RICHARDSON, TEXAS — RealPage has acquired Livble, a flexible-payment company, and will incorporate the new payment technology into two of its own software solutions, LOFT and Buildium. LOFT is a resident-facing app RealPage launched in January.
LOFT’s payment function allows users to pay their rent traditionally, directly from their bank in one lump sum, or residents can pay in two installments. With the Livble technology, residents now can split up payments into up to four installments per month. RealPage assumes nonpayment risk and manages collections should residents not pay. In RealPage’s property management software Buildium, owner-operators will be able to see live payment data in their accounting systems, with reporting on rent collection, cash flow and overdue balances.
LOFT also includes a partnership with Flex, a company that acts similarly to a credit card, where Flex pays the landlord directly, and the resident makes payments back to Flex. Flex does not charge interest, but it does require residents to pay a $14.99 monthly fee.
In addition to rent payments and credit-building, LOFT also allows tenants to fill out an application, sign a lease, register pets, buy renters insurance, hire a mover, order internet and utilities, and earn points and rewards through a loyalty program. Features include fraud-detection technology and an AI assistant to handle leasing chats. About three million units are using the LOFT app, according to RealPage.