Property management software company RealPage has acquired Livble, a flexible rent payment provider, in a move that expands RealPage’s reach into financial tools for renters and property managers. Financial terms of the deal were not disclosed.
The deal brings Livble’s installment-based rent payment system into RealPage’s LOFT and Buildium platforms. Livble allows eligible renters to divide their rent into as many as four monthly payments.
In turn, property managers receive full payment on time while RealPage assumes all non-payment risk and manages collections.
“This strategic acquisition underscores RealPage’s commitment to enhancing the resident experience,” said Dana Jones, CEO and president of RealPage. “Offering more financial flexibility for renters while enabling our customers to operate more efficiently is exactly the type of innovation we strive to deliver at RealPage.
“Integrating Livble builds on the remarkable momentum we’ve achieved with LOFT in such a short period, and we’re equally excited to bring this powerful solution to our Buildium customers.”
RealPage said the integration will streamline payment processing and eliminate the need for additional third-party vendors. Property managers will also gain access to real-time ledger reporting and improved financial transparency, according to the company.
Livble’s platform will become part of RealPage’s LOFT system, which currently serves more than 3 million rental units. The LOFT app consolidates services such as leasing, payments, move-in logistics and rewards.
“RealPage and Livble have a shared vision to redefine the rent payment experience. By joining forces, we will accelerate the adoption of flexible payment options at scale for both property managers and residents,” said Josh Ehrlich, co-founder and CEO of Livble.
“We’re incredibly proud of what we’ve built, and this acquisition is a powerful validation of our vision and innovation. Together, we’ll accelerate our mission to make financial wellness a reality for millions of renters. We are just getting started.”
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