trends, Short-Term Rentals

The Coming Dichotomy of Multifamily Leasing

Posted by Dom Beveridge on Mar 2, 2020 2:09:38 PM

Where I come from (the UK), the English language is peppered with curious variations. One of the strangest is the perpetual controversy over the pronunciation of the word "scone." Everybody pronounces the vowel either as "own" or "on." Which side of the divide that people fall on follows no clear regional or socio-economic pattern. People adopt one pronunciation or the other and never change thereafter. And everybody is convinced that people who pronounce it the other way are entirely wrong to do so.

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Topics: Multifamily Trends, Leasing Performance

NMHC Annual 2020: When Even White Shirts Get Disrupted

Posted by Dom Beveridge on Jan 23, 2020 10:30:00 AM

It’s not often that one finds oneself struggling to stay warm in Florida, but it’s been happening this week in Orlando, where we’ve been these last couple of days, along with a few thousand of our closest friends at the 2020 NMHC annual meeting.  

Among the gathered throng of multifamily dealmakers huddled (mostly indoors to avoid the cold) one could not help but notice a marked break from the previously mandatory uniform of grey pants, white shirt and blue blazer.  Many attendees commented on the degree of self-expression in the clothing (we’re talking blue, and even the occasional checkered, shirts) and the apparent disruption of a long-established order. But it was a different type of disruption that grabbed at least some of the attention this week.

About that tipping point

On Wednesday we were treated to a rapid-fire panel featuring luminaries of three technologies that have more potential than anything to transform multifamily operations. A succession of providers of AI leasing agents; smart home technologies and self-tour came to the stage to answer questions from operators.  The dialogue - although too quick to do much more than whet the appetite for further research and discussion - touched on some themes to which our industry should be paying attention.

As Rick Haughey (NMHC’s VP of Industry Technology Initiatives) reminded us at the start of the session, our industry has moved “from laggard to leader” in proptech.  A year ago in our 20 for ‘20 white paper, we noted that the industry was at a technology tipping point, largely because of those three technologies.  What’s impressive is the progress that has been made in 12 months.

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Topics: Multifamily Trends, Technology, Future

Five Hot Takes from NMHC OPTECH

Posted by Dom Beveridge on Nov 15, 2019 11:26:38 AM

I think it was probably a record, and by some distance.  A whopping 2,300+ attendees were registered for NMHC OPTECH, and it made for a busy, busy show.  It will take us some time to decompress, organize and reflect on the many learnings and insights.  While we do that, here are a few instant reactions from the show.

Self-tour is HOT! 

Attitudes to several key technologies are quite different this year compared to a year ago. Nowhere is this more apparent than self-tour.  Last year, as we interviewed operations and technology leaders for 20 for ‘20, we were surprised at the push-back against this exciting and impactful technology.  While the range of views remains wide, the tide has clearly turned.

You might say that self-show has officially taken the place of short-term rentals as the hottest topic in the industry, as evidenced by the standing room only crowd at the “Cage Match” session on Tuesday.  Several companies who are experimenting with self tours shared their experiences, which ranged from working with the tech solutions to running manual tests with their on-site staff handing out keys. The panelists shared their excitement about the initial success and stats they've seen thus far, and it seems set to grow in 2020.

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Topics: Multifamily Trends, Technology

NMHC OPTECH 2019: We Need To Talk About Pricing

Posted by Dom Beveridge on Nov 4, 2019 2:54:14 PM

Can it really be time for NMHC OPTECH already? It appears so, and I’m looking forward to joining industry leaders and technology luminaries next week for what is usually one of the highlights of the fall, as we make our way to Dallas to learn about what’s new and what’s working in multifamily technology.

There are many reasons to be excited. It looks like there will be a record crowd for this year’s show, and it’s probably the proliferation of exciting new proptech that’s drawing the audience. But alongside the new and shiny, we will be taking some time to celebrate 18 years of multifamily Pricing and Revenue Management (PRM). This year I’m delighted to be leading the first PRM panel that’s taken place at OPTECH for years.

The fact that PRM has been strangely neglected for a few years at this leading technology show is at the heart of what this panel is all about. February of this year marked the 18th anniversary of the first-ever system implementation. However, the last ten of those years have coincided with unprecedented industry growth. There is good reason to think that it may be time to re-sharpen our focus on this critical capability and the technology that supports it.

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Topics: Pricing, pricing and revenue management, Multifamily Trends, Short-Term Rentals