This article will showcase the steps you will need to follow to conduct a rate review for a property in Daylight.

Steps

1. Log in to ApartmentIQ and Navigate to Daylight 
 

2. Expand Your Subject Property

Click to expand subject property data into pre-defined bed groups.
 

3. Take a Rate Action by Bed Group

After reviewing the data for each bed group, select the base rent you would like to establish as your new base rent by bed group. 

Would you like to take the recommended base rent? Hold yesterday's base rent? Or override the suggested base rent and enter a new value?

Please Note: As a reminder, the rent prices here are base rents- this means that the rent you are establishing here excludes floor plan premiums and amenities.
 

If you wish to override the base rent for all units within the bed group, simply enter desired new rent, or enter the desired change as a positive or negative value. Save the value. 
 

To modify the rate action for a specific unit, click the checkbox next to it. This allows you to implement a loss leader strategy or adjust pricing to meet unique business needs.

Review the rate and take a rate action for each bed group as shown below. Leave comments for your Revenue Manager by pressing the comment icon next to the selected new rent. 
 

Once the new rent has been selected and comments have been added, click “Approve Rents” to move the “Rate Review” into the “Pending Approval” workflow status. 

Once in pending status, your Revenue Manager will review your comments, and approve the pending rate review. 

Once the rate is approved by your Revenue Manager, the subject property will move into the “Approved” status.