CLEVELAND — March 24, 2009— The John Stewart Company is managing a portfolio of 25,000 affordable housing units covering more than 330 California properties with a solution offered through Intuit Real Estate Solutions and powered by Bostonpost Technology.
John Stewart, or JSCo, is a full-service housing management, development and consulting organization in California. It sought a streamlined, hosted solution for all of its affordable housing and tax credit compliance and administration needs. Intuit Real Estate Solutions, a division of Intuit Inc. (Nasdaq: INTU), provides real estate management, portfolio management and accounting software solutions to the global real estate industry. Bostonpost is a New Hampshire-based company specializing in comprehensive software, services and support for apartment units funded through affordable housing programs.
“Our portfolio dictates a diverse mix of regulatory requirements,” said Michael Smith-Heimer, chief financial officer at JSCo. “We need to ensure, given where the market has gone, that we remain in compliance and improve our consistency and efficiency the best we can.”
By working with Bostonpost Technology, IRES can offer clients like JSCo a solution that meets all its compliance and administrative needs, including those administered by the federal Housing and Urban Development and Agriculture departments. The IRES and Bostonpost solution reduces the administrative workload on property managers and increases compliance with affordable housing funding programs. In addition, it was designed to handle the complex mix of funding programs that are common today, making it intuitive and easy to work with.
It also automates routine processing of leasing activities, while dramatically reducing time spent on compliance enforcement, documentation and reporting to finance agencies and regulators. “We have been very impressed with the technical support people assisting with our implementation. This team has a good working knowledge about this business,” said Smith-Heimer.
“Our goal is to deliver technology solutions that enable our clients to drive improvements in operating efficiency required in today’s challenging market environment. Our partnership with Bostonpost is a critical component in delivering a best in class solution for clients like John Stewart,” said Jeff Thompson, division president of IRES.
About Intuit Real Estate Solutions
Intuit Real Estate Solutions offers business management solutions to the global property management industry as well as to corporate real estate managers. Offering the most flexible solutions with both outsourced hosted offerings and packaged enterprise software, Intuit Real Estate Solutions develops long-term successful relationships with its clients. The business currently has more than 4,500 installations on five continents and in 41 countries. For more information, visit www.realestate.intuit.com.
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax® software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit’s leading tax preparation software suites for professional accountants. The company’s financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.
Founded in 1983, Intuit had annual revenue of $3.1 billion in its fiscal year 2008. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom and other locations. More information can be found at www.intuit.com.
About John Stewart Company
The John Stewart Company was founded more than 30 years ago and currently manages over 350 properties and 30,000 housing units throughout the California housing market. While these properties span a diverse range of communities, from public housing to apartment communities with rents among the highest in the state, JSCo has a strong reputation for managing the regulatory, management and human challenges facing the broad spectrum of affordable housing communities.
From its headquarters in San Francisco and regional offices in Sacramento, Scotts Valley, Los Angeles and San Diego, the company employs over 1,300 people to assure management and regulatory compliance for properties with rental receipts in excess of $250 million annually. And while JSCo also provides construction management, project development and financial consulting services, comprehensive housing management remains the foundation of the company’s business. Their goal is to provide secure, service oriented, well maintained and professionally managed housing that serves the interests of residents and owners alike, creating communities that foster physical, social, and emotional well being among their residents.
About Bostonpost Technology
Founded in 1996, Bostonpost Technology specializes in helping property managers adopt Web-based technology to reduce administrative costs associated with managing affordable housing.