How RealPage makes going green affordable for US multifamily
Aiming to cut the cost of sustainability across the US rental market, RealPage, a major residential software and data analytics provider, has partnered with ESG tech startup Measurabl.
Measurabl, which has in the last year struck a partnership with Colliers and completed a $50m fundraise, helps landlords and managers collect sustainability data, assess exposure to physical climate risk and decarbonise their assets.
Headquartered in Texas, RealPage operates across more than 19m homes worldwide in a range of rental property types.
In its announcement, RealPage cited a survey from the National Multifamily Housing Council, which showed that 73% of respondents are interested in – or will not rent an apartment without – sustainability or green initiatives.
Matt Ellis, founder and CEO of Measurabl, has previously said: “We’re heading towards a convergence where ESG indicators are held in comparable esteem to traditional financial metrics.”
How to measure sustainability
Measurabl automatically collects data from disparate sources in a building or portfolio, collecting it in one place.
Used by real estate owners, managers, investors and lenders with portfolios totalling 11bn sq ft across 80 countries, the platform has nine key features:
- Automated utility data collection and verification: Measurabl gathers meter-level electricity, water, fuel and waste data
- Physical climate risk: with integrated global physical climate risk data, users can assess exposure to heat stress, flooding and other factors at an asset level
- Carbon emissions calculations: the software can automatically calculate Scope 1 and 2 greenhouse gas emissions to determine individual building performance
- Cohort insights: users can compare building- and portfolio-level ESG performance to about 55,000 buildings in Measurabl’s database
- ESG disclosure: built-in reporting modules to help disclosing to ESG benchmarks like GRESB and CDP
- Sustainable building management: ability to view and renew green building certifications (LEED, BREEAM, etc.) and manage asset-level projects, audits and ratings
- Document repository: users can track their ESG policies and procedures alongside environmental data in the Measurabl platform
- Target setting: users can set and track progress towards environmental goals
- Building trend analysis: Measurabl can visualise and track trends across several metrics – energy and water consumption, waste outputs, carbon emissions – and compare performance against other factors
The partnership will combine Measurabl’s features with RealPage’s products, which include automated leasing, renting and accounting services; sales and marketing software; and resident services.
Kamal Qatato, SVP for smart building solutions for RealPage, said: “Our customers are making big ESG and sustainability commitments that require expertise, market insights and simplified automation.
“Our partnership is ultimately about helping more of our customers that are expense-conscious and time-strapped reap the profitable benefits of sustainability quicker and more easily.”