Shifting the apartment pricing paradigm.: An article from: Journal of Property Management

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Shifting the apartment pricing paradigm.: An article from: Journal of Property Management Overview

This digital document is an article from Journal of Property Management, published by Institute of Real Estate Management on September 1, 1995. The length of the article is 2916 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Apartment pricing is usually determined using the 'deductive' or 'derived' process. This pricing method involves determining the total carrying cost of the property, including such expenses as salaries, operations, property taxes and insurance, and adding in a dollar amount to represent a 'fair profit.' Pricing is based on the physical features of the property, such as location, age, square feet and security. It is argued that this conventional rent-setting paradigm no longer works in today's value-conscious apartment environment. It prevents apartment owners from maximizing the value and profit that they can derive from their property. A new pricing model is needed, one that takes into account all of the value inherent in the apartment, including its staff quality, building reputation and security quality. One such model is the pricing strategy introduced by Harvard marketing professor Theodore Levitt. This paradigm is discussed.

Citation Details
Title: Shifting the apartment pricing paradigm.
Author: Laurence C. Harmon
Publication:Journal of Property Management (Refereed)
Date: September 1, 1995
Publisher: Institute of Real Estate Management
Volume: v60 Issue: n5 Page: p24(9)

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