Market Overview

CAPREIT Residential Management Chooses RealPage® Software Following Competitive Review

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RealPage,
Inc.
(NASDAQ: RP),
a leading global provider of software and data analytics to the real
estate industry, announces that CAPREIT
Residential Management
chooses RealPage software, including a
comprehensive financial package that includes Property Accounting,
Corporate Accounting, Enterprise Accounting, Investment Accounting,
Budgeting and Exponential Reporting, for its 12,000-unit portfolio
following a competitive review of property
management software
solutions.

Based in Rockville, Maryland, CAPREIT manages apartment communities
across the United States in various capacities – as full owner, partner
and fee manager. Its portfolio includes conventional, senior and
affordable properties.

CAPREIT COO Miguel Gutierrez explained that it had become clear his
company's effectiveness was being limited by its software mix provided
from various vendors. "We hire the best people with top skills, but
found they were spending too much time on inefficient processes,
paperwork and menial tasks rather than on customer-oriented and
value-add activities," he said. "It became essential for us to free
their time by speeding these tasks—that's what good software is all
about."

Gutierrez also noted a disconnect between company financial and
operational data, leaving management unable to optimize their
decision-making. "Financial and operational reports were completely
separate, and we needed a way to bring this information together for a
multi-dimensional view of our business to help tune-up operations," he
said.

In choosing RealPage, CAPREIT expects to benefit from the close
integration a single-vendor solution can deliver. "When we began the
review, we weren't expecting all the software we needed to come from a
single company," he said. "But RealPage put together a package that made
a lot of sense from a functionality perspective," Gutierrez explained.

In addition to solving existing reporting limitations for CAPREIT,
Gutierrez said RealPage's software will immediately and significantly
reduce the amount of time spent on cumbersome daily tasks within the
company's existing software. For example, processing SODAs (security
deposit reconciliations and reimbursements), which once took two hours
to complete, were finalized in less than one minute with RealPage. "I
spent time surveying people across the CAPREIT business to learn how we
might make them more effective at their jobs. The overwhelming response
from employees was how much easier their experience was at their prior
company because they used RealPage software," said Gutierrez. "This was
a strong indication that the most impactful thing we could give our
people was better, more reliable software with which to do their jobs."

CAPREIT is in the process of implementing a full suite of RealPage
solutions that include Accounting/Financial Suite, Leasing and Rents,
and Enterprise Operating solutions such as resident
screening
, online leasing, mobile facilities, YieldStar revenue
management
, the RealPage Contact Center and the EasyLMS learning
management system
.

For more information about these software solutions offered by RealPage,
please visit www.realpage.com.

About RealPage

RealPage is a leading global provider of software and data analytics to
the real estate industry. Clients use its platform to improve operating
performance and increase capital returns. Founded in 1998 and
headquartered in Richardson, Texas, RealPage currently serves over
11,200 clients worldwide from offices in North America, Europe and Asia.
For more information about the company, visit https://www.realpage.com.

About CAPREIT

Headquartered in Rockville, Maryland, CAPREIT is a fully integrated real
estate operating company that owns and manages apartment communities
throughout the United States. Combining extensive expertise in the
management of multifamily rental housing with strong financial
resources, CAPREIT has been involved with more than 200 multifamily
communities comprising over 40,000 apartment residences. For more
information, please visit https://www.capreit.com.

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