CX Unplugged | Pricing Pitfalls & Lessons from Spirit Airlines
Welcome to another episode of CX Unplugged, a Multifamily Media Network podcast. I’m your host Gabrielle Gonzalez, and today’s episode covers pricing strategies in multifamily management with a surprising lesson from Spirit Airlines’ recent bankruptcy.
Pricing — it’s always on our minds. But here’s the twist: sometimes, being too low can work against you.
The Spirit Airlines Effect
Spirit Airlines built its brand on ultra-low prices. But for many of us, $49 flights felt too good to be true — raising questions about the value and sustainability of the offer. And now, Spirit Airlines has filed for bankruptcy.
This reminded me of a time in my multifamily career when we faced a similar dilemma on a property with vacant storage units.
The Multifamily Takeaway
We had a 400-unit property with storage units that were 82% vacant. After investigating, we discovered the issue: they were priced at just $10/month—so cheap that residents didn’t see the value.
What’s your take? Have you encountered similar pricing challenges in your multifamily portfolio? Let’s connect on social media — I’d love to hear your thoughts!
Thank you for tuning in to CX Unplugged. If this episode resonated with you, please like, comment, and subscribe to the @MultifamilyMediaNetwork for more actionable insights. See you next time!
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