Carmel Partners Selects LRO Revenue Optimization Solution for 57 Communities

By Anuradha Kher, Online News EditorSan Francisco–The Rainmaker Group, maker of automated revenue management software and services for the multifamily housing and gaming hospitality industries for property profitability, has recently announced that Carmel Partners, with over 19,000 units, will implement the LRO (Lease Rent Options) multifamily housing revenue optimization solution after a successful 12-month pilot…

By Anuradha Kher, Online News EditorSan Francisco–The Rainmaker Group, maker of automated revenue management software and services for the multifamily housing and gaming hospitality industries for property profitability, has recently announced that Carmel Partners, with over 19,000 units, will implement the LRO (Lease Rent Options) multifamily housing revenue optimization solution after a successful 12-month pilot test in eight communities. The communities that used LRO in the pilot saw a 3.55 percent increase in revenue billed per unit (RBPU) over non-LRO Carmel Partners communities in the same markets with similar occupancy and exposure. “LRO creates a centralized pricing discipline that improves revenue,” says Don Campbell, Carmel’s managing partner and COO. “It is consistent with our philosophy to standardize and centralize as many processes as possible. This allows our community teams to focus on what they do best, which means providing top customer service and maximizing the operating potential of our apartment communities.” Carmel Partners conducted the pilot from June 2007 to July 2008 at six communities in the Denver region, with a total of 2,166 units, and two California communities, with a total of 414 units. Carmel will roll out LRO across 57 communities, totaling nearly 14,500 units in late 2008.