By linking rent to payroll throughout the month before rent is due, we help our residents to budget their money for their largest monthly expense, which works better for everyone involved.
Boston, MA (PRWEB) June 15, 2017
Neighborhood Pay Services (NPS), the leader in rent assurance for multifamily housing industry and the originators of NPS Rent From Payroll, announced today the signing of three new leading multifamily clients: JRK Property Holdings, Federal Capital Partners, and Easlan Management.
These companies, which own and/or manage over 60,000 apartment units throughout the U.S., have deployed the NPS Rent Assurance® payroll direct deposit platform as a more effective option to higher security deposits for millions of consumers with credit scores of 650 or below, or approximately one-third of all renters. By lowering costs to obtain a rental lease, and providing an automated mechanism for improved rent budgeting, property companies are able to increase occupancy while reducing payment risk.
“As a company we’re committed to finding solutions that help more hard working families accept a rental lease without creating a financial burden to them or our communities,” notes Tom Manzo, Residential Group President at JRK Property Holdings. “By linking rent to payroll throughout the month before rent is due, we help our residents to budget their money for their largest monthly expense, which works better for everyone involved.”
While all three clients are focusing on improving rental applicant conversions, both Federal Capital Partners and Easlan Management will also be utilizing the NPS platform to assist residents who habitually pay late to avoid penalties and/or eviction.
For more information on programs that work to make more leases within the reach of a greater number of future renters, download, False Sense of Security, a recent report on how security deposits are being used across the country, and programs in place to make rental leases more affordable.
About NPS Rent Assurance
NPS Rent Assurance is the originator of Rent From Payroll and the only rent from payroll direct deposit platform providing the multifamily industry with a proven solution for building incremental occupancy with improved payment performance from conditionally approved residents. The company's simple, ‘hands-off’ program receives payroll direct deposits from a resident's employer each pay period with built-in safeguards against 'pull back' before rent is due. NPS Rent Assurance is offered exclusively through apartment leasing offices as a key component of conditional lease offers as well as a mechanism to automate work-out plans for existing residents who fall behind in their lease obligations.