Statement from RealPage: The Real Story
18 Junio 2024 - 7:31AM
Business Wire
Company Addresses False Narrative Concerning
Revenue Management Software
RealPage, a leading global provider of software and data
analytics to the real estate industry, today issued a statement to
correct factual inaccuracies that have been reported related to its
revenue management software and its impact on renters.
Starting in October 2022, false and misleading claims about
RealPage and its revenue management software have been reported to
the media and in legal filings. These factual inaccuracies threaten
to undermine the essential benefits RealPage’s solutions provide to
both renters and housing providers. In fact, RealPage’s revenue
management software contributes to a healthier and more efficient
rental housing ecosystem.
“The time is now to address a number of false claims about
RealPage’s revenue management software, and how rental housing
providers operate when setting rent prices,” said Dana Jones,
RealPage CEO and President. “Housing affordability should be the
real focus. RealPage is proud of the role our customers play in
providing safe and affordable housing to millions of people.
Despite the noise, we will continue to innovate with confidence and
make sure our solutions continue to benefit residents and housing
providers, alike.”
Housing affordability is the real problem
Housing affordability, including the lack of affordable rental
housing, is a critically important national problem created by a
host of complex economic and political forces, including:
- persistent undersupply of rental housing units,
- increasing demand for rental housing in many areas of the
country,
- inflationary pressures that affect costs to build, insure and
manage housing properties,
- inefficient or unnecessarily onerous permit and zoning
requirements,
- higher mortgage rates and home prices driving more people to
rent rather than own their own homes, and
- changes in where and how people choose to live.
Setting the record straight
Here are the facts about RealPage’s revenue management software
solutions:
- RealPage revenue management software benefits both housing
providers and residents.
- RealPage customers:
- decide their own rent prices,
- always have 100% discretion to accept or reject software price
recommendations,
- are never punished for declining recommendations, and
- accept recommendations at widely varying rates that are far
lower than has been falsely alleged.
- RealPage revenue management software makes price
recommendations in all directions – up, down, or no change – to
align with property-specific objectives of the housing providers
using the software.
- RealPage revenue management software never recommends that a
customer withhold vacant units from the market. In fact, properties
using our revenue management products consistently achieve vacancy
rates below the national average.
- RealPage uses data responsibly, including limited aggregated
and anonymized nonpublic data where accuracy aids pro-competitive
uses.
- RealPage revenue management software serves a much smaller
portion of the rental market than has been falsely alleged.
RealPage revenue management software offers prospective
residents and housing providers more options and flexibility in
lease terms, aids compliance with Fair Housing laws, does not use
any personal or demographic data to generate rent price
recommendations, and helps ensure that prospective residents have
access to the best pricing available to everyone.
RealPage has developed a resource center to educate stakeholders
on the facts. Read more here:
https://www.realpagepublicpolicy.com
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 throughout
property operations, 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, 2023 and
2024, 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. In 2024, RealPage was
recognized as one of America’s Best Employers by Forbes and one of
America’s Greatest Workplaces for Women by Newsweek. 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
India, the Philippines, the UK and the U.S. For more information,
visit RealPage.
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version on businesswire.com: https://www.businesswire.com/news/home/20240617903089/en/
Jennifer Bowcock, SVP Communications & Creative for
RealPage, Inc. jennifer.bowcock@realpage.com / 408-768-8221