RealPage© On-Demand Tax Credits Software Drives Compliance at the Site Level
(March 22, 2005)—RealPage, Inc., a leading provider of products and services to the multifamily industry, has announced that it has put into general release its web-based tax credits system, OneSite© Leasing & Rents Tax Credits.
OneSite Leasing & Rents Tax Credits automates compliance monitoring and reporting for tax credits properties, driving compliance at the site level. The system gathers and processes data accurately and intuitively to avoid costly recapture situations, assuring site managers that LIHTC rules are checked and enforced when qualifying prospects, re-certifying residents and monitoring program-applicable fractions.
“We’ve taken the guesswork and uncertainty out of managing tax credits properties,” said Ranjeev Teelock, vice president of affordable housing for RealPage. “Most of the common tasks are either automated or wizard-driven, allowing users to pre-qualify, interview, credit screen and certify applicants easily while reducing errors and increasing efficiency.”
Since the system is web-based, compliance updates, regulation changes and other application updates are seamlessly incorporated and automatically installed.
In addition to supporting the LIHTC-compliance requirements, OneSite Leasing & Rents Tax Credits accommodates local and regional compliance programs. The system setup is flexible enough to accommodate virtually any type of set-aside. It generates the necessary tax credits verification letters, tenant income certification and state reporting documentation as well as supporting all state reporting requirements.
“Because of its automation and integration, I know that all my data is accurate and all my sites are in compliance,” said Michelle Custer, director of operations for Centrum Management. “Plus, the documentation generated by the system for our tenant files looks professional and is easy to audit.”
OneSite Leasing & Rents Tax Credits is a fully integrated, one-stop solution for all affordable housing needs, offering applicant screening, facilities maintenance, accounting and reporting.
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 three major product lines: OneSite©, an on-demand property management system that automates property management functions while providing real-time access to important data; CrossFireTM, an on-demand property marketing system that automates and enhances the process of capturing and entering leads, provides tools for retaining residents and provides a convenient means for residents to sign up for utilities and other services; and YieldStarTM, an on-demand asset management system that helps owners and managers optimize asset values through revenue management, portfolio management and market intelligence.