Atlanta-based Rainmaker President Bruce Barfield, describes it as a "formal announcement of a relationship that has been in place for many years." Rainmaker specializes in automated revenue management software and services for the multifamily, casino gaming and hospitality industries. IRES, a division of Intuit Inc., provides real estate management, portfolio management and accounting software solutions to the global real estate industry. The agreement combines IRES's multifamily property management and Rainmaker's revolution LRO into a single common user system.
The synergy allows multifamily operators to transfer data automatically from Rainmaker's revolution LRO software to IRES's real estate management software. "For the IRES multifamily clients, the onsite operational staff can view the multidimensional pricing output of LRO within the IRES application without having to log onto another system. It greatly simplifies the use and adoption for all onsite IRES multifamily users," Rainmaker executives say.
Revolution LRO, for example, syncs with IRES' MRI Residential Management solution to make sure pricing and other outputs are based on the most current operating data. That eliminates the need to manually rekey information and reduces potential data entry errors, the companies report. It also enables the seamless exchange of data for "more efficient use of resources," the companies state.
Rainmaker executives say their profit optimization system has consistently produced revenue lift of 3% to 5.2% above a client's current pricing. For the past seven years, in up and down markets, Rainmaker's clients have validated these results internally by measuring across multiple property pairings over multiple periods.
The companies say they have a shared goal: to help multi-family housing operators maximize revenue from apartment leases. Rainmaker's revolution LRO uses mathematical modeling designed specifically for multi-family housing sector. It enables IRES clients to:
- Leverage high demand periods for increased lease/rents;
- Identify changing markets and recommend appropriate optimized rates;
- Provide discipline to the pricing process;
- Embed corporate strategy into pricing decisions;
- Drive pricing consistency and make optimized, uniform decisions '7 x 52';
- Implement optimized pricing compliance across all properties;
- Enhance market understanding.
Leading multifamily companies using both LRO and MRI include Archstone, Simpson Housing, Equity Residential, Post Properties, Mid America Apartment Communities, Home Properties, Julian LeCraw & Co., Babcock Brown Residential, General Investment & Development and Carmel Partners.
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