RealPage Announces Lumina
April 17 2024 - 8:31AM
Business Wire
New AI platform evolves the multifamily journey
to connect meaningfully, act decisively and execute efficiently for
optimal outcomes and value
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.
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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.
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Jennifer Bowcock Senior Vice President, Communications and
Creative jennifer.bowcock@realpage.com 408-768-8221