Cardinal Group Partners with Real Page for Revenue Management Software
DENVER, CO — November 9, 2021 — Cardinal Group Companies has partnered with RealPage to implement RealPage Revenue Management across a portion of Cardinal’s student housing portfolio.
RealPage Revenue Management leverages real-time lease-transaction data and monitors price shifts daily, providing greater precision for optimum pricing.
This solution gives owners and managers the advantage of a more sophisticated, statistical approach to managing supply and demand. The RealPage solution provides transparency into community performance at a floor plan level compared to historical performance and expected demand. For Cardinal, as operators, having access to data to support recommendations provides more confidence in likelihood of success for our leasing teams.
“Revenue management tools are still very limited in the student housing space. We see this as an opportunity to deploy a tool combined with our innovative marketing approach and proprietary Business Intelligence tools to build additional value for our owners,” said Jennifer Cassidy, SVP Student Housing Operations, Cardinal Group Companies.
“Cardinal continues to stay ahead of the curve,” said Amy Dreyfuss, SVP, RealPage Revenue Management, “Our AI-driven algorithms facilitate the balancing of supply and demand, even in the most aggressive market conditions, driving increased revenues within their investment strategy. We look forward to a long-lasting partnership that yields ongoing, measurable results for Cardinal.”
The enhancement of technology in real estate is allowing operators to better understand what drives decision-making for both prospects and residents. It is critical to understand which marketing efforts drive actual leases as opposed to general brand awareness. Technologies like RealPage Revenue Management allow the management team to spend dollars more wisely.
“Cardinal Group is an established leader in the Student Housing industry, and they continue to innovate as an early adopter of Revenue Management and internalizing pricing advisory services,” added Kevin Jones, V.P. of Student Market at RealPage. “The RealPage Student team is looking forward to expanding our relationship with Cardinal and continuing to provide innovative solutions that drive operational efficiencies and asset performance for our valued customers.”
Cardinal will begin to introduce RealPage Revenue Management across a portion of the student portfolio this quarter, with plans to expand to additional communities in 2022.
About Cardinal Group Companies
Cardinal Group Companies (“CGC”) is a fully integrated real estate management, investment, construction, consulting, and marketing firm focused on multifamily and student housing throughout the country. Headquartered in Denver, Colorado, CGC affiliate companies are all firmly built atop the company’s “Cardinal Culture.” Since 2007, CGC has been operating successful partnerships, focused on creating efficiency and above market performance via their commitment to challenging the status quo of the industry. To date, Cardinal Group Companies has developed several best-in-class initiatives, which have earned the company national recognition year after year. Cardinal Group Companies’ management platform oversees over 40,000 units nationwide including 11,000 conventional and affordable housing units and 83,000 student housing beds across the U.S., including Cardinal Group Companies’ owned portfolio and third-party managed properties.
To learn more about Cardinal Group Companies, please visit www.CardinalGroup.com.
RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency in asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves over 19 million units worldwide from offices in North America, Europe, and Asia. For more information, visit RealPage.com.