robertbitchum t1_izlr6s3 wrote on December 10, 2022 at 12:59 AM

The rents change literally day to day. It’s supposedly based on some algorithm but they’re all magically about the same increase/decrease.

caro822 t1_izmcltu wrote on December 10, 2022 at 3:59 AM

What we’re told is that the algorithm looks at the occupancy, the tours/traffic/ the applications and what our comps are pricing at and then sets the price Every days.

This is different in the past, where on Monday, everyone would call their comps and get this information and pass it off to the regional managers who would set the prices for the week. Now this is happening on a much larger scale every single day so there’s not a human behind it and the prices can go up 31 times a month instead of 4.

What happened in my last property is that the prices went up $250 over the summer due to the algorithm and my property manager had to contact multiple people to course correct because those prices were affecting our renewals. Moral of the story is the prices should have never been that high, but because of some math equations many people were paying $200-300 more than their neighbors for the exact same apartment.

robertbitchum t1_izmg3vr wrote on December 10, 2022 at 4:32 AM

Yeah it happened to me. Waited a week to sign and am paying more than I would have ☹️.

caro822 t1_izmgkja wrote on December 10, 2022 at 4:37 AM

Yep. My SIL ended up paying an extra $50 a month because of this. Like it’s my job but if you really like a place, it’s in your best interest to apply that day even if you withdraw later because that price won’t be there later.