RealPage, Inc. (NASDAQ:RP), a leading global provider of software and data analytics to the real estate industry, today launched the RealPage® Waste Management Solution, an AI-based solution that revolutionizes multifamily waste and recycling management. The RealPage Waste Management Solution enables property management companies to reduce waste-related expenses while boosting net operating income (NOI) and sustainability easily and dramatically. It represents the latest addition to the RealPage suite of Sustainability products.
The RealPage Waste Management Solution employs camera-based IoT, AI and RealPage’s utility management platform to optimize dumpster capacity and prevent costly fines for contaminated recycling. Its cameras monitor the fullness, content, pickups, contamination levels and location of each container at a property. Alerts are sent to properties when issues are detected so site teams can take immediate remedial action.
The RealPage Waste Management Solution also reports cost, scheduling and pickup metrics to provide portfolio-wide visibility into waste operations and vendor services. In early trials, the solution has demonstrated that it can reduce the cost of managing waste at apartment communities by an average of 40% while also helping ensure that sustainability reporting requirements and government mandates are met.
Jason Lindwall, SVP of Utility Management at RealPage, said the current number of stay-at-home residents has cast a spotlight on waste management. “With millions of residents working from home, the pressure on multifamily managers to efficiently manage waste and utilities with reduced on-site staff is enormous,” he explained. “The RealPage Waste Management Solution represents a radical advancement in multifamily sustainability even in normal times. Now you can remotely monitor and control every aspect of your portfolio’s waste in near real-time, and it’s easy enough for any property manager to use.”
Lindwall added that many studies have shown that there is a bonus benefit in gratifying today’s environmentally conscious renters. Owners benefit, too, because sustainably managed properties rent for more and have a higher property value.
Portions of the system were developed by Compology, a leader in waste management solutions in other industries. “We’re excited to be RealPage’s exclusive partner in bringing our waste metering technology to the multifamily market,” said Jason Gates, Chief Executive Officer and Co-founder of Compology. “We built our company on the simple concept of using technology to improve the efficiency and sustainability of waste collection. Partnering with a company like RealPage allows us to expand our capacity to help property owners and managers save on waste costs, produce cleaner recycling streams and reduce their environmental footprint on a national scale.”
For more information about the RealPage Waste Management Solution, please visit https://www.realpage.com/videos/waste-management-ai-drives-noi/.
RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency in asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves approximately 19 million units worldwide from offices in North America, Europe and Asia. For more information about RealPage, please visit https://www.RealPage.com.
As the only provider of camera based IoT and Artificial Intelligence solutions in waste and transportation, Compology helps move the world’s raw material, finished goods and waste with the smallest footprint possible. Headquartered in San Francisco, Compology delivers unprecedented visibility to both the waste and trucking industries, serving some of the largest Fortune 500 companies, property management firms, waste hauling and trucking companies, waste brokers and services providers, and cities and universities. Each industry uniquely applies Compology’s core data points—fullness, content, location and activity—to operate more efficiently and sustainably. Visit www.compology.com for more information.