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Practical Technologies Founder Paul Mitnick Joins RealPage As Chief Product Officer

(August 6, 2001) — RealPage, Inc., a leading provider of property management products and services to the multifamily industry, today announced that Paul Mitnick, founder and president of Practical Technologies, Inc. and creator of the WIZ property management system, has joined RealPage as chief product officer.

“We are delighted that Paul is joining RealPage,” said Steve Winn, CEO of RealPage. “Paul has been helping us develop OneSiteTM for some time now, so we are pleased that he has agreed to expand that relationship and join us on a full-time basis. His knowledge of the multifamily industry and his technological expertise will be invaluable as RealPage and OneSite move forward.”

“RealPage is a perfect strategic fit for WIZ and myself,” said Mitnick. “When it became apparent that web-based applications would eventually replace DOS- and Windows-based applications, I spent many months evaluating numerous companies and concluded that RealPage had the vision, management team and financial resources to deploy the best and most complete overall web solution.”

As chief product officer, Mitnick will oversee continued development of OneSite. Dean Schmidt, who previously headed up product management functions at RealPage, will become chief operating officer responsible for all sales, marketing and customer care functions. Combined, Mitnick and Schmidt create a strong team with over 50 years of combined experience in the multifamily industry.

Mitnick joins RealPage as OneSite Leasing, OneSite Rents, OneSite Facilities and OneSite Learning are currently undergoing parallel testing on customer sites. These four OneSite product centers will join OneSite Screening and OneSite Property in general availability this year.

Prior to founding Practical Technologies, Mitnick served for 11 years as president of Computech Systems, Inc., the technology arm of Sam Zell’s Equity Group Investments, which included Equity Residential Properties.

OneSite is the first web-based, completely integrated property management system for the multifamily industry. Its nine product centers—OneSite Leasing (which includes OneSite Screening), OneSite Rents, OneSite Facilities, OneSite Property, OneSite Market, OneSite Compliance, OneSite Learning, OneSite Revenue Management and OneSite Accounting & Budgeting—form a comprehensive suite of e-business, browser-based tools that fully automate important property management functions.

More than 20,000 sites across the United States use RealPage’s products and services, which handle the entire management process for both affordable and conventional properties, including leasing, applicant screening, market intelligence, accounting, budgeting, property management, facilities management, marketing and compliance reporting.

RealPage is headquartered in Carrollton, Texas, a suburb of Dallas, with offices in Atlanta, Georgia, and Burlington, Vermont. It is the combination of four industry leaders: Rent Roll, Inc., the largest developer of multifamily property management software; RealPage Communications, Inc., the premier designer of custom web sites for the real estate industry; M/PF Research, Inc., the leader in apartment market research; and ChannelTECH, Inc., a leading provider of facility management applications for handheld wireless computing devices.

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