(March 19, 2008) – RealPage, Inc., a leading provider of on-demand software and services to the multifamily industry, today announced receipt of its final 2007 SAS 70 Type II report for the period ended December 15, 2007, assessing the company’s compliance with a set of control objectives, specified by the management of RealPage and designed to ensure the integrity of transaction processing and overall security of client data hosted applicable to its OneSite© property management system. The SAS 70 service was performed by Grant Thornton LLP.
The Statement on Audit Standards No. 70 (SAS 70) was developed by the AICPA to provide guidance to client organization and their auditors who are looking to service organization such as RealPage, to perform processing and have internal controls in place that are relevant to the client organization’s financial statements. The SAS 70 report guidance articulates the requirements for assessing four items: the fair presentation of management’s content:encoded of controls, the suitability of the design of management’s controls, whether the controls are in place as of a specified date, and whether the controls operated with sufficient effectiveness to determine that management’s control objectives were achieved. The SAS 70 report may be used by external auditors of RealPage’s clients to better understand internal controls at RealPage and the results of tests applied to those controls that would be relevant to the clients’ auditors’ performance of financial statement audits.
“The SAS 70 report means for the fourth straight year our clients will not have to spend time and money sending their own auditors to test controls at RealPage in order to satisfy their financial reporting and controls obligations under Sarbanes-Oxley,” said Norman Denler, Chief Technical Officer.
RealPage plans to continue to complete SAS 70 examinations going forward. The company has already received security certification from CyberTrust and Payment Card Industry (PCI).
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides products and services to more than 20,000 apartment communities across the United States. Its six on-demand product lines include OneSite© property management systems that automate the leasing, renting, management, and accounting of conventional, affordable, and student housing properties; CrossFire© sales and marketing systems that boost occupancy and build retention; YieldStar© asset optimization systems that maximize asset valuation and investment return; VelocityTM utility and billing services that accelerate payments for resident charges; LeasingDeskTM point of lease systems that streamline the leasing process; and StarFireTM entertainment and communication services that create IP-connected communities. For more information, please call 1-87-REALPAGE or visit www.realpage.com.