> While RealPage might command 80% of the market for this type of software, they only have 12,000 clients. There are over 5.2 million multi-family dwellings in

> While RealPage might command 80% of the market for this type of software, they only have 12,000 clients. There are over 5.2 million multi-family dwellings in the US. Those statistics don't tell us enough to see if this is a problem, though. In the extreme case (obviously this is not true), everyone uses pricing software, so RealPage's 80% is 80% of all dwellings, and those 12,000 clients own 4.2M multi-family dwellings. Also what matters is number of units, not number of multi-family dwellings. Owning a duplex does not give you the same clout over local rentals as, say, owning the only large (at say, 500 units) apartment complex does.