ATLANTA, GA - The Rainmaker Group, the world leader in automated revenue management software and services to the multifamily housing industry for total property profitability, announced seven operators recently selected the LRO lease rent options system. The new implementations across a wide range of communities send a clear message that the industry is increasing its reliance on rent optimization technology in the current economic climate. Rainmaker's LRO is the most widely installed multifamily housing revenue management system with a total of 29 companies using the system to optimize lease-rents.
Multifamily companies implementing and pilot testing Rainmaker LRO include: Apogee New Dawn, BH Management Services, Centennial Holdings, Continental Properties, The JBG Companies, Korman Residential and Weidner Investment Services.
"Rainmaker has proven that LRO is a valuable tool for optimizing rents in both up and down economies," said Bruce Barfield, president of The Rainmaker Group. "This is the second down market for many LRO users, and operators today continue to have confidence that automated pricing software produces optimal prices based on all the variables under review." Barfield underlined that state-of-the-art lease-rent optimization technology is essential to optimize revenue in every economic climate. "As we implement LRO for new clients, our team provides a wide range of valuable insights gained from over eight years of experience installing multifamily revenue management. This is Rainmaker's area of specialization, and it enables our users, and the industry, to be more successful."
Rainmaker's LRO optimizes pricing for over 500,000 multifamily housing units and delivers rent lifts of 3 to 5 percent for many of the largest companies.
"LRO is a true 'revenue-optimized' model focused more on maximizing rental income rather than just occupancy," said Steve Donohue, president for BH Management Services, Inc. "We did an evaluation of the other provider and determined that its model generated more occupancy but didn't generate the rent growth we would have expected, thus the reason for BH choosing LRO as our preferred provider for yield management."
The 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 and Move-in dates and other metrics.
The system also produces accurate enterprise-wide demand forecasts by measuring and analyzing thousands of historical and current market metrics and performing calculations necessary for occupancy predictions and across dozens of unit types, offering dynamically updated rate recommendations as market conditions change.
Source: The Rainmaker Group