Once our teams were familiar with LRO they realized it gave them one more tool to increase their competitiveness.
Atlanta, GA (Vocus) February 18, 2009
The Rainmaker Group, the world leader in automated revenue management software and services to the multifamily housing and gaming hospitality industries for total property profitability, announced that Windsor Communities implemented the revolution LRO multifamily housing revenue optimization system to optimize lease rents at 40 communities with approximately 10,000 units. Windsor, affiliated with The General Investment & Development Companies of Boston Massachusetts, pilot tested the LRO system extensively prior to its decision.
Shawn Mahoney, CIO of Windsor Communities, said, "Using state-of-the-art lease rent optimization technology is part of Windsor Communities' effort to increase investor profitability. We evaluated LRO's effectiveness with 'same store' pilot tests where six communities set lease rents using LRO, and six control communities used our managers' existing method for rate setting. The results were compelling enough for us to implement LRO across 40 communities." Windsor began rolling out revolution LRO in 4Q'08 and will have over 10,000 units using the system when its implementation is completed.
"Windsor will realize two benefit streams from LRO," Mahoney said. "The first is that LRO gives optimized price recommendations faster than our community managers usually price. And second, it provides an automated, standardized, and replicable process for each community and market for renewing lease rates and setting prices. It is the right tool for pricing." Mahoney noted that Windsor's community managers quickly adapted to rate setting with revolution LRO. "Once our teams were familiar with LRO they realized it gave them one more tool to increase their competitiveness." Windsor Communities is accessing the LRO system via the Internet with secure system hosting provided by Rainmaker at its SunGard network facility.
Bruce Barfield, president of The Rainmaker Group, said, "Windsor Communities is doing a great job of leveraging LRO's advanced rate optimization technology to help them sell their properties with more confidence based on a clear picture of what their comps and markets are doing. When managers rely on automated lease rent recommendations they are free to focus attention on selling their communities more effectively."
The revolution LRO system develops optimized pricing recommendations for dozens of unit types based on hundreds of factors that influence rate setting, including:
- Competitive influences and historical demand,
- Current and historical lease activity,
- Guest cards, lease duration,
- Move-in dates and other metrics.
Rainmaker's revolution LRO is the most widely installed multifamily revenue management system. It optimizes pricing for over 500,000 units and is delivering lease rent lifts of 3 to 5 percent for many of the largest companies.
About GID Investment Advisers LLC
The General Investment & Development Companies (GID) (http://www.generalinvestment.com),
founded in 1960, are privately-held, diversified companies with substantial interests in both residential apartment and other commercial real estate throughout the United States. GID is headquartered in Boston, Massachusetts, and its various affiliates operate nationwide. Over its 48-year history, GID has developed and acquired apartment, condominium, office, research & development and industrial properties. Today, GID and its affiliates' portfolios are invested in 17 states including over 11,000 apartment homes in 41 properties, 914,705 square feet of suburban office space in 6 office buildings and 3.0 million square feet of flex industrial space in fourteen business parks. Over the years, GID has developed and/or acquired over 40,000 apartment homes.
About Rainmaker Group
The Rainmaker Group is a software and services company that provides the revolution LRO profit optimization solution that enables multifamily housing operators to maximize revenue from apartment leases. revolution LRO is used by more than 60 percent of the companies deploying revenue management systems in the industry and, uniquely, LRO's lease/rent revenue optimization success has been verified by independent third party consulting firms. For more than six years revolution LRO has delivered optimized leasing rates to the largest operators in the industry including Archstone, Equity Residential, Post Properties, Laramar Group, Home Properties, Simpson Housing, Mid-America Apartment Communities, Carmel Partners and other leading multifamily housing companies.
The Rainmaker Group also provides revenue management for more than half a million units in the gaming hospitality industry. Rainmaker implements and supports the revolution product suite, which maximizes total property profitability for operators of casino hotels and other hospitality enterprises. The company enables clients to identify and maintain availability for their most profitable revenue sources through revenue management implementations. The Rainmaker Group helps casino hotels increase profitability through the accurate, instantaneous ability to determine the minimum acceptable value of each guest. This increases client profitability by securing the most profitable customers and developing more effective business processes. Hospitality clients include Boyd Gaming, Harrah's Entertainment, Omni Hotels, MGM MIRAGE, Trump Entertainment Resorts and other leading hotel companies.
The Rainmaker Group
Bruce Barfield, President
5755 North Point Parkway
Alpharetta, GA 30022
GID Investment Advisers LLC
GID Investment Advisers LLC
125 High St.
High St. Tower, 27th Floor
Boston, MA 02110
Julie Keyser-Squires, APR
180 River Springs Drive NW
Atlanta, GA 30328