Company delivers multifamily’s most integrated resident experience in one app
Over 30 property managers and 200,000 units benefitting from beta program currently underway
RICHARDSON, Texas--(BUSINESS WIRE)--RealPage®, the leading global provider of AI-enabled software platforms to the real estate industry, today introduced LOFT™, a fully integrated resident experience platform covering application, leasing, moving and living in one app, with over 30 property management companies (PMCs) and 200,000 units participating in the beta program announced in April. LOFT is built to streamline leasing, moving, payments and rewards, so that PMCs can level up their resident experience, boost efficiency, discover new revenue streams and drive retention and renewals – all in one place.
Redefining the Resident Experience
As technology becomes a core component of apartment living, expectations have shifted and residents have more choices, while cost and competitive pressures for PMCs are making engagement and retention mission critical. Without an optimized resident experience, the prevailing use of disjointed point solutions in multifamily leaves residents dissatisfied and PMCs sacrificing operational efficiency, reputation and ancillary revenue.
“Listening to our customers and the residents they serve led us to create one modern app to meet today’s digital lifestyle,” said Dana Jones, RealPage CEO and President. “I’m proud of the progress we’ve made with LOFT to transform the entire rental journey, and I can’t wait to get it in the hands of more residents later this year.”
Seamless, Simplified Solutions for Property Owners and Operators
Developed with a focus on enabling frictionless experiences, digitalized processes and flexible property management system (PMS) integration, the LOFT platform puts everything resident-related in one app.
- LOFT Leasing: New first-of-its-kind leasing experience that guides renters through lease application, approval and signing to improve conversion rates and onboard high-quality prospects. Includes state-of-the-art fraud protection via identity verification and income verification and offers AI capabilities to guide the applicant and reduce calls and emails to the front office staff.
- LOFT Moving: Simplified moving experience for residents and property management staff with a configurable moving checklist, PMS integration with a two-way data sync and integrations with local providers to order utilities, internet and moving services.
- LOFT Payments: Financial wellness offerings to help residents minimize the risk of nonpayment via a single hub for all payment needs, including more payment options and financial tools to help residents build credit.
- LOFT Loyalty: Residents can earn points for paying rent online with any payment method and redeem those points for rewards, which are 100% funded by RealPage. PMCs can also fund their own leasing incentives and concessions or give points to drive a specific resident behavior (like writing a review or referring a friend to the building). LOFT Loyalty helps retain residents, promote the property’s brand and create happy residents.
“LOFT Loyalty and LOFT Moving have started driving positive resident engagement immediately, and we are already seeing over 40% of beta residents take advantage of the loyalty features,” said Steve Boyack, JVM Realty Chief Operating Officer. “LOFT Moving is significantly reducing the time required by our site teams to onboard a new resident into a building.”
Powering Performance for Apartment Owners and Operators
With a fully integrated resident experience platform to reduce reliance on point solutions, LOFT is helping property teams remove cost and complexity from their business, improve operational efficiency of site staff and create better resident experiences to drive retention and renewals.
LOFT solves key pain points for property managers, including:
- Single, unified experience: LOFT delivers a seamless, end-to-end experience from application through living, reducing the need for third party point solutions that can get between the PMC and its customer.
- Acquire and retain residents: LOFT helps build engagement and loyalty to the property’s brand via an integrated loyalty experience.
- Drive operational efficiency: LOFT streamlines and optimizes activities to reduce costs and minimize fraud via AI powered tools, 2-way data sync with the PMS and state-of –the-art fraud detection tools.
- Identify new revenue streams: LOFT opens up new revenue streams for PMCs via a revenue share from third-party offers that are targeted to residents across the moving and living lifecycle.
To learn more about the LOFT experience, please visit www.loftliving.com.
All LOFT components are becoming available to customers participating in the beta program continuing through Q4 2024.
Explore LOFT at RealWorld 2024
The reimagined platform, already in beta testing, will be demonstrated 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. LOFT will be featured in a main stage session with Vinit Doshi, COO of RealPage and guest speaker and entrepreneur luminary Scott Galloway on August 13.
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.
Media Contact:
Jennifer Bowcock, Senior Vice President Communications & Creative
jennifer.bowcock@realpage.com
408-768-8221