Affordable Housing Giant to Deploy RealPage Solutions Across Entire Portfolio.
(February 23, 2015) — Interstate Realty Management Company, the second largest operator of affordable and mixed-income communities in the United States according to the 2014 NAHMA Affordable 100, has selected RealPage, Inc. (NASDAQ:RP) as its technology partner. The company will deploy most of RealPage’s on-demand solutions across its 343 sites, which represents 31,856 units.
“We wanted to move off of our current, internally-developed system to a fully-integrated solution,” said Mark Morgan, president of lnterstate. In the summer of 2014, IRM conducted a pilot with RealPage on 23 of its sites before making the decision to deploy across all of its sites by end of 2015. “Our experience with several RealPage products during the pilot, coupled with its end-to-end integrated solutions and unique offering for affordable housing, made RealPage the compelling choice for our company,” said Morgan. “Our partnership will enable us to dramatically reduce technology costs as compared to the expense associated with supporting our own internal system. In addition, RealPage meets all of our compliance needs, which is critical to us with the ever-changing regulations in the affordable housing industry.”
“We are fortunate to be expanding our partnership with Interstate Realty,” said Gustavo Sapiurka, senior vice president, RealPage. “We look forward to delivering a seamless transition onto our industry leading platform. The ability for Interstate to manage its complete operation on one integrated platform will not only increase efficiency and work to ensure regulatory compliance, but will drive opportunity for improved NOI.”
Interstate will be deploying the vast majority of RealPage solutions, including the affordable property management suite, accounting and budgeting, facilities, spend management, resident screening, payments and resident portals, and business intelligence.
About Interstate Realty Management Company
Interstate Realty Management Company, AMO, provides exceptional property management services to a diverse range of affordable and mixed-income communities owned by Michaels Development Company and other affordable housing owners. With a nationwide portfolio valued at $1.5 billion, IRM’s long-term success can be credited to a focus on best practices, expert procedures, and a commitment to providing our residents with a great place to call home. IRM and The Michaels Development Company are both part of The Michaels Organization, a family of eight independent but integrated companies dedicated to excellence in affordable, military and student housing, headquartered in Marlton, NJ.
About RealPage Inc.
RealPage, Inc. is a leading provider of comprehensive property management software solutions for the multifamily, commercial, single-family and vacation rental housing industries. These solutions help property owners increase efficiency, decrease expenses, enhance the resident experience and generate more revenue. Using its innovative SaaS platform, RealPage’s on-demand software enables easy system integration and streamlines online property management. Its product line covers the full spectrum of property management, leasing and marketing, asset optimization, and resident management solutions. Founded in 1998 and headquartered in Carrollton, Texas, RealPage currently serves over 10,000 clients worldwide from offices in North America, Europe and Asia. For more information about the company, visit visit http://www.realpage.com