RealPage® Announces Launch of Prelease Management for Student Living
Feb 28, 2013
Part of the RealPage OneSite leasing solution, Prelease Management provides student housing operators with the real-time prelease performance reporting that drives results
CARROLLTON, Texas (February 25, 2013) — RealPage, Inc. (NASDAQ: RP), today announced the launch of Prelease Management, a performance reporting tool for RealPage Student Living. Prelease Management automates the goal setting and reporting activity for student housing owners and operators, accelerating the management and decision making process with real-time prelease performance reporting.
As anyone in the industry will attest, managing student housing is not without its own unique challenges. Operators of student housing properties have to re-lease the majority of their assets on an annual basis, and in a very short period of time. Setting goals for that narrow window and monitoring progress against them is an ongoing preoccupation for student housing property owners and managers. With RealPage’s Prelease Management solution, student housing owners and operators can now run real-time goal performance reporting on crucial key performance indicators (KPI), including future occupancy, traffic, floor plan leases, renewals, and unit leases.
“Student housing has some of the most demanding operational needs in the multifamily industry,” explained Dave McKenna, vice president of Student Living at RealPage. “The ability to effectively manage the prelease cycle and the annual turn is the defining characteristic of a successful student housing operator. The automation RealPage now offers in Prelease Management will provide our clients the ability to compete more effectively in this hyper-competitive space.”
Through RealPage’s exclusive Student Goal Set Calculator, student housing clients can now automatically establish future occupancy based on traffic, leasing and renewal assumptions. Goals for each leasing season are then summarized and managed in a concise user portal, and as new information is gathered, revised goals can be set and managed.
“We see this sort of process automation and management reporting that RealPage is bringing to the market with Prelease Management as essential to our continued growth strategy,” said Bob Clark, president of Peak Campus. “We’ve worked closely with RealPage in developing this new capability here at Peak, and we’re looking forward to its evolution as an indispensible student housing tool.”
RealPage Student Living is part of the OneSite product solution, RealPage’s flagship on demand property management system for the multifamily industry. Integrating seamlessly with LeasingDesk Screening, RealPage Contact Center, YieldStar and Velocity, RealPage Student Living delivers exceptional results to student housing property owners and managers.
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 on demand product lines include OneSite® property management systems that automate the leasing, renting, management, and accounting of conventional, affordable, tax credit, student living, senior living and military housing properties; LeaseStar™ multichannel managed marketing that enables owners to originate, syndicate, manage and capture leads more effectively and at less overall cost; YieldStar® asset optimization systems that enable owners and managers to optimize rents to achieve the overall highest yield, or combination of rent and occupancy, at each property; Velocity™ billing and utility management services that increase collections and reduce delinquencies; LeasingDesk® risk mitigation systems that are designed to reduce a community's exposure to risk and liability; OpsTechnology® spend management systems that help owners manage and control operating expenses; and Compliance Depot™ vendor management and qualification services to assist a community in managing its compliance vendor program. Supporting this family of SaaS products is a suite of shared cloud services including electronic payments, document management, decision support and learning. RealPage's MyNewPlace® subsidiary is one of the largest lead generation apartment and home rental websites, offering apartment owners and managers qualified, prospective residents through subscription, pay-per-lead and LeaseMatch pay-per-lease programs. Through its Propertyware subsidiary, RealPage also provides software and services to single-family rentals and low density, centrally-managed multifamily housing. For more information, call 1-87-REALPAGE or visit www.realpage.com.