Brad Johnson increased profitability at a property-management firm by raising revenue per unit from the low $200s to the $300s through pricing changes and a resident benefits package, while also boosting efficiency by increasing the number of units each property manager handled.
What were the one or two levers that you were pulling on the hardest that, that really drove profit? Two things. I'll give you one, one on each side of the ledger. On the revenue side, what can I do to maximize revenue per unit? Analyze my pricing schedule, come through with a resident benefits package that was kind of new-ish in the industry at that time. Reforming my pet fees into a pet guarantee, doing a whole guarantee program, and then offering different rates of essentially like, here's our standard rate. And then here's our rate with our suite of guarantees. So really trying to drive RPU well into the 300s, starting from more like the low-ish 200s. So that was one, and that's a great driver. And then on the other side, I was very, very focused on units per full-time team member, full-time employee. Very specifically in our model, I was heavily focused on units per property manager in their portfolio.
