Do you monitor your competition?

[Ryan Detzel]

It's probably different based on the market you're in but where I'm going to be renting all 250 units are basically the same minus furnishings and marketing. From what I've seen there is a lot of room for improvement so we're going to focus on just making the best possible place in the complex and hope that we'll get return visitors because of that. With that said, I have started tracking occupancy and rates for all "competitors" in the complex (16 other units). I'm not sure how or if I'll use this data yet but I will have it if I need it. I'm hoping (fingers crossed) that the unit will book up quick and I won't need to bother to see what the competition is doing but time will tell. I'm curious if others track local competition, data points like availability, rates, amenities, etc?