New AI platform evolves the multifamily journey to connect meaningfully, act decisively and execute efficiently for optimal outcomes and value
RICHARDSON, Texas – April 17, 2024 – RealPage®, a leading global provider of software and data analytics to the real estate industry, today announced the next evolution of multifamily innovation with the Lumina™ AI Platform. Harnessing end-to-end artificial intelligence (AI), the next-generation data platform is packaged with trained AI models that enable smarter systems of engagement, intelligence and management to help optimize performance for property managers.
RealPage pioneered the use of AI in the multifamily industry over two decades ago, with more than 50 AI innovations brought to market since 2002, and today continues to deliver on its AI vision with Lumina. The platform provides key capabilities to property managers to improve efficiency, productivity and retention, all while ensuring RealPage’s best practice approach to AI governance.
"AI brings tremendous opportunities to the multifamily industry," said Dana Jones, RealPage Chief Executive Officer and President. "Lumina enables a new paradigm for managing property operations with engagement, smarter systems of intelligence and management. By giving our customers the ability to make connections, identify trends and offer predictions, we help them achieve higher yield at lower costs in a more efficient and responsive resident experience."
Informed by the most robust dataset in multifamily, Lumina leverages generative AI (GenAI), machine learning, natural language processing and advanced analytics capabilities across the RealPage portfolio, which enables operational support for property owners, in three core areas:
- Smarter systems of engagement to connect meaningfully.
Lumina is leveraging GenAI in an omnichannel virtual assistant for prospects and residents, ensuring proactive renter engagement, regardless of time, location, staffing or preferred communication channels. Lumina ensures prompt, consistent response with factual, personalized and human-like interaction that enhances the resident relationship and improves retention and optimizes prospect acquisition. - Smarter systems of intelligence to act decisively.
Lumina is helping property managers make more informed business decisions and create better outcomes. Lumina powers AI demand optimization using a property’s current and future availability to guide digital ad spend, lead prioritization and improved lead conversion. Lumina helps mitigate the rising risk of renter fraud by fueling advanced resident screening. It will also power AI Search for Market Insights to find data insights effortlessly with natural language queries. - Smarter systems of management to execute efficiently.
Lumina is helping maximize staff efficiency by simplifying core property management operations and streamlining cross property operations. Lumina offers an AI assistant to provide expert guidance to property staff, automate workflows, reduce training cycles, minimize invoice processing errors and optimize ESG performance. Lumina will power a Virtual Assistant for property operations, which is a virtual copilot for staff that uses GenAI to seamlessly answer how-to questions and execute tasks within RealPage property operations products.
Later today, RealPage is hosting RealTech, an exclusive event for technology leaders that will highlight and explore AI innovations already available to current customers.
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 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..