Yieldstar in short, helps apartments get the maximum amount of revenue for their individual apartment units each day. It uses a variety of factors to determine what the prices of apartment homes should be on a daily, if not hourly basis. Therefore, apartment communities will be able to achieve maximum rents depending on apartment vacancies, demand, move in date, lease terms, etc.
However, we wanted to point out that there are a few disadvantage to this system. The other day one of our clients contacted our company requesting information for a certain apartment community. We contacted the community that morning and indicated to our client that the price of the unit in question was “x” dollars per month. When our client arrived at the community later that day they found out that the price had increase by $20 dollars per month.
Our client was extremely upset. But who is to blame for this increase in pricing. Yieldstar has a system that changes more than once during the day. A good apartment locator should warn their clients that if they are going to tour a community later in the day, that the apartment pricing may go up or down. So if you motivate one of your customers to tour a specific Woodlands apartments home or specific apartments in Houston that are on Yieldstar, educate them that pricing may change by the time they arrive on-site.