LRO’s unmatched data and holistic approach to pricing will further enhance Associated Estates’ existing revenue-focused pricing strategies.
Atlanta, GA (PRWEB) October 19, 2011
The Rainmaker Group, the leading provider of revenue management and profit optimization solutions to the multifamily housing and gaming/hospitality industries, today announces Associated Estates Realty Corporation (NYSE, NASDAQ: AEC), a publicly traded real estate investment trust headquartered in Richmond Heights, Ohio, has selected Rainmaker LRO™ (Lease Rent Options) as its revenue management software.
After several months of testing, Associated Estates chose LRO for its comprehensive training and streamlined implementation processes, as well as the system’s ease of use. Additionally, the strength of the software combined with Rainmaker’s commitment to deliver outstanding customer service and support influenced Associated Estates’ decision to select LRO. The software is currently operational at several Associated Estates properties, with a complete rollout to all 53 sites expected by the end of the year.
“We look forward to partnering with Rainmaker to expand our effectiveness in pricing new and renewal leases,” said John Shannon, senior vice president of operations for Associated Estates. “We know we have done a terrific job with pricing up to this point. Rainmaker’s LRO revenue management software provides us another tool to strengthen our communities’ ability to maximize rents.”
“Associated Estates decision to implement LRO across their portfolio continues to affirm the software’s leading position among the best performing multifamily REITs,” said Andrew Rains, executive vice president of LRO for The Rainmaker Group. “LRO’s unmatched data and holistic approach to pricing will further enhance Associated Estates’ existing revenue-focused pricing strategies.”
Rainmaker LRO™ is the leading multifamily lease rate optimization solution used to maximize revenue from apartment leases. The system calculates optimized pricing based on multiple factors that influence rate setting, including traffic and lease duration, move-in dates, competitive affects and other metrics. The system also produces enterprise-wide demand forecasts by measuring and analyzing historical and current market metrics and performing calculations necessary for occupancy predictions that are dynamically updated as market conditions change.
The Rainmaker Group is the market leader in profit optimization solutions for the Gaming & Hospitality and Multifamily Housing industries. Rainmaker leverages cutting-edge research in order to bring customers the most sophisticated solutions to their revenue management challenges. Adopted by industry leaders and niche players alike, Rainmaker's revolution™ and LRO™ software products provide clients a strategic advantage in achieving the highest profitability from their assets. For more information, visit http://www.letitrain.com.
About Associated Estates Realty Corporation
Associated Estates Realty Corporation is a real estate investment trust (REIT) and member of the Russell 2000 and the MSCI US REIT Indices. The company is headquartered in Richmond Heights, Ohio. Associated Estates' portfolio consists of 53 properties containing 13,908 units, located in eight states. For more information about the company, please visit its website at http://www.associatedestates.com.