Publish Date : 12-Nov-2009
RealPage Inc. today announced the acquisition of Propertyware, (www.propertyware.com), enabling RealPage to better serve its multifamily clients with mixed portfolios that include smaller, centrally-managed apartment communities. The move also vastly expands the breadth of products Propertyware will make available to its residential property management customers who manage diversified portfolios that include commercial properties, single-family homes, condominiums, town homes, duplexes, and small apartment buildings.
\"This acquisition will enable managers of single family rentals and smaller apartment communities that are centrally managed to leverage the infrastructure, controls, financial backing, and integrated services offered by RealPage,\" said Steve Winn, CEO of RealPage. Virtually all of the on-demand services offered by RealPage, including tenant screening, renters insurance, eProcurement, group purchasing, contact center, and billing will be tightly integrated into the Propertyware platform over the next 6 to 12 months. The current management team will continue to operate Propertyware, with the addition of significant sales and service resources to support the rapid growth both companies are experiencing. RealPage also plans to move the Propertyware data center into its SAS70 and PCI compliant cloud computing infrastructure in Dallas.
\"This will tremendously benefit a segment of the real estate market that has largely been underserved from a technology standpoint,\" said Sina Shekou, president of Propertyware. \"Our integration with RealPage will enable property managers, wherever they are based, to \'plug in\' to the most powerful property management platform available today in an efficient, uncomplicated manner, so they can focus on generating new business versus spending endless hours managing properties and filling vacancies.\"
Propertyware solutions enable individual property owners, regardless of their technical expertise, to effectively manage any number of single-family or multifamily rental properties from a remote location, anywhere in the world, using a web browser. This segment of the real estate market has grown exponentially creating a bigger demand for self-provisioning property management software.
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