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RMS is what airlines use to price tickets and have done almost since the automated calculating computer was invented. Use of that kind of software has spread t
by techsupporter 8y ago
RMS is what airlines use to price tickets and have done almost since the automated calculating computer was invented. Use of that kind of software has spread to all kinds of industries.
Large rental property management companies absolutely use RMS. You can see it in action if you go to the rental sites for a large apartment development (if you want one in real life, search for "Thorton Place Apartments" in Seattle). Every possible amenity or detail about the apartment is factored into the overall rent, including which direction it faces, floor, whether it's recently been painted, along with how many of this particular type or in this building are left over, and then your particulars like how long of a lease you want, whether you're bringing a pet[0], and even what employer you work for.
That all gets crunched and a number falls out that sometimes has a relationship to what the glossy marketing copy also had printed on it. Rents for each unit can and will vary day-by-day as apartments are rented and notices handed in.
0 - Thorton Place doesn't do it but another apartment building in Lake City absolutely does bump up the base rent by around $17 if you pick "with pet" versus "without pet," in addition to lumping in a $45 "pet rent" fee.
- ryanwaggoner 8y agoYeah, I see this on cruise ship cabins now too. There are different classes, but the cabin pricing varies a decent amount within each class based on all kinds of minor factors. Midships vs forward or after, close to elevator, what's above / below you, size of balcony, adjoining room, pullout couch, obstructed view, etc, etc. Kind of annoying in that you used to be able to "get lucky", but it's more efficient in a competitive market (which cruising definitely is) to be able to select exactly what you want and only pay for that.