Extends RealPage’s Affordable Housing offerings to include Compliance Monitoring, Auditing and Asset Management among other services
(October 25, 2013) — RealPage, Inc. (NASDAQ: RP), a leading provider of on demand software and software-enabled services to the rental housing industry, today announced that it has acquired Windsor Compliance (www.windsorcompliance.com), a leading provider of compliance monitoring services for the affordable housing industry. The acquisition will extend RealPage’s leading position as a provider of on-demand affordable housing software by becoming the first company in the nation to provide a suite of both critical software and services for the affordable housing industry.
“In addition to our affordable housing software, we will now be able to offer affordable housing compliance monitoring and other services to any investor, owner or management company, regardless of their property management software solution, to help them achieve occupancy and revenue opportunities and reduce back office expenses, while operating within a highly complex and regulated industry,” said Gustavo Sapiurka, senior vice president, property management solutions for RealPage.
Windsor Compliance provides compliance monitoring to more than 30,000 affordable housing units across the country, supporting property owners’, institutional investors’ and managers’ compliance with government programs such as Low Income Housing Tax Credit (Section 42), tax exempt bond, Section 8, HOME, and Rural Development, in addition to file audits, capital needs assessments, physical and due diligence inspections.
“We have revolutionized the way property owners and managers access, store and maintain the vast amounts of compliance data that’s required,” said Gregory Proctor, CEO of Windsor Compliance. “We are excited to bring our industry-leading expertise together with the much larger RealPage organization. This synergy allows us to continue the evolution of our services and technology as the affordable housing industry becomes more complex, providing our clients the best compliance services and solutions to meet state and federal regulations.”
By leveraging Windsor’s experience, affordable housing staff, property owners and managers can avoid costly mistakes, while focusing on the other important facets of their businesses, such as building maintenance, leasing, and resident retention.
“They work as an extension of our staff, monitoring compliance to help us meet the requirements of all the various agencies, which gives us a lot of confidence,” said Michelle Smith, regional manager, AHC Inc.
The Windsor executive, inspection and compliance monitoring teams will continue to operate from the company’s office in Wilmington, N.C. and remote locations.
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides on demand (also referred to as “Software-as-a-Service” or “SaaS”) products and services to apartment communities and single family rentals across the United States. Its on demand product lines include OneSite® property management systems that automate the leasing, renting, management, and accounting of conventional, affordable, tax credit, student living, senior living and military housing properties; LeaseStar™ multichannel managed marketing that enables owners to originate, syndicate, manage and capture leads more effectively and at less overall cost; YieldStar® asset optimization systems that enable owners and managers to optimize rents to achieve the overall highest yield, or combination of rent and occupancy, at each property; Velocity™ billing and utility management services that increase collections and reduce delinquencies; LeasingDesk® risk mitigation systems that are designed to reduce a community’s exposure to risk and liability; OpsTechnology® spend management systems that help owners manage and control operating expenses; and Compliance Depot™ vendor management and qualification services to assist a community in managing its compliance vendor program. Supporting this family of SaaS products is a suite of shared cloud services including electronic payments, document management, decision support and learning. RealPage’s MyNewPlace® subsidiary is one of the largest lead generation apartment and home rental websites, offering apartment owners and managers qualified, prospective residents through subscription, pay-per-lead and LeaseMatch pay-per-lease programs. Through its Propertyware subsidiary, RealPage also provides software and services to single-family rentals and low density, centrally-managed multifamily housing. For more information, call 1-87-REALPAGE or visit www.realpage.com.