Unit Push Rate Optimization allows you to configure rate changes for unoccupied units based on the number of days a unit group has been at an occupancy level. For instructions to automate rate increases for occupied units, read out article: Tenant Rate Optimization.
To configure your Push Rate settings and plans in SiteLink Web Edition, navigate to the Company page and click Unit Push Rate Optimization.
1. Set your Revenue Management defaults
Check Enable Revenue Management. This box must be checked in order to make changes to Push Rates.
Make selections for the following general settings:
Default Rate Choice
- Standard rate is used by default: The Standard Rate on the unit will be used by default when moving a tenant in. The Push Rate can still be selected.
- Revenue management rate is used when available:The Push Rate (if available) will be selected by default when moving a tenant in and cannot be changed.
Revenue Management Rate Options
- Reduce unit type and area rates with no leases signed for X days by X%: Select this option to reduce the rent rate if a unit group has not been occupied for a certain amount of time.Enter the percent to reduce the rent rate if a lease has not been signed for a unit after a given number of days.
- Exclude unit types and areas with less than X total units: Select this option to opt units out of Push Rates once the unit group reaches a certain number of available units. Enter the threshold of available units in the unit group before Push Rates will no longer be applied.
- Round: Select this option to round the Push Rate up to the nearest tenth, half dollar, dollar, five or 10 dollar.
- Include reserved units in Push Rate calculations: Select this option to consider reserved units as unoccupied when calculating Push Rates.
- Disable Unit Revenue Management for X days after Standard Rate change: Select this option to disable Push Rates for a certain number of days after you make a Standard Rate change to a unit group. Enter the number of days you would like to wait before Push Rates are enabled after a Standard Rate change.
Override based on Vacant Units
- Override push rates based on number of vacant units with the same unit type and size: Use this override feature to enter specific percentage increases based on the number of vacant units in each group.
2. Set Revenue Management Plans
The Standard Plans and Custom Plans tabs show the plan options that can be entered on the Plan Selection tab. Review or set your plan options and then enter the number of the plan/s you would like to set per month or unit Type and Size on the Plan Selection tab.
Standard Plans (1-4) tab
The Standard Plans provide a range of options based on how aggressive or conservative you would like your Push Rates to be.
- A negative number in the Days at % Occupancy column will decrease the unit rent rate by that percentage of the Standard Rate.
- A positive number in the Days at % Occupancy column will increase the unit rent rate by that percentage of the Standard Rate.
Custom Plans (5-8) tab
Plans 6-8 can be customized to meet your specific business needs by entering the percentage of the standard rate you would like to increase or decrease the rate by depending on how long a unit group has been at a given occupancy level.
For example: If you choose to use Option 6: Custom 1 and you want your Unit Revenue Management Tool to recommend rate increases of 4% for units at 83% occupancy after 100 days of occupancy, you would enter 4 in the corresponding cell.
You can see an overview of your Revenue Management plans on the Revenue Management Snapshot tab.
Click OK to save your selections when you are done making changes.