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New Point of Lease Systems Expedite Every Step of Lease Execution

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RISMEDIA, July 3, 2007—LeasingDesk, a wholly owned subsidiary of RealPage, Inc., announced an expanded suite of solutions that simplifies and expedites the leasing process for multifamily communities. The comprehensive offering streamlines the execution of leases by automating processes at the point of lease.

For the first time, the entire point-of-lease workflow is a streamlined process that’s fast, easy and efficient. The enhanced offering includes online leasing, resident screening, electronic lease document management, eSignature capabilities, a security deposit alternative and renter’s insurance. According to the company, with the LeasingDesk suite in place, owners enable prospective residents to complete the entire leasing process online, from application to a legally binding eSignature, 24-hours a day, seven days a week from anywhere with an Internet connection.

“LeasingDesk continues to design solutions that exceed the evolving needs of the multifamily industry,” explains Dirk Wakeham, president of LeasingDesk. “We recognize more residents are conducting business via the Internet, so our new point-of-lease solution packages every step of the leasing process online. Owners gain improved efficiencies and profitability while residents can lease apartments quickly and easily from their personal computers.”

The point-of-lease solution interfaces with most popular property management software systems, so owners can use existing marketing tools to attract prospects and LeasingDesk to execute the leases with unprecedented efficiency. For RealPage users, the suite of LeasingDesk solutions integrates with OneSite® Leasing & Rents to keep all property management information centralized and streamlined.

To further improve workflow, all resident information is stored in a secure electronic document management system that allows users to retrieve and archive sensitive and legally binding documents related to resident lease obligations.

Suite of Components

LeasingDesk eForms & eSignatures give owners the benefit of using electronic leasing forms and addenda to execute critical documents online quickly, easily and consistently. To further streamline the leasing process and add office efficiencies, owners can use the best-practice electronic forms built into the system, customize them or upload existing documents in Microsoft® Word or PDF formats.

Online applicants are provided with the necessary documents and are walked step by step through the leasing process. Prospects enter their information once and it is automatically inserted into all relevant lease documents. To ensure nothing falls through the cracks, all forms are kept in a secure, easily accessible electronic document library or “file cabinet.”

Once the application is received, LeasingDesk Resident Screening scores the prospect using a highly accurate model to predict future default and payment behavior. It accesses multiple databases, including top credit bureaus, criminal and terrorist, eviction and resident history and insufficient funds check data. Owners also benefit from access to Renter’s Performance™, RealPage’s proprietary rental history database, the most extensive and comprehensive in the multifamily industry, and an increasingly important fraud and identity theft detection. The system provides a rental recommendation within 15 seconds, based on a complex scoring algorithm customized to meet each owner’s specific criteria.

Now that the prospective resident has completed the leasing eForms and passed LeasingDesk Resident Screening, the lease needs to be finalized. LeasingDesk enables prospective residents to execute an electronic lease, from anywhere with an Internet connection, using its eSignature technology. eSignature conforms to the June 2000 Electronic Signatures Act, making an electronic signature legally binding and admissible in court. Each electronic lease is stamped with an “Electronic Signature Authentication” seal containing detailed information about the lessee and the document imprint, and stored in the “electronic file cabinet” to preserve document integrity and allow ease of future retrieval.

DepositFree™ provides residents with a cost-effective alternative to the traditional security deposit. Residents purchase a one-time, non-refundable surety bond that guarantees their financial responsibility in the event of unpaid rent or damages. The solution minimizes an owner’s financial risk, helps attract residents who are acceptable credit risks and reduces move-in costs for residents.

LeasingDesk’s flagship offering is Renter’s Insurance, marketed under the name eRenterPlanSM. Requiring renter’s or liability insurance as a condition of residency is a proven and easy way to mitigate risk exposure caused by resident negligence.

According to the company, LeasingDesk makes it easy to implement a comprehensive renter’s insurance program because residents are pre-approved for coverage as soon as the lease is executed. Owners who require residents to show proof of liability insurance benefit from reduced risk and improved profitability. Additionally, LeasingDesk offers RenterProtection™, a community blanket insurance policy paid for by the owner that delivers supplemental protection against financial loss due to resident-caused damage.

To schedule an interview with a LeasingDesk executive, or to learn more about LeasingDesk, please contact Don Canfield at don@linnelltaylor.com or at 303-684-0300 ext. 123.

For more information call 888-484-7132.

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