Four Multi-Family Housing Operators Select Rainmaker

Revenue Management specialist, Rainmaker, tapped for lease/rent rate lift programs by REITs and inde

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. October 14, 2008

ATLANTA, GA, August 15, 2007. The Rainmaker Group, the world leader in automated revenue management software and services to the multi-family housing and other industries for total property profitability, announced that Laramar Group, Julian LeCraw Company, Carmel Partners and an additional REIT, with over 82,000 combined units, are conducting pilot installations of Rainmaker's revolution LRO SM revenue optimization system. Rainmaker pilot installations enable multi-family operators to certify the effectiveness of the revolution LRO revenue management system across a sample of their properties before installation throughout their entire portfolio.

Bruce Barfield, president of The Rainmaker Group, Inc., said, "The multi-family housing companies conducting current LRO pilot tests utilize several different property management systems (PMS) including Intuit MRI, Realeum and Yardi: revolution LRO delivers optimized lease/rent rates equally well with all of them. Optimal pricing is essential to success in the multi-family housing industry, and because Rainmaker is a revenue management specialist, it can work with systems from every major PMS company to boost rates. revolution LRO is used by more than 60 percent of the companies deploying revenue management systems in the multifamily industry today because it consistently delivers increased lease rent revenues." Barfield added that many leading multifamily firms credit revolution LRO with a lift of three to five percent, which is very attractive to multifamily owners and REIT investors.

For Rainmaker pilot testing, a multi-family housing company selects six to eight properties in different markets to set rates with the revolution LRO revenue management system. A control group of similar properties that sets rates set by traditional methods is also monitored and the two property groups are run side by side. At the end of the testing period, lease/rent performance and total revenue for each property group is analyzed to verify the impact of the LRO system. The customary testing period is six months, but may be shorter. Post Properties completed its Rainmaker trial in just a few weeks after the pilot demonstrated conclusive lease/rent revenue improvement. Post installed the revolution LRO system in mid-2006 throughout its portfolio.

The revolution LRO system has been in use at multi-family housing companies in excess of five years, and its lease/rent revenue optimization success is verified by independent third party consulting firms. The Rainmaker Group, Inc., an independent technology solutions and services provider whose expertise is focused on revenue management solutions, acquired rights to develop, implement and support the revolution LRO system in 2006. Current LRO clients include Simpson Housing, Equity Residential, Home Properties, Archstone-Smith, Mid-America Apartment Communities and other companies.