RealPage to acquire Lease Rent Options (LRO from The Rainmaker Group.
Expands Rental Housing Asset Optimization Solutions RICHARDSON, Texas - RealPage, Inc. (NASDAQ:RP) today announced its agreement to acquire Lease Rent Options (LRO) and related assets from The Rainmaker Group for $300 million in cash. LRO is a revenue management solution that empowers optimized pricing for over 1.5 million apartments.
With a decrease in apartment occupancy levels, how will the apartment market shape up across the nation? Read the latest in this release from MPF Research and Axiometrics:
More than 164,000 units were finished in the past two quarters of seasonally slow leasing. RICHARDSON, Texas (March 30, 2017) - New apartment properties completed in late 2016 and early 2017 are scrambling to land their initial residents.
RealPage Outperforms
We are a leading global provider of software and data analytics to the real estate industry. Clients use our platform to improve operating performance and increase capital returns. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves over 12,000 clients worldwide from offices in North America, Europe and Asia.
Our Company History
We were founded in 1998 with the acquisition of Rent Roll, Inc., a provider of industry-leading, on-premise property management systems for the conventional and affordable multifamily rental housing markets. Three years later, we released our first on-demand property management product and since then, expanded our on-demand software solutions to include a number of value-added services from property management to renter’s insurance and more.
In addition to our products’ success, our growth is supported by acquisitions that enhance our product development and sales and marketing efforts and expand the types of rental housing properties we serve.
Our Products
Our suite of solutions benefits owners and managers of various rental property types, including conventional, affordable, military, student, single-family, senior and vacation housing. We also provide commercial and mixed use property management solutions. We’ve evolved our products from the desktop to the cloud, with many available both online and for mobile devices. Our products manage everything from marketing to pricing and other property operations, such as:
Comprehensive Client Support
Supporting our family of SaaS products is our shared cloud services, including electronic payments, document management, decision support and learning. We also offer Platform-as-a-Service through our RealPage Exchange, a comprehensive toolkit of integration services for third-party application providers and Infrastructure-as-a-Service, which reduces IT costs and improves integration performance and reliability to multifamily owners and operators.
Activate Your Potential
RealPage offers an engaging work culture that fosters personal and career growth for our employees. Our unique company philosophy fosters innovation, excellence, and collaboration. Employees are encouraged to take risks and work on projects and products that the market has never seen before.
5 Reasons why you'll love working here:
Reason #1-. We empower entrepreneurs. Your ideas matter and your projects get noticed. Our belief: start with impossible, and then kick it up a notch.
Reason #2- You'll work for an industry leader that is outperforming its’ competitors and is nationally recognized. We have many of the industry experts working under one roof.
Reason #3- We offer an engaging and empowering work culture. RealPage fosters personal and career growth for our employees- we can’t grow unless you do too. It is our mission to provide a workplace that offers a first-rate opportunity to achieve your career goals.
Reason #4-Training and development of talent is a huge part of our DNA, we take good talent and make it better.
Reason #5- We offer a run fast, have fun, and reap rewards type of environment and make an impact in our local communities. Our unique company culture fosters innovation, excellence, and collaboration as we continue to expand in other parts of the world.
It's a great time to join our team as we continue to grow and set the pace for our industry.
The RealPage Promise
We are committed to developing and managing a great company. We believe that a strong corporate culture that nurtures core values and philosophies is essential to our long-term success. We call these values and philosophies the “RealPage Promise” and we will practice the promise in our actions every day.
Clients
Investors
Employees
Management
Our India office stands out in the competitive IT market through its life@RealPage commitment to teammates. Our teammate centric office includes an amazing work culture, work-life balance, fun@work, and many opportunities for professional growth. Our leaders are accountable to deliver consistent experiences across the organization and we benchmark our success against others and have been recognized as an India Best Places to Work company.
Our Philippines office embraces the culture of Cooperative Endeavor or Mutual Cooperation (Bayanihan in Filipino). It translates to our commitment in achieving our goals thru the synergy of collective talents of our Human Capital. We promote employee engagement, professional development, and celebrate employee successes through rewards and recognition. Our actions are anchored from the RealPage Promise – Client, Investors, Employees, and Management, which serves as our driving force to strive for excellence.
Our Barcelona office prides itself on being a multicultural, young and dynamic place to work. We encourage and reward the ideas and innovations of our staff at every level. Our goal is to utilize the diversity and experiences of every team member to reach the highest levels of success. We invest in the development of our team members as we create the ultimate technology for vacation rentals management.
As a team, we work hard together while taking pride and enjoying the work we do. We are happy to be part of a professional environment where respect and responsibility thrive amongst a fun and energetic atmosphere. Our office is a place built to provide an exciting career in the cosmopolitan setting of central Barcelona.
Helpful (8)
I have been working at RealPage full-time (More than 10 years)
Pros
Great people / corporate culture.
Cutting edge technology if you are in the right group. A great technical career path with a very high ceiling.
The new building in Richardson with the Gym and Cafe is pretty nice.
A lot of upper management has deep technical experience, helps with no-nonsense decisions.
Stock options and bonus plan. Health insurance seems great compared to friends I have talked to.
Cons
Experience can vary depending on what department you are in. (like anywhere really). There are some groups that are stuck handling some Legacy systems that are outdated, as RP moves towards the next level of these most are turning into opportunities to work with new tech as the Legacy systems are replaced, but It can be a slow process replacing large pieces of successful software.
Change is constant, If you don't adapt well to change, you probably will not like it here.
Advice to Management
I think you guys are on the right track. No place is perfect, but it is clear RealPage management by and large are making real efforts to make this a great place to work while staying very customer focused. Remember your agile roots and try to avoid getting too bogged down with policy and procedure.
Application
I applied through an employee referral. The process took 2 days. I interviewed at RealPage (Richardson, TX) in March 2017.
Interview
I was referred for this position by a friend who works at RealPage. I was emailed and a phone interview was setup with the recruiter. The phone interview was very general, questions not too hard.
Interview Questions
