The hard data on LRO’s rate-setting success won over even skeptical owners.
Atlanta, GA (PRWEB) June 21, 2011
The Rainmaker Group announced today that stellar results from a 1,086-unit implementation of the Rainmaker LRO™ multifamily revenue management system prompted Allison-Shelton Real Estate Services to initiate the process of offering owners of all its properties the opportunity to implement LRO. Allison-Shelton is one of the country’s most rapidly growing third-party leasing and management firms focused on multifamily real estate. The Rainmaker Group is the leading provider of automated revenue management software and services to the multifamily housing and gaming/hospitality industries. Click here for more information on Rainmaker’s profit optimization products.
Allison-Shelton implemented LRO at five Arizona sites across four ownership groups “to get the best cross section of results and owner feedback,” explained Vicki Allison, a principal with the firm. Allison-Shelton currently operates 11,000 units in Arizona, New Mexico, and Texas. Results were so positive that the company would like to roll out LRO over the next twelve months to an additional 20-25 properties covering 6,000-8,000 units.
LRO rate-setting analysis based on market metrics won over skeptics
“The hard data on LRO’s rate-setting success won over even skeptical owners," said Allison. “For example, the property managers at one community were enthusiastic about automatic rate-setting, while the owner’s asset manager was a bit skeptical. When his managers informed him that they successfully leased units at higher rates than ever before with LRO, he became—in his own words—‘a believer.’”
One of the company’s numbers-oriented owners agreed to have two properties participate in Allison-Shelton’s LRO pilot when he learned that the system bases its prices and specials on mathematical analysis, not emotions. Ms. Allison said when LRO’s April figures showed the highest monthly revenues in the previous two years, “he asked us to put two more of his properties on the system.”
LRO is the leading multifamily lease rate optimization solution used to maximize revenue from apartment leases. The system calculates optimized pricing based on hundreds of factors that influence rate setting, including traffic and lease duration, move-in dates, competitive influences, 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.
About Allison-Shelton Real Estate Services
Allison-Shelton currently manages apartment homes throughout the state of Arizona including Metro Phoenix and Tucson, as well Albuquerque, and the Dallas (DFW) metroplex. The company is an Accredited Management Organization® (AMO) and member of the Institute of Real Estate Management (IREM). Allison-Shelton Real Estate Services currently employs approximately 275 people and manage over $1 billion worth of real estate investments. http://www.allison-shelton.com/
The Rainmaker Group – a Microsoft Silver Partner software and services company – is an industry-leading provider of revenue management and profit optimization solutions to owners/operators in 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. Rainmaker software delivers real results for operators such as Archstone, AvalonBay Communities, Equity Residential, Post Properties, Simpson Housing, Mid-America Apartment Communities and a number of other leading companies. Gaming/Hospitality clients include leading casino/hotel organizations such as Atlantis The Palm Dubai, Caesars Entertainment, IP Casino Resort Biloxi, Isle of Capri Casinos, MGM Resorts International, Omni Hotels & Resorts, Wynn Las Vegas and many others. Headquartered in northern Atlanta, GA, Rainmaker is a solid, profitable, rapidly growing, privately held company. For more information, go to http://www.LetItRain.com.