RICHARDSON, Texas, (April 10, 2018) – RealPage, Inc. (NASDAQ: RP), a leading global provider of software and data analytics to the real estate industry, today announced the launch of Propertyware Cash Payments and Asset Protection Plan. Both products are offered as part of Propertyware, the company’s suite of products and services for the Single Family market.
Propertyware Cash Payments provides a secure method for tenants to make cash payments either through their mobile phone or a printed voucher at over 25,000 participating retailers throughout the United States. According to research conducted by the Federal Reserve Bank of Boston, 22% of renters use cash to pay their monthly rent. Accepting cash payments on-site poses risk for property management companies (PMCs) and can increase cost and inefficiencies.
By using Propertyware Cash Payments, PMCs can avoid the risks and expenses of handling cash on-site while providing tenants secure, convenient options for cash payments. Tenants enjoy flexible payment options and PMCs can become more efficient and better protected. Payments are instantly recorded in Propertyware, minimizing late payments for tenants and eliminating manual tenant ledger updates for PMCs.
“Propertyware's new Cash Payments service is outstanding—it allows our tenants to pay their rent in cash at a retail location close to them, which is something they cannot do at our office,” said Kevin Stringari, Owner of Bottom Line Realty & Management. “It saves time for both our tenants and our team, and allows our tenants to make a payment when and where it is convenient for them."
Another new product, Propertyware Asset Protection Plan, allows PMCs to mandate insurance in new leases and renewals—protecting rental assets, driving new revenue and enabling automatic compliance. For a low cost per enrolled unit, Asset Protection Plan provides up to $100,000 in coverage and up to $3,000 in loss of rents relating to accidental, tenant-caused damage to the owner’s property. Coverage includes falling objects, fire, smoke, water, explosions and civil unrest. Asset Protection Plan’s guaranteed acceptance and low deductible per claim provides an affordable alternative to claims against commercial policies. Property management professionals can track enrollment at a glance, schedule compliance reporting through Propertyware, and even create new tenant revenue by offering an effortless alternative to procuring and maintaining renters insurance.
“The Asset Protection Plan is a win-win for both owners and tenants by providing low-cost protection against tenant-caused damage and loss of rents. It makes it easy for tenants to meet lease requirements upon move in and/or renewal,” said James Wagley, Senior Vice President of the Single Family product suite at RealPage. “Asset Protection Plan is only charged for enrolled units and can also provide a source of monthly recurring revenue for the PMC.”
For more information on Propertyware Asset Protection Plan, visit https://www.propertyware.com/asset-protection-plan
For more information on Propertyware Cash Payments, visit https://www.propertyware.com/secure-cash-rent-payments
About RealPage
RealPage is a leading global provider of software and data analytics to the real estate industry. Clients use its platform to improve operating performance and increase capital returns. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves nearly 12,500 clients worldwide from offices in North America, Europe and Asia. For more information about RealPage, please visit www.realpage.com.
About Propertyware
Propertyware Inc., a RealPage company, is an all-in-one, web-based solution for single-family property management that is affordable, flexible and scalable. Learn more at www.propertyware.com.