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Nation's Largest Third-Party Management Company Adopts Multifamily Industry's Leading Online Leasing Solution
Jul 19, 2007 (12:07 PM EDT)
SCOTTSDALE, Ariz., July 19 /PRNewswire/ -- The nation's largest third-party manager of multifamily real estate in the United States, Pinnacle, joins some of the nation's other leading apartment managers to adopt the multifamily industry's premier online leasing solution. VaultWare, an online leasing and reservation system from Realty DataTrust, will enable Pinnacle to process and manage online apartment reservations for specific available units and offer consumers the ability to check current availability and pre-screen online on Pinnacle's corporate and property websites and on the Internet Listing Services where they advertise. Additionally, VaultWare will automatically keep pricing up to date on all the Internet sites Pinnacle properties are listed and distribute Pinnacle's availability information to the most popular search engine classified sites. Other large Real Estate Investment Trusts (REITs) who use the VaultWare solution include UDR, Home Properties, Riverstone, Gables and Colonial to name a few.
According to Stan Harrelson, CPM, President and Chief Executive Officer of Pinnacle, "There's no question that customers are online and the trend is only increasing. VaultWare unlocks the Internet's potential for capturing renters online and that is an enormous opportunity just waiting for us. We've conducted an in-depth analysis of solutions and we have no doubt that VaultWare is the best way to power the online leasing component of our business. Plus, with VaultWare we knew we could be up and running within just a few weeks, without delays and without intense IT involvement, and as a customer-service focused organization that was important to us."
"Online leasing was once a novel idea ... something management companies weren't sure they should explore. Now they know they must implement it and VaultWare has become the proven, established and essential business tool for multifamily companies who are serious about increasing their business," Mike Mueller, CEO Realty DataTrust said. "We're thrilled to be providing Pinnacle with this functionality. Their company culture is wrapped around the concept of superior customer service and online leasing is one of the best ways to demonstrate this commitment."
VaultWare provides online leasing capabilities to over 700,000 apartment units throughout the United States, from small property managements companies to some of the country's largest REITs. VaultWare's appeal is that it can be implemented within a relatively short amount of time and with minimal effort allowing property managers to see results almost immediately with online apartment reservations, pre-qualified leads and rental applications for available apartments electronically delivered instantly to properties.
Pinnacle is the national leader in third-party fee management of investment real estate, managing a portfolio of more than 780 apartment, office, industrial and retail assets valued at more than $12.3 billion. The company's portfolio includes approximately 140,000 multifamily housing units and 16.7 million square feet of commercial space. Pinnacle is also a recognized leader in affordable housing management with approximately 55,000 units under management and is active in the privatization of military housing. As a full-service real estate investment management firm, Pinnacle provides both multifamily residential and commercial real estate owners and investors with a broad scope of realty services, including the acquisition, disposition, rehabilitation, property management, financing and repositioning of real estate assets.
About Realty DataTrust Corporation
Realty DataTrust Corporation, located in Scottsdale, Ariz., offers online leasing solutions for the multifamily housing industry that allow consumers to easily rent an apartment online. The award-winning VaultWare(TM) solution revolutionized the industry when it was introduced in 2003, fulfilling a need no other service could provide by automatically displaying current rates, true availability and up-to-date promotions on demand 24 hours per day, 7 days per week from multiple websites. Today, 100 management companies use VaultWare and each month tens of thousands of requests are processed through its reservation system. In 2005 the company took the lead in spearheading an initiative to educate the multifamily industry on Internet trends and related technology breakthroughs by hosting the first annual Apartment Internet Marketing Conference. To learn more about VaultWare, Realty DataTrust or Apartment Internet Marketing, visit the company's website: http://www.vaultware.com .
CONTACT: Gina Kilker of Realty DataTrust Corporation, +1-480-776-5354, firstname.lastname@example.org
Web site: http://www.realtydatatrust.com/