RealPage Accelerates the Pace of Innovation for Multifamily with Market-Leading AI-Enabled Front Office Suite

Rhea-AI Summary

RealPage - Significant Growth in Front Office Innovation and Customer Outcomes

Positive

• RealPage has achieved over 50% growth in units under management since 2022, demonstrating significant momentum in Front Office innovation and customer outcomes.
• The company has introduced three new products and significant integrations across the RealPage portfolio, enabling flexible operating models, frictionless experiences for staff and residents, and deeper insights that drive significant scale and productivity.

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• None.

With more than 50% growth in units under management since 2022, RealPage is helping customers streamline the prospect-to-resident experience while improving efficiency for their marketing, leasing and operations

RICHARDSON, Texas--(BUSINESS WIRE)-- RealPage today announced significant achievements in Front Office innovation since acquiring leading multifamily CRM Knock in 2022, advancing the impact and value of its AI-enabled suite of solutions and helping its customers drive efficiency and improve net operating income (NOI).

RealPage Front Office Suite Momentum (Graphic: Business Wire)

"RealPage is exceeding customer expectations with Front Office innovation, helping them attract, convert and retain residents and maximize staff efficiency," said Dana Jones, RealPage CEO & President. “Since the Knock acquisition, we have been disciplined in our investments and our roadmap execution. We have hit all key milestones and are well on our way to realizing our vision of an integrated, AI-enabled front office experience for our customers and their residents.”

Three New Products and Integrations Across RealPage Portfolio

In the last 12 months, RealPage has been innovating in the Front Office by launching three new products and significant integration across the RealPage portfolio enabling flexible operating models, frictionless experiences for staff and residents and deeper insights that drive significant scale and productivity.

Using the RealPage Front Office suite, the leasing process is integrated, frictionless and efficient for both residents and site staff. The newly-added AI capabilities and features enable customers to:

• Nurture the prospect through the leasing journey with omnichannel AI and follow applicant progress through the online application progress in Knock
• Operate on site or remotely, supporting multiple properties leveraging RealPage innovations like 360 Guest Card lead referral
• Drive more qualified leads through the leasing process, delivering greater NOI through the Front Office integration with Demand^X
• Proactively nurture inactive leads/prospects to improve lease conversion

Additional momentum from Front Office innovations is supporting improved customer outcomes in meeting marketing and leasing KPIs:

• 300% more qualified leads with AI call scoring
• 64% lower cost per call and form lead
• 22% increase in tours scheduled in the first 30 days for AI voice customers

“Our customers are more efficient and gain full visibility throughout the leasing journey in one robust CRM,” said RealPage SVP & GM of Front Office Solutions, Josh Albrechtsen. “The Front Office suite has integrated our specialized leasing solutions and resident communications engine to deliver a true end-to-end solution for leasing agents to manage the entire prospect-to-renter journey.”

Multifamily Operators Gain Productivity with RealPage Front Office Innovations

With more than 50% growth in units under management since 2022, RealPage is helping customers streamline the prospect and resident experience while improving efficiency for their marketing, leasing and operations. RealPage Front Office works with both RealPage and third-party property management systems (PMS).

“RealPage’s tour solutions enable our leasing consultants to focus on a prospect’s needs instead of spending time pre-qualifying them, which has helped raise our closing ratio to 40 percent,” said Pauline Houchins of First Communities.

“Centralized leasing is capturing the traffic overflow that our on-site teams cannot – I would say about 30% of that traffic is actually gathered and closed before they even come into the office," said Jennifer Staciokas of Western Wealth.

“Efficiency is extremely important to RAM Partners this year as we are all trying to do more with less. Using AI in our leasing ensures that our prospects have the availability to get information after hours and book their appointments online, at their convenience,” said Bevan White of RAM Partners, LLC.

Join us today at 1:00 p.m. CT for RealPage Innovation Day: Realize the Front Office to learn more about the Front Office suite of solutions that drive NOI and asset value across multifamily asset types.

About RealPage, Inc.

RealPage is the leading global provider of AI-enabled software platforms to the real estate industry. By using RealPage solutions for operational excellence in the front office and back office, many leading property owners, operators and investors gain transparency into asset performance with data insights, enhancing experiences with customized tools and improving efficiencies to generate incremental yield. In 2021, 2022 and 2023, RealPage was recognized as ENERGY STAR^® Partner of the Year for Sustained Excellence from the Environmental Protection Agency (EPA) and the U.S. Department of Energy. Founded in 1998 and headquartered in Richardson, Texas, RealPage joined the Thoma Bravo portfolio of market-leading enterprise software firms in 2021 to realize faster growth and innovation in serving more than 24 million rental units from offices in North America, Europe and Asia. RealPage has been certified as a Great Place to Work™ in Colombia, India, the Philippines, the UK and the U.S. For more information, visit https://www.RealPage.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231115067068/en/

Jennifer Bowcock

Senior Vice President Communications & Creative, RealPage

Jennifer.bowcock@realpage.com

408-768-8221

Source: RealPage, Inc.

FAQ

What is RealPage's achievement in Front Office innovation since acquiring Knock in 2022?

RealPage has achieved over 50% growth in units under management since 2022, demonstrating significant momentum in Front Office innovation and customer outcomes.

What new products and integrations has RealPage launched in the last 12 months?

RealPage has launched three new products and significant integrations across the RealPage portfolio, enabling flexible operating models, frictionless experiences for staff and residents, and deeper insights that drive significant scale and productivity.

How has RealPage's Front Office suite improved customer outcomes in meeting marketing and leasing KPIs?

RealPage's Front Office suite has supported improved customer outcomes by delivering 300% more qualified leads with AI call scoring, 64% lower cost per call and form lead, and a 22% increase in tours scheduled in the first 30 days for AI voice customers.