AI Comp: Days on Market

Here is what days on market look like today for a Stake Network property, and how they benchmark against their best, AI selected, comparisons.The comparisons are selected by AI to ensure they are the most accurate representation of the direct competition in the sub-market.

Days on market means lost income. More days, less income. In this economic environment, that’s even more of a problem. So, the question is what to do about it?

Responding to demand changes is tricky, and often the only insight provided by revenue management tools is to simply lower rents.

But what if days on market could be optimized based on renter behavior, in real-time, with incentives? Add the right incentive to encourage residents to sign a lease, and sooner, and measure the result. Keep benchmarking against the competition and optimize.

That’s why today, to kick off 2024, Stake is proud to announce AI Comp: Days On Market.

AI Comp: Days on Market — included free in Stake’s Loyalty Cloud — is the only revenue management tool to not only track where days on market are trending at comparable properties, but benchmark that performance to the properties own days on market.

Know it. Act on it. Optimize it.

Specifically, AI Comp: Days On Market empowers properties to:

✅ Benchmark days on market against the right comparisons

‍✅ Know the right comparisons based on AI across 5 million units

‍✅ Compare days on market with AI by price, asset class, and zip code

‍✅ See specific AI comparisons by unit type

‍✅ Compare loyalty, incentive, and Cash Back strategies to lower days on market

AI Comp: Days On Market are available for free in Loyalty Cloud for properties in the Stake Network. It's incredibly fast and easy to use, and AI Comp: Days On Market empowers on-site, revenue, and asset management teams to better target their incentives and outperform the market.

AI Comp: Days On Market are available for free in Loyalty Cloud for properties in the Stake Network. It's incredibly fast and easy to use, and AI Comp: Days On Market empowers on-site, revenue, and asset management teams to better target their incentives and outperform the market.

✅ Understand resident payment behavior, including delinquency

‍✅ Manage incentive campaigns: offers, lease-terms, seasonality, property and unit type.

‍✅ Set incentive actions: lease signing, lease renewals, and rent payments

‍✅ Track resident sentiment with StakeSay

‍✅ Improve resident data integrity by increasing accuracy of contact info

‍✅ Gain insights into anonymized and aggregated resident spending behavior

More days on market, more lost revenue.

It is an easy equation: more days a rental sits on market, the less revenue. 30 days? That’s equivalent to one-month free? 15 days, 2 weeks.

But if you could reduce 30 days to 20 days? And 15 to 10? Things start to look a lot better.

Lower the rent, or else…

Other revenue management tools simply tell you to lower the rent to solve for days on market. Price up in good times, price low in uncertain times.

This is an unsophisticated view, with the wrong inputs, data, and leads to terrible decisions for property owners, “lower your rents, or else…”

Worse, concessions are unmeasurable, who knows if they are truly working? But, Stake’s AI Comp: Days on Market takes the Cash Back offered and benchmarks against the market. With direct comparison, properties in the Stake Network can optimize their incentives to increase revenue by lowering days on market.

Don’t just know, act! Outperform with Stake.

Stake’s data is unparalleled in empowering properties to outperform comps in days on market. Why use AI? Because we are working to make Stake not just “DIY” but “do it for me” so your teams spend less time fiddling with technology, and more time empowered by it. Using AI removes bias and ensures properties are truly choosing the best comparisons, and therefore truly outperforming the market. The combination is powerful: humans use the insight to optimize, and less time managing technology.

Why are Stake’s AI Comp: Days On Market? And what else is free with Stake?

Stake only makes money when properties successfully offer Cash Back to residents. It is in Stake’s interest to offer as many tools as possible to help properties better price concessions, attract residents, and reduce delinquencies. In fact, Stake's customers only pay for success.

But Stake doesn’t just offer all the tools in Loyalty Cloud for free, Stake offers free financial amenities to all residents in the Stake Network. It's simple to start, see the impact Stake can bring, and be prepared for the uncertain concessions market ahead.

How to start with AI Comp: Days On Market?

Stake isn’t just a DIY solution, Stake provides a complete “do it for me” service. That’s AI plus our hands-on Property Performance team.

Sign up for free, see the insights, and spend only once you are comfortable with the recommendations. Even then, test, optimize, and rely on Loyalty Cloud or Property Performance team to do the work for you. No extra time for teams, just smarter, better ways to tackle the big issues and drive revenue up.

Contact us here to get started with AI Comp: Days On Market, free financial amenities and rewards, or just to ask Stake’s team to pull data for you.