Lincoln Property Company Proves Value of Automated Price Setting with 4.3% Lift in Challenging Rental Market
Automated Lease-Rent Pricing Solution Takes Guess Work, Emotion Out of Price Setting
Lincoln Property Company has a corporate culture of diligent pricing analysis and rate setting. “We are good at what we do but wanted to evaluate automated multifamily revenue management software tools and test the one we thought would be the best fit,” Wilder said. The company selected the LRO system, from The Rainmaker Group, which is widely used in the multifamily industry.
4.3% lift from LRO
“The surprise was the LRO recommendations caused our on-site and regional managers to engage more with their markets and the price-setting data and became more familiar with who their real competitors were and why they were gaining or losing leases,” said Wilder. “Our managers do a great job of rate setting, but the automated system is more detailed and looks at many more variables than you would think of including manually.”
Market-based pricing – minus emotion
Looking forward to market recovery
About Lincoln Property Company | Lincoln Property Company is one of the largest, most respected, diversified real estate services firms in the U.S and the only national firm to rank as a top 25 owner of office, industrial and multi-family real estate. Lincoln serves as owner/operator or full service management provider for more than 135,000 units (including its military group) and operates 350 conventional communities.
About The Rainmaker Group | The Rainmaker Group is a software and services company that provides the LRO profit optimization solution that enables multifamily housing operators to maximize revenue from apartment leases. LRO is used by more than 60 percent of the companies deploying revenue management systems in the industry and, uniquely, LRO’s lease/rent revenue optimization success has been verified by independent third party consulting firms. For more than six years LRO has delivered optimized leasing rates to the largest operators in the industry including Archstone, Equity Residential, Post Properties, Laramar Group, Home Properties, Simpson Housing, Mid-America Apartment Communities, Carmel Partners and other leading multifamily housing companies.
The Rainmaker Group also provides revenue management for more than half a million units in the gaming hospitality industry. Rainmaker implements and supports the revolution product suite, which maximizes total property profitability for operators of casino hotels and other hospitality enterprises. The company enables clients to identify and maintain availability for their most profitable revenue sources through revenue management implementations. The Rainmaker Group helps casino hotels increase profitability through the accurate, instantaneous ability to determine the minimum acceptable value of each guest. This increases client profitability by securing the most profitable customers and developing more effective business processes. Hospitality clients include Boyd Gaming, Omni Hotels, MGM MIRAGE, and Trump Entertainment Resorts.