Tampa Bay Business Journal - by Margaret Cashill, Staff Writer
Owners of rental properties in the Tampa Bay area are lowering rents and offering a variety of incentives designed for a rough marketplace as inventory expands...
Korman Residential Properties of Trevose, Pa., which runs Korman Residential at Riverchase in Temple Terrace, attracts renters with a 30-day move in guarantee, flexible lease terms and a one-day service guarantee.
Korman has not, however, changed its credit standards, even in situations where applicants are rejected because of a foreclosure or where they can prove their bank account balances with deposit slips, said Director of Marketing Aaron Helfman.
The last thing Korman wants to do is tell people they have to leave, Helfman said. “We have established systems and credit scores in place for everyone who applies, and we can’t make an exception.”
Korman in 2008 introduced profit optimization software that has allowed them to identify and react to softening and strengthening markets, to blend corporate strategy into pricing decisions and to enforce pricing policy compliance, Helfman said.
Instead of giving away two months’ rent, Korman can offer real-time pricing using an algorithm to crunch numbers, he said. “It helps out really everyone — the managers, investors. It makes everything easier.”
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