Entrata Revenue Management - Renewal Lease Pricing Recommendation Workflow

2. Verify you are using the New Renewals dashboard.

If your New Lease and Renewals are not in separate tabs select "Switch to New Renewals"

3. Verify Switch to New Renewals

4. Update your dashboard settings by clicking on the 3 dots above "Price Matrix".

Once this is updated it should remain the same for all future logins.

5. Click "Display Settings"

6. Verify System Generated Price is set to "Best Price"

7. Save the Display Settings

8. Update the Filters for the time period of the Renewal Offers for review

9. Click on the Calendar Icon or manually enter the date range

10. Select the beginning and end dates for the period you will be reviewing and click done.

Some sites review half of the month at a time. Other sites might review the whole month, depending on how many expirations there are for a given time period.

11. Next click on the drop down for Hide Lease Type > select "Month-to-Month"

12. Click "Apply" to update the Renewals Dashboard

13. Verify your filter settings are accurate and then click on the 3 dots above "Price Matrix"

14. Select "Renewal Offers Report"

15. Select "Download Report"

16. The report runs the information per apartment vertically - You can find information on each apartment at the top of the report and the pricing will be in the same column below.

Renewal pricing is reviewed based on the 12 month recommended rate.

17. The recommended rate for Apartment 03-08 is $2,002.00 at a 4.20% increase on the 12 month term.

18. Below the 12 month rate add your notes for recommendation to the pricing team

19. The next Apartment 06-028 has a recommended rate of $1800.00 at 9% increase

20. The note below the 12 month rate for Apartment 06-028 is to "Override - Inc 3% $1700.

The pricing team will review these recommendations and determine the override is in line with the pricing we want to offer on the 12 month rate for this renewal.

21. After you have reviewed the 12 month rates you will Save the excel file and email it to our pricing team and CC your regional manager.

22. You will receive an email back from the pricing team to let you know if they agreed with your recommendations or they will provide feedback on the 12 month rates and their recommendations for review.

The pricing team will update the pricing in Entrata and let you know when you can begin the renewal offer process.