Company News

Buyers Access Partners with NPS Rent Assurance to Provide Rent From Payroll Platform

by Michelle N. on 12/5/2017 11:43:00 AM

Published on Tuesday, 05 December 2017 11:19
December 05, 2017 (PRWEB)

Buyers Access® (BA) announced today a partnership with NPS Rent Assurance® (NPS), the leading Rent From Payroll® platform serving the multifamily rental housing industry. BA member companies will now have additional options available to extend lease offers that lead to higher conversion rates, lower delinquency and defaults, and increased retention/lower turnover costs. With this new network purchasing solution, exclusive NPS platform pricing will be provided as a benefit to BA member companies.

“Adding NPS Rent Assurance as a supplier partner supplements our service offering with a proven solution for timely rent delivery through payroll direct deposit,” says Jeff Peterson, Vice President, Buyers Access. “NPS has a long history of working with property owners and operators of all sizes across the U.S. to convert and retain residents who might otherwise have challenges securing a lease, or staying current on their rent payments.”

“We are excited to be working with Buyers Access and to offer enhanced leasing opportunities at member communities,” says Richard A. Levitan, president of Neighborhood Pay Services, parent company to NPS Rent Assurance. “As a better alternative to guarantors or higher security deposits, rent from payroll offers property owners and managers a superior means to convert more approved applicants while improving net operating income, decreasing delinquency, and increasing resident length of stay.”

NPS data shows that lease offers that include a rent from payroll option increase conversion rates by more than 57 percent for conditionally approved applicants, and that after move-in these residents perform on par with their higher credit counterparts, staying an average of 600 days, or twice the industry average. The program also delivers a 77 percent reduction in unexpected move-outs among conditionally approved residents, while providing the only industry tool available that provides real-time insights of resident performance after move-in each month before rent is due.

“We know that Buyers Access members will value the reduction in unexpected skips and evictions that our platform delivers, as well as the opportunity to offer services to existing residents at renewal who have a history of late payments,” Levitan added.

About Buyers Access
Buyers Access (BA) is the country’s leading provider of customized purchasing solutions, serving more than half a million member units in the multifamily space.

About Neighborhood Pay Services
Neighborhood Pay Services (NPS) specializes in programs that mitigate payment risk in a diverse credit environment where traditional payment tools do not adequately address the financial needs of millions of Americans. The company pioneered the concept of NPS Rent Assurance® with NPS Rent From Payroll®, considered the gold standard in risk reduction in the rental housing industry. As a SaaS provider, NPS leads in the payment assurance category through direct deposit from payroll for recurring charges. In 2016, NPS was recognized by NACHA -The Electronic Payment Association® with the Kevin O’Brien ACH Network Award for Excellence in the Advancement of Electronic Payments, and by as a NACHA ACH Innovator in 2016 and 2017.