RealPage (RP) Reports Acquisition of Modern Message
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RealPage, Inc. (NASDAQ: RP) has agreed to acquire Modern Message, Inc., the multifamily real estate industry’s leading resident engagement solution. Modern Message has seen rapid adoption of its platform by over half the property management companies in the NMHC Top 50.
Modern Message’s flagship resident engagement platform, Community Rewards, builds meaningful engagement through a fully mobile UI that is motivating, rewarding, fun and interactive for property residents. Higher engagement leads to greater resident loyalty and referrals, which boosts property reputation and value.
The Modern Message platform uniquely rounds out the RealPage® ActiveBuilding® resident portal platform, which is the industry leader in payments, resident communication and monetization of rentables and amenities. RealPage plans to combine the two platforms to offer property management companies a complete renter engagement solution with significant benefits:
- Exceptional engagement that drives increased leasing, retention, resident use of payments and eCommerce transactions for amenities and other services
- Proven resident behavior motivation via a high-value, points-based rewards program where residents accumulate points that can be redeemed for a property’s amenities, reward cards and third-party marketers’ discounts and perks
- Improved property reputation, a known driver of lead to lease conversion rates
- A data-driven solution for benchmarking engagement and reputation
- Enhanced communications that build connections between onsite teams and residents
- A user-friendly, community branded, mobile interface that will work with any popular property management software platform
- Automation of the delivery of any lease or renewal incentives offered to residents or prospects
Jon Pastor, Senior Vice President of Consumer Solutions at RealPage
“Modern Message provides a unique boost to our already powerful resident engagement platform. The two solutions joined together enable our clients to give residents a rich rewards experience, boost ancillary revenue, resident loyalty and reputation scores, and see greater adoption of their RealPage solutions. In short, we will be able to offer clients and residents the full potential of a resident portal.”
John Hinckley, Co-founder of Modern Message
“This is a great time to become part of the RealPage team. ActiveBuilding will be the perfect gateway to deliver Modern Message’s resident engagement programs to a broader industry audience while maximizing results. We are also looking forward to exploring new opportunities that may arise from the combined platform. It’s beyond exciting.”
Mike Ivey, Co-founder of Modern Message
“We immediately saw that RealPage shared our vision for resident engagement and loyalty. As a result, we are thrilled to continue on our mission and introduce our existing clients to the expanded capabilities available once the two platforms are combined. In the meantime, we will continue to support the Modern Message platform and deliver the same excellent service our clients have come to know and expect.”
RealPage expects to retain Modern Message’s employees and operations, which will be moved from downtown Dallas to the RealPage corporate headquarters in Richardson, Texas. The completion of the acquisition remains subject to certain standard closing conditions, which RealPage anticipates will be satisfied this week.
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