It’s been a great market, and you can always look at gross rent growth in a good market and feel successful, but clearly it’s the rate that is making the difference in growing both our rents and revenue.
Atlanta, GA (PRWEB) August 18, 2014
The Rainmaker Group, the leading provider of revenue management and profit optimization solutions to the multifamily housing and gaming/hospitality industries, announces the successful migration of Sherman Residential to the Rainmaker LRO revenue management platform from another system. The implementation of LRO emphasizes the third-generation, family-owned company’s commitment to transitioning to user-friendly, advanced-analytics software solutions across its portfolio of 16 Sunbelt communities.
“Since 1922, our philosophy has always been the same at Sherman: take care of our properties and take care of our residents,” says Mark Gluskin, chief financial officer for Sherman Residential. “To that end, we are consistently evaluating our technology investments, and when we compared revenue management products, LRO was easier to use, delivered better reporting, and provided great customer service and support.”
Prior to LRO, Sherman Residential utilized the pricing component included in the firm’s property management software, or priced units manually based on weekly comp reports. The successful transition to Rainmaker LRO across the Sherman portfolio was swift and seamless. In addition to optimizing pricing, LRO also provides Sherman leasing associates with more flexible lease terms and has resulted in significant revenue increases.
“Sherman Residential is a great example of the success regional and even smaller, national apartment owners can achieve compared to their competitors by utilizing optimized pricing with Rainmaker LRO,” says Andrew Rains, president of Rainmaker LRO. “Their seamless transition from one revenue management system to LRO likewise shows the ease at which companies can upgrade to pricing systems with superior results, analytics, and business intelligence.”
According to Gluskin, even the current hot rental market can’t hide the success that LRO is delivering to Sherman Residential’s bottom line. In particular, LRO is pushing great results on year-over-year revenue increases, with a slight decrease in occupancy providing additional pricing power to lift rents.
“It’s been a great market, and you can always look at gross rent growth in a good market and feel successful, but clearly it’s the rate that is making the difference in growing both our rents and revenue,” Gluskin says. “We’ve seen tremendous strides there, it has clearly been an improvement and is evidence that the platform is working for us.”
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.
Click here to learn more about how multifamily apartment companies are implementing or migrating to the Rainmaker LRO revenue management solution.
The Rainmaker Group is the market leader in profit optimization solutions for the Multifamily Housing and Gaming & Hospitality industries. Rainmaker software, coupled with professional business consulting services, enables multifamily housing operators to maximize revenue from apartment leases and helps operators of casino hotels and other hospitality enterprises secure the most valuable customers to increase their profitability. An innovator and thought leader in the highly specialized revenue optimization field, Rainmaker leverages cutting-edge research to bring customers the most sophisticated systems and help them achieve the highest profitability from their assets. Multifamily housing clients include leaders such as AvalonBay Communities, Equity Residential, Gables Residential, Post Properties, MAA and more. Gaming/Hospitality clients include leading casino/hotel organizations such as Atlantis The Palm Dubai, Caesars Entertainment, MGM Resorts International, Omni Hotels & Resorts, Wynn Las Vegas and many others. A Microsoft Gold Certified Partner headquartered in northern Atlanta, GA, Rainmaker has for three years running ranked on the Inc. 5,000 list among America’s top fastest-growing, privately held companies. For more information, visit http://www.LetItRain.com.