Latest news with #RealPage
Yahoo
13-06-2025
- Business
- Yahoo
RealPage Is Under Fire For Its Rent Algorithm — But A GOP Tax Plan Could Protect The Company From Lawsuits And Local Bans
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. RealPage, the Texas-based software company embroiled in a firestorm of controversy and legal struggles due to its algorithmic rental price setting, may have found an escape in its fight against state and local governments. The company has the latest GOP tax bill to thank for its possible lifeline. The bill, which passed the House on May 22, would hinder local and statewide efforts to ban algorithmic price-setting software, including RealPage and Yardi Systems, due to a provision that allows artificial intelligence-based decisions to prevail for 10 years. However, the bill would not prevent the civil lawsuit against RealPage brought by the Department of Justice from continuing. Don't Miss: Invest Where It Hurts — And Help Millions Heal: If there was a new fund backed by Jeff Bezos offering a ? Several U.S. cities, including San Francisco, Philadelphia, Providence, Rhode Island, and most recently, Jersey City, New Jersey, have implemented bans on the software, with several other cities on the verge of doing so, the Journal reports. The cities allege that RealPage and others help landlords engage in illegal collusion to ensure rental prices continue to rise by collecting and analyzing confidential data and using it against residents. Should the bill pass Congress, all that could change. "We would no longer be able to enforce this ban," Providence City Council President Rachel Miller told the Journal. Local governments would not take the new law lying down should it pass. Suing the federal government as a first retaliatory measure, Miller told the Journal. Secondly, they would lean on tenant-protection laws. "Rent control—that would be the biggest tool if folks are using algorithms to jack up rents," Jersey City Councilman James Solomon, who was recently successful in banning RealPage in his city, told the Journal. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — RealPage is fighting back against the bans, suing Berkeley, California, over its ban. Meanwhile, landlord advocacy trade groups, such as the National Multifamily Housing Council, have intensified their lobbying efforts, arguing that the housing shortage, rather than algorithmic pricing, is the primary reason for rent increases. It has also reiterated RealPage's defense that landlords can refuse to follow RealPage's recommendations and set their own rental prices, and that large landlords do not contribute to the majority of rental units in the U.S. Rather, mom-and-pop landlords who do not use RealPage offer the majority of rentals. However, NMHC staff and others contributed suggestions to a House Financial Services Committee that shaped the current AI component in the GOP tax bill, according to The Wall Street Journal. "At a time when housing providers face increasing pressure to meet booming demand, tax policy should not stand in the way. Indeed, tax policy should lead the way," NMHC President Sharon Wilson Géno said in a letter of support sent to the chairman of the panel that added the provision to the new tax bill, the Journal has already suffered a reputation loss and the loss of potential business from landlords who have backed away from using it after the Atlanta offices of multifamily company Cortland were raided by the FBI last year as part of the DOJ investigation. Cortland ended up settling with North Carolina Attorney General Jeff Jackson, the only management company to have done so. "Everybody that I know has stopped using RealPage just out of sheer terror," Tony Julianelle, chief executive at real-estate brokerage Atlas Real Estate, told the Journal. RealPage has a lot to lose — $73 billion, according to the Journal, should it be unsuccessful in the lawsuits it is facing. Additionally, it would face significant restrictions on how its revenue management software is used. However, Congress could change the narrative should it diminish the influence of local and state lawmakers in their fight against RealPage, taking the wind out of the sails of the larger opposition. "It's not a get-out-of-jail-free card," Kevin Weller, a New Jersey tenant who filed one of the largest class-action lawsuits against RealPage, told the Journal "But it could muddy the waters." . 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Geek Wire
11-06-2025
- Business
- Geek Wire
Seattle City Council considers ban on tech that landlords use to allegedly set higher rents
The Seattle City Council today is considering legislation to stop the use of software that allegedly allows for collusion among landlords and drives up rental prices. Washington Attorney General Nick Brown filed a lawsuit in April against property management software company RealPage and nine Seattle-area landlords, accusing them of colluding to inflate rental costs. The Seattle measure, Council Bill 121000, would ban tech companies from providing algorithm-driven, rental cost services; prohibit landlords from using these services; and create civil penalties for violations. Washington lawmakers failed to pass a similar measure in the most recent legislative session. Mike Semko of RealPage testified against the state legislation, saying the technology 'is simply market research and analysis with a suggested price.' An earlier ProPublica report that found in Seattle's Belltown neighborhood, 70% of the apartments were handled by 10 property managers who all used RealPage.
Business Wire
09-06-2025
- Business
- Business Wire
RealPage Propels Multifamily Industry Forward with the Lumina AI Workforce at Apartmentalize 2025
LAS VEGAS & RICHARDSON, Texas--(BUSINESS WIRE)--RealPage ®, a global leader in software and data analytics for the real estate industry, today unveiled the Lumina™ AI Workforce, the multifamily sector's first agentic AI platform. Advancing beyond traditional automation and chatbots, the Lumina AI Workforce replaces fragmented tools with a coordinated network of intelligent AI agents that work across leasing, operations, facilities, finance, and resident engagement. These agents collaborate autonomously while partnering with their human teams, handling routine tasks and surfacing real-time insights so staff can focus on higher-value work. The result is a fully reimagined operating model, where speed, intelligence, and service converge to transform the future of multifamily living. The Lumina AI Workforce is powered by the Lumina AI Data Platform, which provides the intelligence, context and orchestration layer that brings every agent and workflow together. Unlike point solutions, Lumina AI Agents are fully embedded into existing RealPage systems, creating a single, coordinated network that can operate deeper and broader across the property lifecycle. This allows agents to surface resident insights, anticipate needs, and determine the right time and channel to engage. The entire system is governed by a robust AI governance framework designed to ensure transparency, accountability and responsible AI use at every level of deployment. This platform offers a new blueprint for how the multifamily industry will harness the power of a hybrid workforce where AI agents handle repetitive, time-consuming tasks, enabling humans to focus on strategic decisions and high-value resident relationships. By working together, they amplify human potential, simplify daily operations and drive meaningful gains in efficiency, responsiveness, and NOI. Central to this vision is a groundbreaking collaboration with industry leader, OpenAI, aimed at accelerating development of advanced agentic AI capabilities tailored specifically for multifamily. At Apartmentalize 2025, powered by National Apartment Association (NAA), RealPage will preview the Lumina AI Workforce, showcasing how decades of applied AI experience are converging with cutting-edge advancements to shape the future of property performance. RealPage and OpenAI: Shaping the Future of Multifamily AI As part of RealPage's mission to drive the next era of innovation in multifamily, RealPage has entered into a strategic collaboration with OpenAI to power an advanced Agentic AI framework purpose-built for real estate operations. This collaboration combines early access to OpenAI's advancements in large language models (LLMs), reasoning, and multi-agent coordination with RealPage's deep domain expertise and decades of multifamily-focused AI innovation to power Lumina AI and transforms AI from a series of isolated tools into an interactive workforce that enhances human teams, elevates resident experiences, and delivers measurable NOI growth across the property lifecycle. 'This collaboration with OpenAI marks a defining moment for the future of multifamily,' said Dana Jones, RealPage CEO and President. 'We've laid the groundwork for AI in multifamily, and now we're entering a new era, one where intelligent agents work in harmony to transform how properties operate, how teams perform and how residents experience superior living.' "We're pleased to support efforts to bring agents to the real estate sector in collaboration with RealPage," said James Dyett, head of enterprise and strategic sales at OpenAI. RealPage is on Full Display at NAA RealPage will showcase its fully connected property management ecosystem, where AI, automation, and data come together to drive smarter operations and stronger performance across the property lifecycle. Attendees will be able to see how RealPage transforms operations from disconnected tasks into intelligent, integrated systems that drive portfolio-wide value for owners and operators. Integrated Front Office: See how Knock ® CRM, G5 ® Marketing, and AI Leasing Agents combine to create a seamless, AI-powered prospect-to-resident journey, boosting conversions, reducing workload, and elevating the renter experience. LOFT Resident Experience: Discover how LOFT™ creates a single, mobile-first hub for residents to manage leasing, payments, maintenance, and renewals, while loyalty rewards, flexible payments, and marketplace services drive satisfaction and retention. OneSite Unified Operations: Explore how OneSite ® automates leasing, maintenance, and financial workflows across properties, to simplify workflows and empower property teams. Connected Living, Utilities & Spend: Discover how Smart Building, Utility Management, and Source-to-Pay solutions extend platform intelligence into the physical environment - enhancing efficiency, driving cost control, and powering NOI growth. Portfolio Analytics & Insights: Learn how RealPage Business Intelligence delivers 360-degree insights, role-based dashboards, and performance benchmarks that inform decisions at every level, from on-site to executive. As part of RealPage's premier partner sponsorship, the company will also be introducing award-winning podcaster and author, Jay Shetty, best known for his On Purpose platforms at Wednesday's session. RealPage is also hosting the premier and closing party during NAA at Resorts World in The District. For more information on Lumina AI, visit 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 America's Best Employers for Women 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.
Yahoo
09-06-2025
- Business
- Yahoo
RealPage Propels Multifamily Industry Forward with the Lumina AI Workforce at Apartmentalize 2025
RealPage and OpenAI join forces to launch AI-driven innovation across the multifamily lifecycle LAS VEGAS & RICHARDSON, Texas, June 09, 2025--(BUSINESS WIRE)--RealPage®, a global leader in software and data analytics for the real estate industry, today unveiled the Lumina™ AI Workforce, the multifamily sector's first agentic AI platform. Advancing beyond traditional automation and chatbots, the Lumina AI Workforce replaces fragmented tools with a coordinated network of intelligent AI agents that work across leasing, operations, facilities, finance, and resident engagement. These agents collaborate autonomously while partnering with their human teams, handling routine tasks and surfacing real-time insights so staff can focus on higher-value work. The result is a fully reimagined operating model, where speed, intelligence, and service converge to transform the future of multifamily living. The Lumina AI Workforce is powered by the Lumina AI Data Platform, which provides the intelligence, context and orchestration layer that brings every agent and workflow together. Unlike point solutions, Lumina AI Agents are fully embedded into existing RealPage systems, creating a single, coordinated network that can operate deeper and broader across the property lifecycle. This allows agents to surface resident insights, anticipate needs, and determine the right time and channel to engage. The entire system is governed by a robust AI governance framework designed to ensure transparency, accountability and responsible AI use at every level of deployment. This platform offers a new blueprint for how the multifamily industry will harness the power of a hybrid workforce where AI agents handle repetitive, time-consuming tasks, enabling humans to focus on strategic decisions and high-value resident relationships. By working together, they amplify human potential, simplify daily operations and drive meaningful gains in efficiency, responsiveness, and NOI. Central to this vision is a groundbreaking collaboration with industry leader, OpenAI, aimed at accelerating development of advanced agentic AI capabilities tailored specifically for multifamily. At Apartmentalize 2025, powered by National Apartment Association (NAA), RealPage will preview the Lumina AI Workforce, showcasing how decades of applied AI experience are converging with cutting-edge advancements to shape the future of property performance. RealPage and OpenAI: Shaping the Future of Multifamily AI As part of RealPage's mission to drive the next era of innovation in multifamily, RealPage has entered into a strategic collaboration with OpenAI to power an advanced Agentic AI framework purpose-built for real estate operations. This collaboration combines early access to OpenAI's advancements in large language models (LLMs), reasoning, and multi-agent coordination with RealPage's deep domain expertise and decades of multifamily-focused AI innovation to power Lumina AI and transforms AI from a series of isolated tools into an interactive workforce that enhances human teams, elevates resident experiences, and delivers measurable NOI growth across the property lifecycle. "This collaboration with OpenAI marks a defining moment for the future of multifamily," said Dana Jones, RealPage CEO and President. "We've laid the groundwork for AI in multifamily, and now we're entering a new era, one where intelligent agents work in harmony to transform how properties operate, how teams perform and how residents experience superior living." "We're pleased to support efforts to bring agents to the real estate sector in collaboration with RealPage," said James Dyett, head of enterprise and strategic sales at OpenAI. RealPage is on Full Display at NAA RealPage will showcase its fully connected property management ecosystem, where AI, automation, and data come together to drive smarter operations and stronger performance across the property lifecycle. Attendees will be able to see how RealPage transforms operations from disconnected tasks into intelligent, integrated systems that drive portfolio-wide value for owners and operators. Integrated Front Office: See how Knock® CRM, G5® Marketing, and AI Leasing Agents combine to create a seamless, AI-powered prospect-to-resident journey, boosting conversions, reducing workload, and elevating the renter experience. LOFT Resident Experience: Discover how LOFT™ creates a single, mobile-first hub for residents to manage leasing, payments, maintenance, and renewals, while loyalty rewards, flexible payments, and marketplace services drive satisfaction and retention. OneSite Unified Operations: Explore how OneSite® automates leasing, maintenance, and financial workflows across properties, to simplify workflows and empower property teams. Connected Living, Utilities & Spend: Discover how Smart Building, Utility Management, and Source-to-Pay solutions extend platform intelligence into the physical environment - enhancing efficiency, driving cost control, and powering NOI growth. Portfolio Analytics & Insights: Learn how RealPage Business Intelligence delivers 360-degree insights, role-based dashboards, and performance benchmarks that inform decisions at every level, from on-site to executive. As part of RealPage's premier partner sponsorship, the company will also be introducing award-winning podcaster and author, Jay Shetty, best known for his On Purpose platforms at Wednesday's session. RealPage is also hosting the premier and closing party during NAA at Resorts World in The District. For more information on Lumina AI, visit 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 America's Best Employers for Women 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. View source version on Contacts Media ContactJennifer BowcockSenior Vice President, Communications and 408-768-8221
Yahoo
09-06-2025
- Business
- Yahoo
Gov. Polis vetoes 11 bills, a personal record, passed in 2025 by Colorado Legislature
Colorado Gov. Jared Polis signs Senate Bill 25-183 into law on April 25, 2025 at the Colorado Capitol. The bill implements Amendment 79, a constitutional amendment that guarantees the right to abortion and lifts a prohibition on public funds for care. (Sara Wilson/Colorado Newsline) Colorado Gov. Jared Polis signed 476 bills approved by the Colorado Legislature this year and vetoed 11 measures, a record for him. The previous veto record from Polis was 10, during the 2023 legislative session. In 2019, he vetoed five bills, in 2020 three bills, in 2021 three bills, in 2022 four bills, and in 2024 six bills. Here are the bills state lawmakers approved that Polis declined to sign into law this year. Senate Bill 25-5, dubbed the Worker Protection Act, would have removed Colorado's unique requirement for a second election following a simple majority vote to form a union. Polis said from the start of the 2025 legislative session that he would reject the measure unless a compromise between labor and business interests came about. The second vote requires 75% approval for workers to be able to negotiate whether every employee must pay representation fees, regardless of union membership. Colorado is the only state to have that system. It was created through the Labor Peace Act over 80 years ago. Polis' last veto of the year went to House Bill 25-1004, which would have banned the use of computer algorithms to set rent in the state. Consumer advocates and bill supporters blasted the veto, which Polis said was necessary as several lawsuits related to rent algorithms run their course. That includes an antitrust lawsuit Colorado Attorney General Phil Weiser joined last year targeting RealPage. The Biden administration released a report last year that found software from companies like RealPage cost Denver renters an extra $136 per month, one of the highest monthly cost increases in the country, and is used in over 45% of multifamily rental units in the city. House Bill 25-1291 aimed to increase safety for passengers who use ride-share services like Uber and Lyft, but Polis vetoed the measure after the companies threatened to pull out of Colorado if it passed. The bill would have allowed for optional audio and visual recording during rides and a ban on drivers offering their passengers food and drink. It would have also added new background check requirements and allowed a person to sue a company or driver, instead of going to arbitration, in the case of death, sexual assault, personal injury or kidnapping. The bill was sponsored by Rep. Jenny Willford, a Northglenn Democrat who said she was sexually assaulted by a Lyft driver last year. Prosecutors charged the man who allegedly attacked her in May, and Willford is suing Lyft over the incident. Bill sponsors said they will continue to pursue options to increase safety for riders, and Polis directed the Colorado Department of Regulatory Agencies to work with sponsors to find new policy ideas. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX A bipartisan measure that would have changed Colorado Open Records Act timeline requirements was the first bill Polis vetoed this year. Senate Bill 25-77 would have extended the timeline that a records custodian has to respond to a CORA request, except for requests from journalists. It also would have given entities more time to respond to a request if they decided the request was for financial gain, like obtaining information on a large group of people in order to solicit business. Polis said the measure gave records custodians too much discretion to determine the intent of someone requesting a record. He also said he supports 'more, not less, openness and transparency' in his veto letter. Supporters of the bill said it was intended to give public officials a reasonable amount of time to respond to an increasing volume of requests. Polis vetoed Senate Bill 25-86, which was intended to protect vulnerable young people from predatory social media users who try to sexually exploit them online or sell them drugs or guns. It would have required social media companies, such as X and Meta, to investigate and remove users they determine violate policies around those behaviors. It also would have required companies to hand over related materials to law enforcement within three days of a request. The Senate voted to override Polis' veto of the bipartisan bill, but the House did not, so the veto stands. Polis said in his veto letter that the measure required social media companies rather than law enforcement to enforce the law. Bill sponsors have said they will bring the measure back in future sessions. House Bill 25-1088, which received unanimous bipartisan approval from the Colorado Legislature, would have eliminated surprise billing for ambulance rides. Polis vetoed the measure, saying while it was well-intended to save rural Coloradans money, it would have ultimately increased health insurance premium costs. The bill would have required insurance companies to pay for out-of-network ambulance rides at set rates. 'I have been provided with estimates on premium impact that range from $0.73 to $2.15 per member per month, which means a family of four would likely pay as much as one hundred dollars more per year in insurance premiums if I were to sign this bill; by every estimate, this bill raises costs for consumers,' Polis said in his veto letter. House Bill 25-1026 would have eliminated copayments people in Colorado Department of Corrections custody have to pay for health care visits, as well as fees for missed appointments. Polis said the measure 'micromanaged' CDOC policy and said decisions on such policies are better determined by the department itself. The department is already restricted to a $5 maximum copay charge for people in custody. On the same day he vetoed the bill, Polis issued an executive order directing CDOC to review and revise its policies on medical copays to reduce the cost for the incarcerated person, and waive the cost for certain services. It also tells the department to enhance its data collection regarding fees charged for missed appointments. Supporters of the bill said it would have reduced barriers to necessary medical treatment. House Bill 25-1122 would have required commercial self-driving vehicles to have a person with a valid driver's license present in the vehicle, a measure intended to increase safety on the road. Polis said in his veto letter that the bipartisan measure would have effectively created a 'first-in-the-nation prohibition on autonomous commercial vehicle testing and operations.' 'While we as a country have yet to see widespread adoption of autonomous commercial vehicles, deployment in Colorado presents potential opportunities for improving safety,' Polis said in his veto letter. 'Allowing HB 25-1122 to become law would require a driver to be present in commercial vehicles, which may undermine innovation of future technologies that could increase road safety.' Senate Bill 25-1220 would have required dietitians and nutritionists to be licensed through the state Division of Professions and Occupations after passing certain educational requirements. In his veto letter, Polis cited a 'sunrise review' the Department of Regulatory Agencies conducted in 2024 that advised the Legislature against regulating dietitians and nutritionists 'due to a lack of evidence of harm to justify regulation of this entire group of professionals.' Polis said the review was 'well-researched and thorough,' so he agrees with its findings that the professions don't need state regulation. House Bill 25-1147 would have prevented municipal courts from inflicting harsher sentences for low-level crimes than the state would for the same crime. The goal of the bill was to align state court practices with municipal court practices. Local governments opposed the bill, claiming it violated the rights of Colorado's home-rule municipalities. Polis said in his veto letter that the measure 'significantly restricts a municipality's ability to react to local crime trends in ways that a local government deems most appropriate to improve public safety in their community.' The bill also included provisions that would have clarified that defendants have the right to counsel in municipal court, and that municipal court proceedings should be open to the public, concepts Polis said he would have supported on their own. House Bill 25-1065 would have allowed people age 72 and older to permanently opt out of jury duty. The bipartisan bill also would have allowed people living outside of Colorado, such as a college student, to temporarily opt out. 'Older adults have so much to contribute to our communities and a state law that creates an arbitrary age-based threshold for exclusion from one's civic duty isn't warranted,' Polis said in his veto letter. The governor indicated he would be open to future discussion of allowing people to postpone jury service for good reason. Currently, a juror can postpone their jury duty for up for six months for any reason. SUPPORT: YOU MAKE OUR WORK POSSIBLE
