RealPage, Inc. (NASDAQ:RP), a leading global provider of software and data analytics to the real estate industry, today announced that Camden℠ Property Trust (NYSE: CPT), a publicly traded multifamily REIT with 165 properties across the United States has signed an agreement to deploy RealPage® CommunityConnect Smart Access controls in 50,000 units by the end of 2021. Camden seeks to continue improving its residents’ experience with the single ComunityConnect App that controls community gates, building and corridor doors, and smart access to each unit.
The smart access solution includes proximity readers at each building door that provide a guest or delivery person with proper authorization from the resident to be directed from the gate to the unit door with the aid of smartphone-based in-building navigation. The feature, called CommunityConnect WayFinding, is unique to the RealPage offering. The touchless capabilities of the solution will be appreciated in today’s COVID environment and beyond.
Through CommunityConnect, Camden expects to improve the efficiency of its maintenance staff and greatly eliminate the need for keys/fobs, realizing efficiencies in managing access. With authorization from the resident, maintenance staff will be able to enter a unit to perform maintenance when the resident is not at home, and the system will record, for residents and management, exactly when staff entered the unit. This added security is appreciated by residents and helps explain why Camden has one of the highest Online Reputation Assessment (ORA) scores in the industry, which contributes to higher retention rates and better demand generation.
CommunityConnect’s smart access also enables prospective residents to visit vacant units without a leasing agent accompanying them. This capability is expected to increase leasing velocity when leasing agents are not available for a live tour.
According to Laurie Baker, Executive Vice President of Operations at Camden, “We started looking over two years ago for a smart access control system that worked seamlessly with community gates, existing building and corridor door technologies, and resident units. There simply was not a solution that made economic sense to deploy as a retrofit into our portfolio of 56,000 units located around the U.S. An important objective for us, not found elsewhere, was one resident app to control everything at a price point for the entire system under $300 per door.”
Camden worked with a very innovative team of developers and engineers to re-imagine how smart access could be affordable and offer a fabulous resident experience. They developed a smart building access solution called Chirp which has already been deployed in over half their properties, with smart locks to follow. According to Kristy Simonette, Senior Vice President of Strategic Services & Chief Technology Officer at Camden, “We knew we needed a large technology company to further develop and deliver this solution at scale and to ensure that security and maintainability were addressed. RealPage was the logical choice for us, so we sold Chirp to them and have signed up to use their CommunityConnect App. RealPage will be incorporating some of the more innovative capabilities within Chirp such as WayFinding into the CommunityConnect App. The touchless capabilities of this technology is perfect for today’s COVID environment, and will provide customers with a state-of-the-art technology experience for years to come.”
What is CommunityConnect Smart Access Control?
CommunityConnect is a one-stop shop for community-wide smart access to buildings and units, smart apartment devices, and community-wide high-speed Wi-Fi. Each of these offerings is available stand-alone or in combination with the others as part of a fully managed RealPage solution set. RealPage and its network of partners will perform and manage the design, engineering, procurement, installation and operations of all aspects of the solution, which are managed through a single smartphone app.
CommunityConnect Smart Access delivers integrated smart access control from Sidewalk to Sofa™ and unlocks revenue potential worth several hundred dollars per unit per year and corresponding operating cost savings by eliminating keys. Integrating access to gates, buildings, corridors and units is now affordable for less than $300 per door in capital cost, with paybacks in under 18 months in most communities. To see how it works, link to
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/
Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamliy apartment communities. Camden owns interests in and operates 165 properties containing 56,383 apartment homes across the United States. Upon completion of six properties currently under development, the Company’s portfolio will increase to 58,051 apartment homes in 171 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 13 consecutive years, most recently ranking #18. The Company also received a Glassdoor Employees’ Choice Award in 2020, ranking #25 for large U.S. companies. For more information, please visit https://www.CamdenLiving.com.