Thanks to Big Data, Landlords Know How to Squeeze the Most Out of Renters

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https://www.wsj.com/real-estate/commercial/thanks-to-big-data-landlords-know-how-to-squeeze-the-most-out-of-renters-eb7e5f02If you want to know why apartment rents got so high, some people say look to big data. Many landlords outsourced their pricing decisions to software that told them what rents to charge.

These algorithmic pricing systems analyze giant troves of information about the rental market. Then they direct landlords on how much to increase rent for each lease renewal, or what to ask for newly vacated apartments. Algorithms and other big data have changed the way many landlords do business. In the past, landlords would often make deep cuts to rents when the market started to head south, but algorithms showed them that wasn’t always necessary. Many building owners also once believed keeping their apartment buildings as full as possible was the best way to maximize profits.This copy is for your personal, non-commercial use only.

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