Electronic signature functionality now available in official NAA and TAA leases
(June 26, 2008) — Multifamily leaders RealPage, Inc., the National and Texas Apartment Associations and Blue Moon Software today announced a new strategic partnership to integrate eSignature technology into the official leases of the National Apartment Association (NAA) and the Texas Apartment Association (TAA). Now RealPage users can offer prospects the ability to electronically execute a secure and legally binding lease, supported by the industry’s two largest apartment associations.
eSignature, a component of the online leasing systems from RealPage, is a simple, safe and quick way for a prospective resident to complete a lease application at his or her personal convenience using an Internet connection. The eSignature inserted into the lease conforms to the June 2000 Electronic Signatures Act, making the signed lease legally binding and admissible in court.
“Innovations in electronic signatures and online leasing are creating never before realized business efficiencies and cost savings for multifamily owners,” said Steve Winn, CEO and president of RealPage. “This partnership enables our clients, and the members of these two leading apartment associations, to utilize a safe and legally enforceable electronic signature to complete the leasing process, regardless of which property management software system they’re using.”
When a password-protected account and personal information is entered through an online portal, a prospect can review a PDF version of their lease application, which cannot be edited. In order to complete the lease using the Internet, the applicant authenticates an electronic signature with three easy steps. The applicant re-enters their password into the system, checks the “I understand and agree” button and selects the “Sign Now” button. Completion of these steps momentarily unlocks the official lease PDF, allowing for the insertion of an “Electronic Signature Authorization” (ESA) seal indicating who signed the form and when. The lease document is immediately relocked and stored as a new legally binding agreement.
“The integration of electronic signatures into our lease forms will save our clients significant time while providing them with a fast and secure method of executing leases,” said Javier Gonzalez, president of Blue Moon Software. “We are honored to work with RealPage, as well as the NAA and TAA, to deliver this value added benefit to our clients.”
To ensure completed National Lease Program documents are not tampered with during the process, OneSite Document Management employs EMC’s Centra Governance Edition to provide trustworthy storage of electronic records and other digital information. The ESA seal uses a secure algorithm to bind the applicant’s identification and authentication with the document thumbprint into a single, unique ESA ID. This ESA ID yields information about the signer, the authentication of the signer, the time and location of the signing event and provides versions of the document prior to signing as well as after the signature is placed into the lease. The digitally stamped ESA seal signifies the document is legally enforceable.
“Our members continue to seek technologies to help them better manage their properties, improve their operations and deliver the amenities and services residents are looking for,” said Doug Culkin, president of the National Apartment Association. “The benefits delivered by this technology meet these needs and furthers our mission to serve the interests of multifamily housing owners, managers, developers and suppliers.”
“Electronic signatures are widely accepted in several other industries and the leadership at the TAA is very excited to see it integrated into the leases we provide to our membership,” said David Hargrove, president of the Texas Apartment Association. “The availability of this technology will enable our members to create operational efficiencies throughout the leasing process ensuring a positive experience for new residents.”
To learn more about this partnership or to schedule an interview with an executive from RealPage, Blue Moon Software, the NAA or the TAA, please contact Marlena DeFalco at marlena@linnelltaylor.com or by calling (303) 682-3943.
About RealPage
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 and LeasingDeskTM point of lease systems that streamline the leasing process. For more information, please call 1-87-REALPAGE or visit www.realpage.com.
About Blue Moon Software
Established in 1992 and based in Austin, Texas, Blue Moon Software specializes in forms processing software. Since inception we have strived to implement the latest technologies available to meet the needs of the forms publishing industry. Our latest Web-based technology called Blue Moon FormsOnline allows you to generate forms and manage lease data from your browser. For more information regarding Blue Moon Software’s products, visit www.bluemoon.com.
About The National Apartment Association
The National Apartment Association (NAA) is America’s leading advocate for quality rental housing. NAA’s mission is to serve the interests of multifamily housing owners, managers, developers and suppliers and maintain a high level of professionalism in the multifamily housing industry to better serve the rental housing needs of the public.
NAA is a federation of nearly 200 state and local affiliates, comprised of more than 51,000 multifamily housing companies representing more than 6.3 million apartment homes throughout the United States and Canada. Members in good standing of any affiliated association are automatically considered members of NAA and entitled to NAA benefits.
NAA’s National Lease powered by Blue Moon Software is the most widely used residential lease in the country. Every four second a new form is printed.
About Texas Apartment Association
Founded in 1963, the Texas Apartment Association, Inc. (TAA) is a non-profit statewide trade association dedicated to unifying rental housing professionals through education, legislative advocacy and member services. TAA is affiliated with the National Apartment Association and local associations in 25 Texas cities. TAA is the only organization in Texas representing all aspects of the rental housing industry with a full-time presence at the state capitol and before more than 20 state regulatory agencies. TAA has more than 10,000 members representing nearly 1.7 million units throughout the state. TAA members are rental housing owners, builders, developers, property management firms and companies that supply products or services to rental properties.