Real estate tech company RealPage announced this week that it will be acquiring multifamily real estate engagement solution Modern Message.
The platform’s flagship product, Community Rewards, builds engagement through a fully mobile UI that is “motivating, rewarding, fun and interactive” for property residents, the company said.
“Modern Message provides a unique boost to our already powerful resident engagement platform,” said Jon Pastor, senior vice president of consumer solutions at RealPage.
“The two solutions joined together to 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,” Pastor added. “In short, we will be able to offer clients and residents the full potential of a resident portal.”
This is an effort to reach greater resident loyalty and referrals, boosting property reputation and value in the long run.
The acquisition will go hand-in-hand with RealPage’s ActiveBuilding resident portal platform, which offers payments, resident communication and monetization of multifamily properties, the company said.
RealPage says it plans to combine the two platforms and create a renter engagement solution with significant benefits.
“This is a great time to become part of the RealPage team,” said John Hinckley, co-founder of Modern Message. “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.”
This comes about a month after RealPage acquired real estate property management solution provider Buildium.
RealPage said it plans to retain Modern Message’s employees. The completion of the acquisition remains subject to certain standard closing conditions, which RealPage anticipates will be satisfied shortly, according to the release.
Financial terms of the deal were not disclosed.