RealPage and Flex Announce Strategic Partnership to Revolutionize Rent Payments

RICHARDSON, Texas & NEW YORK--(BUSINESS WIRE)--Aug 8, 2024--

RealPage ®, the leading global provider of AI-enabled software platforms to the real estate industry, today announced Flex as its preferred technology provider for flexible rent payments. This strategic partnership expands on the company’s existing integration, providing RealPage customers with the capability to enable Flex as a payment option for residents within LOFT™, RealPage’s next-generation resident portal and app.

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High demand for payment flexibility was confirmed in a June 2024 national survey* of more than 2,000 renters, revealing that 93% are interested in flexible payment schedules instead of paying in full once a month. Flex’s mobile application will allow residents to split their rent bill into smaller, more manageable payments while ensuring property managers receive their full rent payment due on time. With over $8 billion in annual rent payments processed, Flex has become a trusted partner to property managers who offer the solution across more than 6 million rental units.

For property managers, offering flexible rent payments has proven an effective way to boost NOI (net operating income), improve resident retention and stand out in a competitive rental market. Through this technology partnership, RealPage multifamily customers can offer their residents a convenient alternative to traditional payment methods. With Flex, residents can better align their rent payments with their pay cycles, introducing flexibility that makes paying rent easier to manage and less financially stressful.

“Partnering with Flex allows us to offer a new level of financial flexibility for residents while simultaneously optimizing rent collection processes for property managers,” said Dana Jones, RealPage CEO and President. “This partnership exemplifies our commitment to delivering a unified, streamlined experience for residents and property teams within the RealPage ecosystem.”

For RealPage property managers, offering Flex payment options means:

• Timely rent collection: Flex ensures simplified on-time payments, freeing staff from the administrative burden of chasing down rent and enabling them to focus on high-value activities like resident relations and property improvements.
• Enhanced resident experience: By offering greater financial flexibility to fit each resident’s needs and lifestyle, Flex helps improve resident satisfaction and retention in a competitive market.
• Improved operational efficiency: Fully integrated with the RealPage platform, Flex operates without additional costs or extra work for onsite teams, providing hassle-free implementation, reducing turnover costs and stabilizing revenue streams.

“This partnership enables us to expand payment options for millions more renters across the U.S.,” said Shragie Lichtenstein, CEO and Co-founder of Flex. “By partnering with RealPage, we’re taking the complexity out of rent, offering residents greater control over their finances and empowering property managers with more predictability in their business.”

Flex integration is available today and will be significantly enhanced with LOFT in the months ahead. Property managers can enable this amenity for their residents in less than 24 hours with no implementation work or additional cost. More details about the partnership are available at getflex.com/realpage.

* RealPage conducted a study in June 2024; full research results will be available 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 in America’s Best Employers and America’s Best Employers for Women by Forbes as well as in 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 https://www.realpage.com/.

About Flex:

Flex is a leading financial wellness company that allows residents to split their rent and build credit. Trusted by over 1,600 property management companies and offered in more than 6 million units nationwide, Flex has paid more than $8 billion in on-time rent. By integrating seamlessly with major property management systems, Flex offers a simple solution that supports operational efficiency and creates a superior resident experience. Learn more about Flex at getflex.com/realpage.

View source version on businesswire.com:https://www.businesswire.com/news/home/20240807380862/en/

CONTACT: Media Contact:

Jennifer Bowcock, SVP Communications & Creative

Jennifer.bowcock@realpage.com

408-768-8221

KEYWORD: UNITED STATES NORTH AMERICA TEXAS NEW YORK

INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE TECHNOLOGY CONSTRUCTION & PROPERTY SOFTWARE BUILDING SYSTEMS INTERNET HARDWARE OTHER CONSTRUCTION & PROPERTY ARTIFICIAL INTELLIGENCE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: RealPage, Inc.

PUB: 08/08/2024 08:31 AM/DISC: 08/08/2024 08:31 AM

http://www.businesswire.com/news/home/20240807380862/en