Product Overview of RealPage
RealPage is a comprehensive, cloud-based property management solution designed to cater to the needs of real estate owners and managers of various property types, including conventional, affordable, military, student, single-family, senior, vacation, and commercial properties.
What RealPage Does
RealPage provides a robust technology platform that streamlines and automates various aspects of property management, enabling users to gain transparency into asset performance, leverage data insights, and optimize property operations to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage serves over 24 million units worldwide.
Key Features and Functionality
Property Management
RealPage automates the leasing, renting, and management of properties. Key features include:
- Leasing and Marketing: Streamline the leasing process by tracking leads, scheduling showings, and managing lease agreements. The software also offers powerful marketing tools to create listings, manage online advertisements, and track the performance of marketing campaigns.
- Tenant Screening: Conduct advanced background checks, including credit history reports and criminal record checks, to ensure reliable tenant selection.
Building Operations
- Maintenance Service Requests: Coordinate emergency and preventative work orders, track maintenance requests, and manage vendor relationships. Tenants can submit maintenance requests online, and property managers can assign tasks and track progress.
- Property Inspections: Use and configure inspection templates for recurring and on-demand inspections.
- Service Portals: Provide resident portals for submitting maintenance requests, making payments, and accessing other resident services. Owner portals offer access to property financial information.
Accounting and Financial Management
- Property Accounting: Track tenant payment histories, manage accounts payable/receivable, and automatically reconcile bank accounts. The software also supports online payments through various methods, including credit cards and checks.
- Company Financials: Monitor and report on key property and building financial metrics. Create budgets and forecasts based on historical data and market trends, and generate detailed financial reports.
Additional Features
- Document Management: Organize and store electronic records and other digital compliance documents. Automate service requests and manage asset conditions.
- Resident Services: Enhance resident satisfaction with features like online billing and payments, package notifications, and maintenance request tracking.
- Revenue Management: Optimize rents to achieve the highest yield or combination of rent and occupancy at each property.
- Spend Management: Simplify purchasing, invoicing, and vendor management.
- Utility Management: Increase collections and reduce delinquencies.
- Renters Insurance: Eliminate losses on renter-caused damage and create new revenue streams.
Integration and Support
- Platform-as-a-Service: RealPage Exchange offers a comprehensive toolkit of integration services for third-party application providers, reducing IT costs and improving integration performance and reliability.
- Comprehensive Client Support: Includes electronic payments, document management, decision support, and learning resources to support the suite of SaaS products.
RealPage’s integrated platform ensures that all aspects of property management, from leasing and marketing to financial management and maintenance, are centralized and efficiently managed, making it an all-in-one solution for real estate owners and managers.