LRO Customers Gain Even Greater Access to Best Practices from Dedicated Revenue Management Experts
ATLANTA, GA – February 29, 2012 – The Rainmaker Group, the leading provider of revenue management and profit optimization solutions to the multifamily housing and gaming/hospitality industries, announces the expansion of its pricing advisory services. The service, which launched in 2011 and is available to all clients, extends Rainmaker’s stellar business consultation beyond the implementation process by partnering a dedicated Rainmaker LRO team member with each client to act as a long-term advisor on pricing recommendations and overall revenue management strategies.
Rainmaker is committed to enabling owners/operators of any size to benefit from revenue management methodologies and as more companies embrace this strategy, the pricing advisory services we provide to clients have taken a much larger role, said Andrew Rains, executive vice president of LRO. Not every company is positioned to manage the process in-house from a business perspective or staffing standpoint and this is where our pricing advisory services fit best. By partnering those clients with a dedicated Rainmaker expert pricing advisor, we ensure every customer has the tools and human resources to achieve their revenue management goals.
Rainmaker’s pricing advisors conduct and manage weekly pricing calls with on-site leasing personnel, regional managers and company executives to review individual market strategies and pricing tactics as well as address any of the client’s concerns and execute actual pricing adjustments to enhance NOI. Rainmaker clients are assigned a full-time pricing advisor who is closely entrenched in the portfolio’s current pricing strategies and goals. This intimate knowledge and understanding enables the pricing advisor to provide best practices, deliver the most strategic pricing recommendations as well as help predict future pricing trends.
To hire someone on staff as a pricing manager, we felt there wouldn’t be a shared conversation between that person and the on-site staff. The Rainmaker team is better equipped to help manage our pricing in the first few years of our LRO engagement, maybe even permanently, because they have done it start to finish, said Mike Beirne, executive vice president for Kamson, a real estate management and development company that owns and manages 90 communities comprised of more than 16,000 units in the Northeast. Currently LRO is operational at 17 Kamson communities. When our LRO pricing advisor gets on the phone I know she isn’t thinking about anything else but our pricing models. Rainmaker provides that continual objective look at what our organization is doing in terms of pricing which makes me feel much more comfortable. Working with an objective partner is sometimes better than trying to do it yourself.
Barney Pullam, vice president, business process for Waterton Residential, who utilized the pricing advisory services during a six-month period while transitioning to a new internal pricing manager, further explains the benefits of the offering. The Rainmaker Pricing Advisory Services team is built with professionals who have a strong working knowledge of LRO and revenue management and also have invaluable familiarity with our industry. With this knowledge, they hit the ground running and start improving a community’s pricing strategies to reach your revenue goals. On numerous occasions the Rainmaker team has been very accommodating and willing to help our team. It just goes to show that at Rainmaker, customer service is the number one focus. The pricing advisory services are just another extension of that.
Georgie Gaalema, business consultant for Rainmaker, serves as leader for the pricing advisory team. Her 18 years of experience in both property management/operations and revenue management uniquely positions her to provide an in-depth, expert perspective to the clients utilizing the service. Based on my lengthy career in property management, I understand what challenges on-site leasing professionals are facing. I know how quickly the market changes and why it is important to keep your revenue management strategies in check, she explains. Our goal is to provide that collaborative environment for everyone – leasing professional through executives – to discuss the 4p’s of revenue management [people, pricing, promotion and product] and to provide full circle service.
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 effects 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 Kamson Corporation
The Kamson Corporation is the Northeast’s premier apartment management organization. Based in Englewood Cliffs, New Jersey, Kamson owns and manages 90 properties comprising more than 16,000 rental units in New Jersey, New York, Connecticut and Pennsylvania. The Kamson Corporation is dedicated to provide high-quality, affordable living to see that every resident is comfortable and satisfied in their new home. For more information, please visit www.kamson.net.
About Waterton Residential
Waterton Residential, one of the leading multifamily companies in the nation, is focused on the acquisition and management of apartment communities in multiple markets. Since its inception in 1998, the Waterton Residential team has remained committed to outstanding customer service by providing a community our residents are proud to call home. With over 17,000 apartment homes in 42 communities in 11 states the Waterton Residential brand signifies exceptional living experiences, a sense of community, and home. Waterton employs approximately 480 associates who are committed to achieving the Waterton Residential vision – to be the leader in the multifamily industry. For more information, visit www.watertonresidential.com.