Phoenix-based multifamily property manager looks to eliminate concessions, gain additional fee-management clients with Rainmaker LRO
ATLANTA, GA – June 26, 2012 – The Rainmaker Group, the leading provider of revenue management and profit optimization solutions to the multifamily housing and gaming/hospitality industries, announces the adoption of its multifamily revenue management platform, LRO, by Phoenix-based property management firm The P.B. Bell Companies, which currently manages a portfolio of 5,200 units as one of the premier locally owned and operated property managers in Arizona.
P.B. Bell recently completed an initial roll-out of LRO to a portion of their portfolio. Initial successes have prompted the firm to immediately extend LRO to additional properties, with an ultimate goal of engaging more of their owner clients to use the revenue management system by 2013.
According to P.B. Bell president and designated broker Debbie Willis, LRO has performed exactly as promised in eliminating concessions and boosting site-level pricing confidence in Arizona markets that have seen widely volatile swings in rent fundamentals. LRO is building the confidence in our managers that they have not had in a really long time, Willis said. Our market has been so concession driven for so long, it is difficult for leasing teams to become aggressive. LRO helps to remove that emotional dependency and we’re seeing great success.
As the use of revenue management becomes an operational norm within the multifamily industry, P.B. Bell expects its affiliation with LRO will help the firm gain more clients in the tightly contested Arizona property management space. LRO‘s capabilities are really pretty easy to sell and will definitely play into our competitive advantage in getting new business, Willis said, pointing to the streamlined LRO implementation process that produces buy-in from site-level leasing professionals, immediate rent premiums over market comps, and the use of optimized forecasting technologies over rules-based human data-entry programming.
The Rainmaker Group is proud to welcome the progressive ambition and foresight of property management firms such as P.B. Bell who recognize the ultimate value of the LRO revenue management platform to their apartment owner clients, said Andrew Rains, executive vice president of Rainmaker LRO. We anticipate great success as P.B. Bell rolls the system out to more of their portfolio and are eager to see the pace of adoption among their clients.
Rainmaker LRO is the leading multifamily lease rate optimization solution used to maximize revenue from apartment leases. The system calculates optimized pricing based on multiple factors that influence rate setting, including traffic and lease duration, move-in dates, competitive affects 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.