Commercial/Multifamily Briefs, Aug. 22, 2024

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SitusAMC Makes Strategic Decision to Retain Real Estate Valuation Services Business

SitusAMC, New York, announced it made a strategic decision to retain its Real Estate Valuation Services business, in addition to a commitment to invest $20 million of capital to expand technology capabilities for the business.

This followed a period of strategic alternative exploration, SitusAMC said.

The investment will have a particular emphasis on enhancing REVS’ valuation platforms. Its Valuation Management System, a cloud-based platform that provides workflow and data management and real-time reporting Daily Valuation System, will receive a next-generation “VMS Next” platform release. And, its Daily Valuation System platform, which provides a standardized workflow and reporting process for net asset valuation reporting, will see continued investments.

RealPage, Flex Announce Strategic Partnership

RealPage, Richardson, Texas, announced a strategic partnership with Flex, New York, as its preferred technology provider for flexible rent payments.

The integration provides RealPage customers with the ability to use Flex as a payment option for residents with LOFT, RealPage’s resident portal and app. It will allow residents to split their rent into smaller payments. Per a recent RealPage survey, renters say they are interested in flexible payment schedules instead of paying in full once a month.

For property managers, the integration will help promote timely rent collection, enhanced resident experience and improved efficiency.