LRO Renewal Manager is truly a game-changing solution that incorporates unmatched clarity, ease and efficiency into an overlooked and challenging component of revenue management.
Atlanta, GA (PRWEB) September 18, 2017
The Rainmaker Group, leading provider of revenue management and leasing effectiveness software to the multifamily housing industry, today announced at the Multifamily Executive Conference the release of Renewal Manager, a major enhancement to LRO (Lease Rent Options), its industry-leading revenue management platform. LRO Renewal Manager brings unprecedented consistency and analytical rigor to renewal pricing.
"At Rainmaker, we've long realized that renewal pricing is ripe for improvement across the industry and that the potential rewards of such improvements are huge," said Jon Pastor, Rainmaker’s Multifamily Division President. "Renewals typically account for more than half of an apartment community's revenue, but for various reasons receive a fraction of the attention that pricing teams pay to new leases. The culmination of more than a year of intensive research and development, LRO Renewal Manager is truly a game-changing solution that incorporates unmatched clarity, ease and efficiency into an overlooked and challenging component of revenue management."
Renewal Manager, which launched this week with early adopters and will be available to all LRO users in the fourth quarter of this year, gives users a brand-new way to develop and execute renewal pricing strategies. Its unprecedented flexibility enables teams to view and evaluate renewals by the batch or individual unit and promptly deliver data-driven renewal offers. The platform offers powerful visualization tools, highlighting key insights including in-place rents, asking rents and the impact of renewal offers on expiring leases; this data is available by unit type, community or group of communities.
Central to Renewal Manager's analytical capabilities is a “what-if” function that allows users to determine the impact of different potential renewal strategies on performance. With the visibility Renewal Manager provides into potential renewal strategies and its ability to easily share key metrics with all stakeholders, Renewal Manager facilitates efficient decision-making.
"Renewals are not always seen as the most exciting part of apartment operations, and they can fill operators with trepidation about how residents will respond to a rate increase," Pastor said. "Combine these factors with what tends to be an inconsistent process lacking the analytical focus of new lease pricing, and we identified a process that is just waiting to be enhanced. Renewal Manager delivers that improvement."
The Rainmaker Group, headquartered in Alpharetta, Georgia, is the leading provider of revenue management and leasing effectiveness software to the multifamily housing industry. The Company combines unique demand data, proprietary algorithms, robust technology, and deep industry expertise to deliver best-of-breed demand management solutions. The Company’s solutions continually analyze hundreds of variables to forecast supply and demand levels and formulate more than 1 billion optimal prices on a daily basis. Recognized as one of the top privately held companies in the United States, Rainmaker has been named to Inc. 5000’s Fastest Growing Privately Held Companies for the last seven consecutive years, and was named to the Atlanta Business Chronicle’s List of the 100 Fastest Growing Companies in Atlanta. In February 2017 RealPage, Inc. announced its agreement to acquire Lease Rent Options (LRO) and related assets from The Rainmaker Group for $300 million.
Rainmaker's client base includes more than 300 multifamily customers, including Equity Residential, AvalonBay Communities, MAA, Lincoln Property Co, Simpson Property Group, TruAmerica and Greystar. For more information, please visit http://www.letitrain.com.