(August 19, 2010)—YieldStar (www.yieldstar.com), a leading provider of revenue management systems for the multifamily industry and a division of RealPage, Inc., (www.realpage.com), today announces that Pinnacle selected YieldStar® Price Optimizer for revenue management.
“The multifamily industry is clearly embracing revenue management. We wanted to determine the kinds of returns we could achieve with this technology.” said Rick Graf, president of Pinnacle.
Pinnacle chose Price Optimizer after a thorough review of available revenue management solutions and the successful completion of a six-month evaluation program on 11 properties.
“We didn’t feel right recommending a revenue management system to our clients without first putting it through its paces on our own properties,” added Graf. “The revenue premiums that Price Optimizer can produce are a powerful tool for us and for our clients.”
“We achieved better than expected results,” continued Graf. “It was exciting to see an average revenue outperformance of three percent across the properties. We were pleased with the impact YieldStar had on both our rents and our occupancies.”
As the largest apartment fee management company in the multifamily industry, according to the 2010 NMHC 50 report, Pinnacle is excited to add revenue management to its core service offering, and is in the process of implementing Price Optimizer on additional properties within its owned portfolio as well as for its fee clients around the country.
For more information about YieldStar Price Optimizer, or to schedule an interview with a YieldStar executive, please contact Michael Cunningham at firstname.lastname@example.org or 972.820.3409.
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides on-demand (also referred to as “Software-as-a-Service” or “SaaS”) products and services to apartment communities and single family rentals across the United States. Its six on-demand product lines include OneSite® property management systems that automate the leasing, renting, management, and accounting of conventional, affordable, tax credit, student living, and military housing properties; CrossFire® sales and marketing systems that boost occupancy and build retention; YieldStar® asset optimization systems that increase asset valuation and investment return; Velocity™ billing & utility management services that increase collections and reduce delinquencies; LeasingDesk® risk mitigation systems that reduce a community’s exposure to risk and liability; and OpsTechnology™ spend management systems that help owners manage and reduce operating expenses. Supporting this family of SaaS products is a suite of shared cloud services including electronic payments, document management, decision support and learning. Through its Propertyware subsidiary, RealPage also provides software and services to single-family rentals and low density, centrally-managed multifamily housing. RealPage offers Platform-as-a-Service through its RealExchange platform which provides a comprehensive toolkit of integration services for third-party application providers. Finally, RealPage now offers Infrastructure-as-a-Service to multifamily owners and operators to reduce IT costs and improve integration performance and reliability. For more information, call 1-87-REALPAGE or visit www.realpage.com.
Pinnacle, An American Management Services Company, is the nation’s leader in multifamily property management, managing a portfolio of apartment, office and industrial assets valued at more than $18 billion, with over 5,000 employees in 42 states. Pinnacle’s multifamily portfolio consists of over 185,000 units. For more information, visit PinnacleAMS.com.