MRI Software Announces Acquisition of VaultWare
- Dec 21, 2011
Cleveland—MRI Software LLC, a developer of real estate management and investment software solutions for the global real estate industry, announced that it has acquired Realty DataTrust Corporation, the holding company for VaultWare.
VaultWare specializes in consumer-focused apartment marketing and leasing for the multifamily market. The software helps property managers reach and communicate with apartment hunters online, pre-qualify prospects and convert applicants into tenants. Additionally, applicants can check availability of apartment units and reserve specific units online, which streamlines the apartment search and leasing process. VaultWare’s mobile solutions support mobile device compatible websites, and enable property leasing staff to access inventory, property photos, videos and site plans from an Apple iPad while giving tours of a property. VaultWare also offers vacancy and rental rate data to apartment owners, marketing executives and apartment brokers for business decisions. In the past year, approximately 15 million unique apartment availability inquiries were made using the VaultWare solution.
The new, combined entity will provide MRI’s customers with an automated lease-management solution that will be integrated into MRI’s property management and accounting systems. VaultWare will receive MRI’s client support and professional services capabilities, SaaS (Software-as-a-Service) environment, and the additional product investments possible with a larger organization.
Mike Mueller, chief executive officer of VaultWare, said in a press statement, “The marriage of VaultWare to MRI Software completes a big part of the vision I set out for our industry 17 years ago. The rental prospect now has an end-to-end solution, combining our industry-leading reservations system and marketing tools with the superior back-end resident functionality of the MRI property management and accounting package.”