Rentlytics has developed a new product called “Renovation Manager” that helps manage renovation workflow and provides better visibility into per-unit and per-property yields achievable through renovations. More than 10,000 properties are under renovation in the U.S. today as owners stretch for higher rental yields. RealPage intends to begin marketing this product to its clients immediately upon completion of the acquisition.

“Rentlytics expands our data footprint in the multifamily industry, thereby improving our benchmarking and precision forecasting capabilities,” says Steve Winn, chairman and CEO of RealPage. “We intend to combine the real time data that Rentlytics has assembled with our existing business intelligence and data analytics platform, and offer the industry a more powerful, high precision tool to measure financial and operating performance.”

RealPage, which was founded in 1998 and is headquartered in Richardson, TX, expects the acquisition of Rentlytics to contribute revenue of approximately $1.5 million and to contribute immaterially to its 2018 adjusted EBITDA during the three-month period ending Dec. 31, 2018. In addition, RealPage expects Rentlytics to contribute revenue of approximately $9 million during the full year ending Dec. 31, 2019, representing growth of 35%.

For more information on real estate technology, join us at RealShare APARTMENTS in Los Angeles, CA from October 29-30, 2018. This year, GlobeSt.com and CRETech are coming together to present two highly engaging sessions that highlight cutting-edge technology solutions. These interactive and entertaining discussions will provide key takeaways and practical insights from top technology innovators and top adopters in the multifamily industry. To register for RealShare APARTMENTS visit: https://www.eiseverywhere.com/ehome/302312/653773/.