Income Building / Properties

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Bottom Line Results with Rent From Payroll

NPS improves reliability and delivery of on-time monthly rent payments by receiving “installments” toward rent each pay period directly from the resident’s employer (or primary income source such as Social Security, pension, VA benefits, etc.). This, in turn, results in our clients’ willingness to lower up-front security deposit requirements and convert more prospects into residents.

Property clients are highly motivated to integrate the NPS solution into their acceptance strategy in order to increase applicant conversion rates, capture incremental occupancy and safeguard against moving in future problem payers.

Voluntary enrollment in NPS Rent Assurance serves as the ultimate screening device for prospective residents as the applicant who agrees to our program is telling the community they want to do whatever it takes to get the apartment they want, including initiating direct deposit from their payroll to make sure their rent is paid on time.

Improved ability to predict cash flow and service debt are additional program benefits tied to NPS Rent Assurance as are applications for workout programs to help existing residents in arrears to get back and stay on track.

 

Delivering Value

NPS Rent Assurance delivers...

  • 35% higher move-in rate with conditionally approved renters.
  • 5-10% increase in NOI in the conditionally approved category.
  • 70% reduction in early move-outs among conditionally approved residents.
  • A proven solution for persistent late payers and an alternative to eviction. Residents who enroll with Rent Assurance as a ‘second chance’ to keep their apartment homes extend their tenure at a community by >450 days.
  • An efficient and lower cost alternative to money orders through the NPS Prepaid Card Program for residents who may be unbanked or underbanked.

  Download NPS reports on industry trends and innovations for improved payment performance from residents approved conditionally based on credit.

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