RealPage Now Offers Tax Credits Integration with Texas Department of Housing and Community Affairs
(March 14, 2006)—RealPage, Inc., a leading provider of products and services to the multifamily industry, today announced that it has successfully integrated its on-demand tax credits software, OneSite© Leasing & Rents Tax Credits, with the Texas Department of Housing and Community Affairs (TDHCA).
OneSite Leasing & Rents Tax Credits is a fully integrated web-based system that automates compliance monitoring and reporting for tax credits properties. The new integration leverages the power of its on-demand architecture to allow electronic submissions of compliance reports to TDHCA.
“Until now, the process of submitting compliance reports to TDHCA had been time-consuming, involving dual entry of compliance data by site personnel into both the TDHCA and RealPage systems in order to monitor program compliance,” said Ranjeev Teelock, vice president of affordable housing for RealPage. “This process not only consumed staff time, but it also provided opportunities for inaccurate reporting due to redundant data entry.”
Now, compliance reporting updates required by TDHCA are seamlessly incorporated and automatically installed. Once compliance data has been input into OneSite Leasing & Rents Tax Credits, it generates an easy-to-read format that allows site personnel to review and identify any missing or incorrect information prior to submission. It then sends the data electronically through web services to instantly populate the TDHCA system.
“We have automated the time-consuming process required to report program compliance,” said Teelock. “This integration will provide site personnel with the confidence that they are accurately reporting all information needed by TDHCA.”
The integration solves what had been glaring problems—the lack of validation in compliance reporting, errors that had been introduced because of dual data entry and excessive time spent on inputting the data. Since OneSite Leasing & Rents Tax Credits is web-based, sites receive instant validation of program compliance reports prior to reporting to the state agency. And, since data only needs to be entered once, errors caused by dual data entry are eliminated and staff time spent on reporting is greatly reduced.
“Because of its validations, I know that the data being reported to our system is accurate and complete,” said Curtis Howe, director of information systems for TDHCA. “Sites can now consistently focus their efforts on providing affordable housing and maintaining program compliance on their properties.”
RealPage is one of the leading providers of affordable software for the multifamily industry. It currently offers two affordable products, OneSite Leasing & Rents Tax Credits and OneSite Leasing & Rents HUD. Both are part of RealPage’s OneSite on-demand property management suite that automates the entire process of leasing, renting and managing apartments, including fast and easy applicant screening, comprehensive facilities maintenance, simplified purchasing and expense controls, professional accounting and convenient online rent payment. For more information on OneSite and other RealPage products and services, please visit www.realpage.com.
About Texas Department of Housing and Community Affairs (TDHCA)
The TDHCA is Texas’s lead agency responsible for affordable housing, community and energy assistance programs, and colonia activities. It annually administers funds in excess of $400 million, the majority of which is derived from mortgage revenue bond financing and refinancing, federal grants and federal tax credits.
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides property management products and services to more than 20,000 apartment communities across the United States. It currently has four major product lines: OneSite© on-demand property management systems that automate property management functions while providing real-time access to important data; CrossFire© on-demand property marketing systems that automate and enhance the process of capturing and entering leads; M/PF YieldStar™ on-demand asset optimization systems that help owners and managers optimize asset values through revenue management, portfolio management and market intelligence and Velocity™ utility management and billing services that help accelerate payments for rent, utility charges, late fees and small balances. For more information, please call 1-87-REALPAGE or visit www.realpage.com.