[RPPTL LandTen] YieldStar
Has anyone heard of YieldStar?
I have a client who has a lease that renews at the end of the term as a month to month with a $100 increase in rent or the YieldStar calculation.
If the YieldStar calculation for renewal enforceable?
Client has no idea what YieldStar is and was told her rent is going up almost $300 because of the YieldStar calculation.
I think there is another company called Goldstar.
Leonard P. Cabral, Esq.
212 North Park Ave.,
Sanford, FL 32771
Leonardcabral@lenslaw.com
(407)330-4998
The information herein is legally privileged For Official Use Only and protected under the Privacy Acto of 1974, as amended. Unauthorized disclosure or misue of this Personal Information may result in criminal and/or civil penalties." If you have received this e-mail message in error, please reply to sender immediately with the statement "RECEIVED IN ERROR"and destroy the original message.
It is a company that helps apartment communities determine rents like
airlines determine fares based on supply/demand etc.
There is nothing wrong with raising the rent on renewals or month to month.
Harry
LAW OFFICES OF
HEIST, WEISSE & WOLK P.A.
PH: 1 800 253 8428
FAX: 1 800 367 9038
"Serving the Property Management Professional"
Website: http://www.evict.com/ www.evict.com
Email: mailto:harry@evict.com harry@evict.com
https://www.facebook.com/pages/Heist-Weisse-Wolk-PA/343965575625870
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From: landten-bounces@lists.flabarrpptl.org
[mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Leonard Cabral
Sent: Tuesday, October 27, 2015 5:43 AM
To: RPPTL Landlord Tenant Committee
Subject: [RPPTL LandTen] YieldStar
Has anyone heard of YieldStar?
I have a client who has a lease that renews at the end of the term as a
month to month with a $100 increase in rent or the YieldStar calculation.
If the YieldStar calculation for renewal enforceable?
Client has no idea what YieldStar is and was told her rent is going up
almost $300 because of the YieldStar calculation.
I think there is another company called Goldstar.
Leonard P. Cabral, Esq.
212 North Park Ave.,
Sanford, FL 32771
(407)330-4998
The information herein is legally privileged For Official Use Only and
protected under the Privacy Acto of 1974, as amended. Unauthorized
disclosure or misue of this Personal Information may result in criminal
and/or civil penalties." If you have received this e-mail message in error,
please reply to sender immediately with the statement "RECEIVED IN ERROR"and
destroy the original message.
The problem I have is that the lease states that the rent will increase $100 a month at the end of the term. Then it mentions the YieldStar. Tenants don't know what it is or that the rent could go more than $100. I think it is misleading. If there was no mention of the $100 increase in the lease I think the YieldStar would be ok. I don't think there is a meeting of the minds at this point, (the lease does not state subject to change).
As far as what is wrong with it, Probably nothing wrong with the program but there will be people that will use it to manipulate the market especially if the numbers are calculated using the owners' own properties to calculate the rent.
Leonard P. Cabral
Leonardcabral@lenslaw.com
From: landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Harry Heist
Sent: Tuesday, October 27, 2015 7:40 AM
To: 'RPPTL Landlord Tenant Committee' landten@lists.flabarrpptl.org
Subject: Re: [RPPTL LandTen] YieldStar
It is a company that helps apartment communities determine rents like airlines determine fares based on supply/demand etc.
There is nothing wrong with raising the rent on renewals or month to month.
Harry
LAW OFFICES OF
HEIST, WEISSE & WOLK P.A.
PH: 1 800 253 8428
FAX: 1 800 367 9038
"Serving the Property Management Professional"
Website: www.evict.comhttp://www.evict.com/
Email: harry@evict.commailto:harry@evict.com
[cid:image001.png@01D110BB.BB968E30]https://www.facebook.com/pages/Heist-Weisse-Wolk-PA/343965575625870
Visit us on Facebook
THIS E-MAIL MESSAGE IS CONFIDENTIAL, ATTORNEY-CLIENT PRIVILEGED, AND INTENDED FOR THE PERSONS NAMED ABOVE ONLY. ALL OTHER USE, COPYING, OR DISTRIBUTION IS STRICTLY PROHIBITED.
From: landten-bounces@lists.flabarrpptl.orgmailto:landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Leonard Cabral
Sent: Tuesday, October 27, 2015 5:43 AM
To: RPPTL Landlord Tenant Committee
Subject: [RPPTL LandTen] YieldStar
Has anyone heard of YieldStar?
I have a client who has a lease that renews at the end of the term as a month to month with a $100 increase in rent or the YieldStar calculation.
If the YieldStar calculation for renewal enforceable?
Client has no idea what YieldStar is and was told her rent is going up almost $300 because of the YieldStar calculation.
I think there is another company called Goldstar.
Leonard P. Cabral, Esq.
212 North Park Ave.,
Sanford, FL 32771
Leonardcabral@lenslaw.commailto:Leonardcabral@lenslaw.com
(407)330-4998
The information herein is legally privileged For Official Use Only and protected under the Privacy Acto of 1974, as amended. Unauthorized disclosure or misue of this Personal Information may result in criminal and/or civil penalties." If you have received this e-mail message in error, please reply to sender immediately with the statement "RECEIVED IN ERROR"and destroy the original message.
Does anyone know whether the YieldStar algorithm is trustworthy?
See:
http://www.nytimes.com/2011/11/30/realestate/commercial/landlords-use-computers-to-arrive-at-the-right-rental-fee.html?_r=0
. Also: http://www.charlotteobserver.com/news/business/article9116507.html
CHARLOTTE OBSERVER
"Why you pay more rent than your neighbor"
A two-bedroom apartment in one of north Charlotte’s largest complexes could
cost you about $900 a month. Next
week, it might run you hundreds of dollars more. Apartment shoppers ...are
finding that prices on units they’re interested in can vary dramatically
from day to day, even hundreds of dollars in the span of a week.
... Dynamic pricing, as it’s called, drives what you pay for everything
from hotel rooms to the hottest items on Amazon – anything where supply and
demand can fluctuate quickly. ...
Apartment managers acknowledge they’ve heard some complaints about
different rents for similar units. But
investment companies like the pricing method – also known in the industry
as yield management – because it allows
them to systematically set rates across multibillion-dollar portfolios and
rapidly respond to changing conditions in
specific markets. .....
.... Prices there are set daily, and each of the complex’s 267 units has
its own rate. If a half-dozen units lease over the weekend, she said, the
price can spike....
On Tue, Nov 10, 2015 at 3:46 PM, Leonard Cabral LensLaw@lenslaw.com wrote:
The problem I have is that the lease states that the rent will increase
$100 a month at the end of the term. Then it mentions the YieldStar.
Tenants don’t know what it is or that the rent could go more than $100. I
think it is misleading. If there was no mention of the $100 increase in
the lease I think the YieldStar would be ok. I don’t think there is a
meeting of the minds at this point, (the lease does not state subject to
change).
As far as what is wrong with it, Probably nothing wrong with the program
but there will be people that will use it to manipulate the market
especially if the numbers are calculated using the owners’ own properties
to calculate the rent.
Leonard P. Cabral
From: landten-bounces@lists.flabarrpptl.org [mailto:
landten-bounces@lists.flabarrpptl.org] *On Behalf Of *Harry Heist
Sent: Tuesday, October 27, 2015 7:40 AM
To: 'RPPTL Landlord Tenant Committee' landten@lists.flabarrpptl.org
Subject: Re: [RPPTL LandTen] YieldStar
It is a company that helps apartment communities determine rents like
airlines determine fares based on supply/demand etc.
There is nothing wrong with raising the rent on renewals or month to month.
Harry
*LAW OFFICES OF HEIST, WEISSE & WOLK P.A. PH: 1 800 253 8428 FAX: 1 800
367 9038 "Serving the Property Management Professional" Website: *
www.evict.com http://www.evict.com/
- Email: *harry@evict.com harry@evict.com
[image: cid:image001.png@01D110BB.BB968E30]
https://www.facebook.com/pages/Heist-Weisse-Wolk-PA/343965575625870
Visit us on Facebook
THIS E-MAIL MESSAGE IS CONFIDENTIAL, ATTORNEY-CLIENT PRIVILEGED, AND
INTENDED FOR THE PERSONS NAMED ABOVE ONLY. ALL OTHER USE, COPYING, OR
DISTRIBUTION IS STRICTLY PROHIBITED.
From: landten-bounces@lists.flabarrpptl.org [
mailto:landten-bounces@lists.flabarrpptl.org
landten-bounces@lists.flabarrpptl.org] *On Behalf Of *Leonard Cabral
Sent: Tuesday, October 27, 2015 5:43 AM
To: RPPTL Landlord Tenant Committee
Subject: [RPPTL LandTen] YieldStar
Has anyone heard of YieldStar?
I have a client who has a lease that renews at the end of the term as a
month to month with a $100 increase in rent or the YieldStar calculation.
If the YieldStar calculation for renewal enforceable?
Client has no idea what YieldStar is and was told her rent is going up
almost $300 because of the YieldStar calculation.
I think there is another company called Goldstar.
Leonard P. Cabral, Esq.
212 North Park Ave.,
Sanford, FL 32771
(407)330-4998
The information herein is legally privileged For Official Use Only and
protected under the Privacy Acto of 1974, as amended. Unauthorized
disclosure or misue of this Personal Information may result in criminal
and/or civil penalties." If you have received this e-mail message in
error, please reply to sender immediately with the statement "RECEIVED IN
ERROR"and destroy the original message.
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