Carrollton, Texas—A wholly owned subsidiary of RealPage Inc. has acquired the assets and selected liabilities of Compliance Depot, a provider of vendor risk management (or “credentialing”) and compliance services to the multifamily housing industry.
RealPage expects existing management of Compliance Depot to remain with the business. Based in Plano, Texas, Compliance Depot helps property owners reduce exposure to litigation, uninsured losses, compliance with federal law, the potential for fraud and abuse, and reputational damage caused by suppliers that are not properly credentialed to perform work for owners. The company reports that over 45 percent of vendors have experienced a lapse in general liability coverage in the past two years.
Compliance Depot provides its services for an annual subscription fee, paid by each vendor for each property that is protected.