Donald Davidoff

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Multifamily Downturn Q&A - May 26th, 2020

by Donald Davidoff | May 26, 2020 12:00:00 AM

Each week our "downturn" roundtable enables us to discuss current pricing and revenue management (PRM) issues with some of the most experienced PRM practitioners in the industry. Each week we summarize the most recent insights. Below we summarize the audience responses to prompts (all answers are anonymous) on our most recent call (May 20) along with some information we re-shared from RealPage. If you have different insights 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. This week we opened up with a discussion about some key metrics we saw in a RealPage blog: Despite the pandemic, occupancy April remained well above the prior ten-year average and slightly above April 2019. Strong February and March occupancies helped with that as April 2020 occupancy was below March 2020. Normally April occupancy is higher than March Through mid-April, canceled move-outs were roughly double the historical norm. We look forward to future reports to see how long this tailwind sustains Retention rates in April were at least 400bps higher than normal (at 57.9%) All the above was at the expense of rent growth. Effective asking rents went from >2.5% YOY to 1.0%, the largest drop we've seen in our entire history in the industry The focus on asking rents can be misleading: executed effective rents were down 4.5% YOY, and likely will drop further

3 Reasons Multifamily Needs to Prepare for September 1

by Donald Davidoff | May 20, 2020 12:00:00 AM

During these first few months of the COVID-19 crisis, the two things that multifamily operators are most concerned about are rent collections and...

Multifamily Downturn Q&A - May 18th, 2020

by Donald Davidoff | May 18, 2020 12:00:00 AM

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...

Taking Stock: Nine Weeks Into COVID 19

by Donald Davidoff | May 11, 2020 12:00:00 AM

As we enter the 9th week of the public health and the ensuing economic crises, it’s probably a good time to take stock. It’s been a bit of a roller...

Multifamily Downturn Q&A - April 27th, 2020

by Donald Davidoff | Apr 27, 2020 12:00:00 AM

For the past few weeks, we have been holding a weekly "downturn" roundtable discussion for our clients. This group includes some of the most...

Why This Downturn is Different for Multifamily

by Donald Davidoff | Mar 26, 2020 12:00:00 AM

I often think of the economy as a metaphorical set of pipes with money (the "water") flowing through them. Recessions typically happen when the pipes...

Coronavirus: Catalyst or Catastrophe?

by Donald Davidoff | Mar 10, 2020 12:00:00 AM

I’m writing this sitting on an airplane wondering whether this week will be the last week I travel for quite a while. As the level of fear (dare I...

What Multifamily Gets Wrong About Renovation Pricing

by Donald Davidoff | Feb 20, 2020 12:00:00 AM

(This is the third blog in our current series on amenity pricing) It’s a classic conversation that will be familiar to every revenue manager who has...

The Surprising Persistence of Old-School Multifamily Selling

by Donald Davidoff | Jan 30, 2020 12:00:00 AM

A couple of months ago, I read a blog about multifamily sales. It caught my attention because the title referred to closing as "the bottom line."...

Five Reasons Why Unit Amenities May Be Harder Than You Think

by Donald Davidoff | Jan 14, 2020 12:00:00 AM

Last week, we talked about how unit amenity pricing is the most common place to uncover hidden NOI in multifamily rental operations, and we covered...

The Lowest-Hanging Fruit in Multifamily Revenue Management

by Donald Davidoff | Jan 8, 2020 12:00:00 AM

I toyed with a “New year’s resolution” post, to welcome the new year, but as 2020 gets underway there’s something that we at D2 are really excited...
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