Revolutionary network links sites to contract administrators for secure exchange of information
(April 4, 2005)—Housing and Development Software (HDS), a provider of software and management solutions to housing finance and community development agencies, and RealPage, Inc., a leading provider of products and services to the multifamily industry, today announced the availability of CA Net™, which links affordable property sites to contract administrators (CAs) for real-time, secure exchange of TRACS, Special Claims and other management information.
Until now, the TRACS reporting process has involved a frustrating, time-consuming and pressured “back and forth” between sites and CAs to validate data for submission to HUD. This monthly reporting process can tie up 40 percent of the average site staff’s time. Further, reimbursements for Special Claims are often overlooked due to incomplete data.
The integration with CAs will solve both problems through automation, replacing the inefficient manual processes that have impacted efficiency, HUD compensation and profitability in the affordable sector.
CA Net automatically identifies any missing or incorrect information coming from the properties so that it can be quickly and easily addressed before submission to the CAs or HUD. Both properties and CAs are able to easily meet their reporting deadlines, with accurate information, and with greatly reduced use of staff time.
“The days of panicking as reporting deadlines loom are over,” said Ranjeev Teelok, vice president of affordable housing at RealPage. “CA Net will revolutionize and streamline the affordable sector as a whole.”
“Our new web-based solutions for affordable properties are quickly becoming the industry standard, and HDS has been the leader in CA software for a number of years,” Teelock added. “Now, customers will have the best of both worlds, and a seamless link between sites and CAs that will make them not only more efficient, but also more profitable.”
By migrating to OneSite, current users of RealPage’s DOS-based HUDManager© 2000 and MicroHUD© 2000 will also be able to take advantage of CA Net. The TRACS data from sites using OneSite will be pre-verified as accurate, and the data will get to CAs complete and on time.”
“We’ve all heard of win-win scenarios, but I believe this is win-win-win,” said Matt Gilson, president of Housing and Development Software. “The benefits to both CAs and properties are obvious. And, more efficiency means more money can be spent on the people who need affordable housing—so HUD and the people they serve win, too.”
RealPage’s OneSite is an integrated, web-based 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.
About Housing and Development Software
Housing and Development Software, located in Weston, Florida, is in the business of providing computer software products, programming services and marketing and consulting services to the Housing Finance and Community Development Agency market. Services provided include Single Family MRB Loan Administration, Section 8 Contract Admin Service Bureau and Loan Servicing. For more information, visit www.hdsoftware.com.
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; CrossFire™, an on-demand property marketing system that automates and enhances the process of capturing and entering leads; and YieldStar™, an on-demand asset management system that helps owners and asset managers optimize asset values through revenue management, portfolio management and market intelligence. For more information, visit www.realpage.com.