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About Realpage, Inc.

RealPage keeps real estate operations on the same page for property managers. The company's on-demand software platform is designed to make the property management process more efficient, enabling owners and managers of single- and multifamily rental properties to oversee their accounting, leasing, marketing, pricing, and screening operations from a single, shared database. The centralized system helps with managing incoming and outgoing residents and overseeing property functions, from hiring plumbers to training staff. Its customers include the top 10 largest multifamily property management companies in the US.


RealPage's on-demand software (96% of sales) is its primary revenue segment and consists of an integrated software platform that provides a single point of access containing data on residents, prospects, and properties. The software is generally licensed under one-year customer subscription agreements. A smaller portion of the company's revenue is generated from professional services, which include consulting, training, and implementation services.

Sales and Marketing

RealPage sells its software and services through an in-house direct sales organization. The firm promotes its products via online marketing activities, including email campaigns, online advertising, Web campaigns, webinars, and social media (blogging, Facebook, and Twitter). Advertising cost totaled $15.1 million in 2014, vs. $11.4 million in 2013.

In 2014 more than 10,700 customers used one of more of the company's on-demand software products to help manage the operations of some 9.6 million rental housing units.

Financial Performance

RealPage's revenue has climbed steadily each year and it reached $404 million in 2014, a 7% gain from $337 million in 2013. Sales of its cloud-based on-demand products continued to grow (up 8% in 2014) while sales of the on-premise version, which the company no longer actively sells, have diminished. Despite a reliable revenue rise, profits have been less dependable as the company has spent more money generating and supporting sales. RealPage posted a loss of $10 million in 2014 after posting $20.7 million in net income in 2013. Headcount increased 16% in 2014 from new hires and acquisitions. Cash flow from operations inched higher to $70 million in 2014 from $69 million the previous year.


Most of RealPage's strategy to push growth can be summed up in four words: acquire, buy, purchase, and integrate. The company has bought some 30 firms since 2002, which has enabled it to expand its platform and offerings, expand the number and types of property markets it serves, and expand its customer base. As it looks ahead, RealPage focuses on offering (as well as acquiring) cloud-based software. It no longer markets its on-premise software to new customers.

Mergers and Acquisitions

RealPage agreed to acquire Buildium, a software-as-a-service (SaaS) real estate property management provider, in 2019 for $580 million in cash. RealPage expects that Buildium's tools will help draw business from the smaller multifamily, single-family, associations (homeowners and condo), and commercial real estate market segments. Some 17,000 customers in more than 50 countries use Buildium software to manage about two million residential units.

RealPage bought American Utility Management (AUM), a provider of utility and energy management services for the multifamily housing industry, for about $70 million in June 2017. RealPage expands its Resident Utility Management (RUM) platform that provides billing, invoice processing, and bill payment services. RealPage intends to combine the data it collects with those of AUM to create the industry's largest database of utility consumption and cost data.

In 2014 RealPage bought two vacation rental management companies for a total of about $45 million and in 2015 combined them into one platform. The first acquisition was Bookt LLC and its InstaManager product for $9.2 million. InstaManager, a Software-as-a-Service (SaaS) vacation rental booking system, that offers marketing websites, online pricing and availability, online booking, automated reservations, payment processing, and insurance sales. Then RealPage spent about $36 million on Kigo Inc., also a SaaS vacation rental booking system. The company combined the acquisitions under the name Kigo and offers the package of services for licensing.

Other recent acquisitions included Virtual Maintenance Manager, a SaaS application that facilitates the management of the end-to-end maintenance life cycle for single-family and multifamily rental properties; Notivus Multi-Family, which offers vendor risk management and compliance software; and ICIM Corp. (trade named Indatus), a suite of cloud-based automation and routing solutions for handling maintenance calls.

Company Background

RealPage was formed in 1998 to acquire Rent Roll, Inc., which marketed and sold on-premise property management systems for certain multifamily housing markets. Three years later, it released OneSite, its first on-demand property management system.

Realpage, Inc.

2201 Lakeside Blvd
Richardson, TX 75082-4305
Phone: 1 (972) 820-3000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: RP
Stock Exchange: , NASDAQ
EVP, Enterprise Solutions: William P. Chaney
EVP and CFO: W. Bryan Hill
Chairman and CEO: Stephen T. Winn
Employees (This Location): 800
Employees (All Locations): 7,000

Major Office Locations

Richardson, TX

Other Locations

San Francisco, CA
Greenville, SC
San Antonio, TX
Virginia Beach, VA