Baggage charge too? Landlords on board with airline-style rent pricing

Invesco, JPMorgan team with Yieldstar to manipulate rates

New York /
Jun.June 27, 2014 12:30 PM

Landlords in the city are increasingly adopting an airline-style pricing system for determining rents.

Companies like Yieldstar adjust rental rates so that they frequently change. Yieldstar has teamed up with large landlords such as Invesco, JPMorgan and LaSalle Investment Management to price units more accurately. Landlords are able to maximize profits by inputting details about the unit as well as the building, and the service provides a number. The system relies on market statistics and specific apartment characteristics to nail down asking rent.

For example, the system could recommend a three-month lease for upcoming prospective tenants in June, if a particular unit is expected to fetch a higher price in September.

“Each unit has a specific price as far as what floor it’s on, what the views are and whether it was recently upgraded,” REIT analyst Alexander Goldfarb of Sander O’Neill + Partners told the New York Daily News. “All the units have upcharges that apply on top of the base price.” [NYDN]Mark Maurer


Related Articles

arrow_forward_ios
Dov Hertz lands $442M loan for Sunset Park warehouse project
Dov Hertz lands $442M loan for Sunset Park warehouse project
Dov Hertz lands $442M loan for Sunset Park warehouse project
Broad Street Development, Invesco refi 80 Broad for $150M
Broad Street Development, Invesco refi 80 Broad for $150M
Broad Street Development, Invesco refi 80 Broad for $150M
Bet against retail costs investor big-time
Bet against retail costs investor big-time
Bet against retail costs investor big-time
Mynd CEO and co-founder Doug Brien and Invesco Real Estate CEO Scott Dennis (Mynd, Twitter via CBRE)
Invesco-backed Mynd to spend $5B on single-family rentals
Invesco-backed Mynd to spend $5B on single-family rentals
JPMorgan CEO Jamie Dimon and 270 Park Avenue (Getty, Google Maps)
JPMorgan Chase will embrace “flexible” design for 270 Park HQ
JPMorgan Chase will embrace “flexible” design for 270 Park HQ
David Wolkoff of G&M Realty. (Getty, 5Pointz LIC)
Wolkoff family firm snags $350M loan for 5Pointz
Wolkoff family firm snags $350M loan for 5Pointz
The “flexible hybrid model” is set to debut in July in North America (iStock)
Et tu, Ford? Automaker lets 30K workers stay home post-pandemic
Et tu, Ford? Automaker lets 30K workers stay home post-pandemic
55-15 Grand Avenue, Queens; Phil A. Belling of LBA Realty; Jamie Dimon of JPMorgan Chase (Getty, RXR/BL Architects)
LBA lands $316M loan for Amazon warehouse in Maspeth
LBA lands $316M loan for Amazon warehouse in Maspeth
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...