Momentum toward AI vision continues with GenAI enablement to enrich experiences and streamline activity for prospects and property teams
LAS VEGAS & RICHARDSON, Texas--(BUSINESS WIRE)--RealPage®, the leading global provider of AI-enabled software platforms to the real estate industry, today announced the introduction of generative AI (GenAI) into its major platform solutions. These advanced capabilities powered by the Lumina™ AI Platform are being showcased at RealWorld 2024, the company’s flagship conference that brings together nearly 1,500 registered attendees from the multifamily community to highlight innovations in the rental housing industry.
Lumina Platform Leverages Data and AI to Meet Market Challenges
In today’s “perfect storm” of rising expenses, staffing turnover, record levels of new apartment supply and increased competition for renters, property management companies are challenged to grow occupancy and net operating income by innovating to improve retention, increase efficiency, retain and augment staff and find opportunities to reduce costs and optimize revenue.
Lumina is the AI engine that unlocks the power of data to make RealPage products more engaging, automated, and insightful. Embedded across the company's major solutions, Lumina is the underlying AI platform that runs in the background to seamlessly integrate advanced technologies like GenAI, machine learning and natural language processing into tools and processes across most of the RealPage property technology portfolio.
New GenAI-Enabled Capabilities Across the RealPage Portfolio
As part of RealPage’s vision to provide the most enriching and integrated experiences in the multifamily market, new GenAI-based innovations deliver a personalized, conversational interface to answer questions, serve up data and automate tasks for prospects and property teams in all major RealPage platforms: Front Office, OneSite® Conventional, OneSite® Affordable, Utility Management and Spend Management.
“RealPage’s momentum with Lumina has been incredible, and I’m confident that incorporating Gen AI across our major platforms will drive significant value for our customers,” said Dana Jones, RealPage CEO and President. “We’ve unlocked the disruptive power of GenAI that will ultimately help remove costs and complexity for property management teams so they can better serve their residents.”
Smarter Systems of Engagement
For prospective renters, Lumina is powering more personalized experiences with GenAI, offering an omnichannel virtual agent to answer leasing questions around the clock. With these new capabilities, RealPage customers have realized increases of 51.7% in answered calls, 160% in captured contact records for prospects and 125% in tours scheduled, as well as savings of 11 hours per leasing agent, per property, per month. Lumina is also supporting its Affordable customers with AI-enabled language assistance for prospective renters. This community is among the 8% of the U.S. population with limited English proficiency (LEP), and providing expanded translation is a critical step during the application process.
- Knock® AI Omnichannel – GenAI virtual agent for expert answers to prospect questions about apartment units, communities and policies
- Affordable Online Leasing - GenAI-enabled translation for Spanish, Vietnamese and Farsi with more languages coming soon
Smarter Systems of Management & Intelligence
For property teams, Lumina’s new GenAI “copilot” functions as a virtual assistant to support team members in working more efficiently and making better decisions with personalized product guidance and faster access to needed information. These new AI capabilities are elevating the employee experience by creating time and cost efficiencies for increased productivity, reduced training and enhanced support for property management teams.
- OneSite Conventional
- OneSite Affordable
- Facilities
- Utility Management
- Spend Management
Lumina works seamlessly behind the scenes across our technologies, helping to make our solutions more engaging, automated and insightful for our customers and their residents,” said Lance French, RealPage Chief Information Officer. “RealPage is also cementing a solid foundation for ongoing innovation with its AI platform while offering a strong governance framework for protecting sensitive data.”
For more information on Lumina, visit www.realpagelumina.com/.
About RealPage, Inc.:
RealPage is the leading global provider of AI-enabled software platforms to the real estate industry. By using RealPage solutions for operational excellence in the front office and throughout property operations, many leading property owners, operators and investors gain transparency into asset performance with data insights, enhancing experiences with customized tools and improving efficiencies to generate incremental yield. In 2021, 2022, 2023 and 2024, RealPage was recognized as ENERGY STAR® Partner of the Year for Sustained Excellence from the Environmental Protection Agency (EPA) and the U.S. Department of Energy. In 2024, RealPage was recognized as one of America’s Best Employers by Forbes and America’s Best Employers for Women by Forbes and one of America’s Greatest Workplaces for Women by Newsweek. Founded in 1998 and headquartered in Richardson, Texas, RealPage joined the Thoma Bravo portfolio of market-leading enterprise software firms in 2021 to realize faster growth and innovation in serving more than 24 million rental units from offices in North America, Europe and Asia. RealPage has been certified as a Great Place to Work™ in India, the Philippines, the UK and the U.S. For more information, visit RealPage.
Contacts:
Jennifer Bowcock, Senior Vice President Communications & Creative
jennifer.bowcock@realpage.com
408-768-8221