Commercial real estate (CRE) property managers face increasing pressure to ensure business continuity in the face of various disruptions, ranging from natural disasters to pandemics. Furthermore, the growing importance of Environmental, Social, and Governance (ESG) factors requires property managers to adopt sustainable practices and comply with reporting standards. RealPage Commercial offers a comprehensive suite of solutions that can help CRE property managers address these challenges effectively. This report examines how RealPage Commercial can be leveraged for Business Continuity Planning and management, as well as ESG compliance and reporting in the CRE sector.
Business continuity planning is crucial for CRE property managers to minimize downtime and maintain operations during unforeseen events. RealPage Commercial provides several features that support business continuity:
In addition to these features, RealPage Commercial's focus on accuracy and customized capabilities can further support business continuity. For example, the case study of Rojan Investments highlights how RealPage Commercial helped the company adapt and maintain operations during a period of growth and change4. This demonstrates the platform's ability to support businesses through various challenges, including those that may disrupt normal operations.
ESG considerations are increasingly important for CRE property managers, impacting property value, investor relations, and tenant satisfaction. American portfolio investors have quickly adopted ESG practices and are demanding that their investments have ESG policies in place5. Gathering the data and managing the projects required for ESG compliance can be challenging, highlighting the need for effective solutions like RealPage Commercial.
RealPage Commercial offers a range of tools and services to support ESG compliance and reporting:
RealPage Commercial offers a variety of specific features and modules that directly support business continuity and ESG initiatives. These include:
These features contribute to both business continuity, by ensuring efficient operations and communication, and ESG compliance, by facilitating sustainable practices and tenant engagement.
RealPage itself demonstrates a strong commitment to business continuity. They have a comprehensive Enterprise Business Continuity Plan in place, which includes a Crisis Management Team and geographically diverse operations to mitigate risks such as loss of facility, staffing, technology, or key vendors10. This geographic diversity is a key advantage, enabling them to "absorb many shocks that could impact specific cities or regions." 10
RealPage's commitment to ESG is evident in their partnership with Measurabl and their focus on developing solutions that help CRE property managers meet their sustainability goals6.
RealPage Commercial offers flexible pricing options for CRE property managers. The cost varies depending on the type of asset and the specific modules selected.
|
Asset Type |
Starting Price |
|---|---|
|
Office & Retail Assets |
$12.50/month per 10,000 ft² |
|
Industrial Assets |
$7.30/month per 10,000 ft² |
It's important to note that RealPage has faced legal challenges related to its pricing algorithms11. CRE property managers should be aware of these challenges and consider the potential implications when evaluating the cost of RealPage Commercial.
RealPage provides implementation services to help CRE property managers integrate RealPage Commercial into their existing systems and workflows12. The implementation process typically involves data migration, system configuration, and user training. It's crucial to ensure that RealPage Commercial integrates seamlessly with existing property management and accounting systems to avoid data silos and streamline workflows.
RealPage Commercial has received mixed reviews from users. Some users praise its comprehensive features, integration capabilities, and ease of use, while others find it confusing to learn and lacking in certain areas13. When considering RealPage Commercial, it's essential to evaluate the level of customization offered to tailor the platform to specific needs and reporting requirements.
Compared to other similar software solutions, RealPage Commercial stands out for its comprehensive suite of features, including property management, financial management, and ESG reporting capabilities. However, it's essential for CRE property managers to carefully evaluate their needs and consider alternative solutions before making a decision16.
RealPage Commercial offers a comprehensive suite of solutions that can help CRE property managers address the challenges of business continuity planning and ESG compliance. Its features for data backup and recovery, vendor management, financial management, and tenant communication support business continuity by ensuring the protection of critical data, the reliability of vendors, financial stability during crises, and effective communication with tenants during emergencies.
Furthermore, RealPage Commercial's ESG analytics and reporting platform, utility management tools, and sustainability services enable property managers to track and improve their ESG performance. This is crucial in today's market, where investors and tenants are increasingly focused on sustainability. The platform's ability to track energy consumption, water usage, and waste management, along with its integration with building systems for data collection, allows property managers to identify areas for improvement and optimize resource consumption.
While RealPage Commercial offers a robust platform, CRE property managers should carefully consider the cost, implementation process, and potential legal implications related to its pricing algorithms. Evaluating data security measures, customization options, user training and support, and scalability is also crucial to ensure the platform meets specific needs and requirements.
Overall, RealPage Commercial presents a valuable solution for CRE property managers seeking to enhance their operational resilience and sustainability. By leveraging its comprehensive features and services, property managers can effectively plan for business disruptions, comply with ESG standards, and improve their overall operational efficiency.