CUSTOMER DEMAND OPTIMIZED FLOOR PREMIUMS
240 unit garden style community
Gaithersburg, Maryland
Problem: Apartments located on top level of 4-story walk up garden building with high vacancy.
Solution: Traditional floor premiums of $10 per floor had been added from the 2nd to 4th floors. The premium was in addition to the base rent for each unit. Floor premiums were increased and changed to reflect customer demand: second floor $40, first floor $30, third floor $20 and top floor $10. The new pricing increased rental revenue and reduced vacancy time of higher priced top floor units.
Aggressive Corporate
Program Reduces Vacancy Apartment
Community Repositioned to Offer Residents MoreBetter Than
a One Bedroom
with DenCreative
Floor Plan Changes
for Pre-Selling CondosCustomer Demand
Optimized Floor PremiumsDifferent
Sales and Marketing Strategy for Subsidiary Company Due
Diligence for Water-View Property The
High Utility Cost Mystery More
than Expected When High Rents Were RequiredNew Owners Need AssistancePersistence
Changed Burdensome ADU Requirements Right
Customer, Wrong ProductThe
Value of Upgrades