Revenue management is relatively new to the multifamily industry, but it is widely used by airlines and hotel companies for long-term revenue benefits. Rainmaker is focusing its extensive multi-family housing industry experience to enable as many operators as possible to have access to proven revenue management technology.
Atlanta, GA (PRWEB) January 10, 2007
The Rainmaker Group, a world leader in revenue management software and services for multi-family housing and other industries, announced that Colonial Properties, Windsor Property Management Company (a General Investment and Development Companies affiliate), Mid-America Apartment Communities and Western National Property Management, with over 124,000 combined units, are conducting pilot installations of Rainmaker's revolution LRO system. The pilots minimize operator risk by certifying the projected lease/rental fee lift and increased revenue generated by the revolution LRO revenue management system before a full-scale installation.
Bruce Barfield, president of The Rainmaker Group, Inc., said, "The multi-family housing industry is recognizing the performance advantage revenue management technology gives operators. Rainmaker hosts pilot LRO installation programs for all prospective clients. This eliminates risk by demonstrating the amount of revenue increase they will likely experience when the system is implemented throughout their organization. The lift is more than 5 percent with some clients, which is very attractive to multifamily owners and REIT investors."
In a Rainmaker pilot test, a multi-family housing company selects six to eight properties in different markets to set rates with the revolution LRO revenue management system. A control group of similar properties that offers rates set by traditional methods is also monitored, and the two property groups are run side by side. At the end of the testing period, lease/rent performance and total revenue for each property group is analyzed to verify the impact of the LRO system. The customary testing period is six months, but may be shorter. Post Properties completed its Rainmaker trial in just a few weeks after the pilot demonstrated immediate, conclusive lease/rent revenue improvement. Post installed the revolution LRO system in mid-2006 throughout its portfolio.
The revolution LRO system has been in use at multi-family housing companies for five years, and its lease/rent revenue optimization success is verified by independent accounting firms. LRO was originally developed for Archstone-Smith. In 2005, The Rainmaker Group, Inc., an independent technology solutions and services provider whose expertise is focused on revenue management solutions, acquired rights to develop, implement and support the revolution LRO system. Current LRO clients include Simpson Housing, Equity Residential, Home Properties, Archstone-Smith, and Post Properties.
Bruce Barfield said, "Revenue management is relatively new to the multifamily industry, but it is widely used by airlines and hotel companies for long-term revenue benefits. Rainmaker is focusing its extensive multi-family housing industry experience to enable as many operators as possible to have access to proven revenue management technology."
Rainmaker will attend the NMHC Annual meeting in Scottsdale, AZ, January 10th-12th and welcomes the opportunity to meet with operators to discuss its clients' results in greater detail. Please contact The Rainmaker Group for more information at (877) 221-7474.
About Rainmaker Group
The Rainmaker Group provides, implements and supports the revolution LRO profit optimization software which is an innovative technology solution that enables multi-family housing operators to maximize revenue from apartment leases. revolution LRO lease rate improvement results have been independently validated by Price Waterhouse Coopers and other firms. For over five years revolution LRO has delivered optimized leasing rates to the largest operators in the industry including Archstone-Smith, Equity Residential, Post Properties, Simpson Housing, Home Properties, and a number of other leading multifamily housing companies. The Rainmaker Group incorporated in 1998.
The Rainmaker Group
5755 North Point Parkway
Alpharetta, GA 30022
Julie Keyser-Squires, APR