SOURCE: NWP Services Corporation

NWP Services Corporation

June 23, 2009 12:05 ET

Prometheus Real Estate Group Inc. Names NWP Services Corporation as Preferred Provider of Resident Billing and Utility Management Services

IRVINE, CA--(Marketwire - June 23, 2009) - NWP Services Corporation (NWP), the leading provider of financial transaction processing solutions for the multifamily housing industry, today announced that Prometheus Real Estate Group Inc. has selected the company as its preferred provider of resident billing and utility management services across its growing portfolio of 20,000 apartment homes nation-wide.

"After carefully and thoroughly vetting different convergent bill products, we felt that the services provided by NWP, and the OneBill product best suited Prometheus considering our relentless pursuit of providing an effortless experience for our neighbors," stated John Ghio, Senior Vice President of Asset Management and Finance for Prometheus Real Estate Group.

Prometheus is one of the largest private owners of multifamily properties in the San Francisco Bay Area specializing in the acquisition, development and management of high quality residential and commercial properties.

"We are pleased to continue in our long-term relationship with Prometheus," stated Bob Smolarski, vice president of client services for NWP. "At NWP, we endeavor each day to delight our customers, large and small, by delivering the market's most robust billing and utility management services and providing the highest quality service, customer support and regulatory expertise. This commitment to our customers not only ensures their chosen NWP programs drive the maximum financial benefit but also provides the utmost in customer satisfaction for their residents," added Smolarski.

The product offering deployed by Prometheus consists of NWP's convergent billing product, Resident OneBill, together with NWP's award-winning utility management product, UtilityPay Manager. The combination of these services enables Prometheus to reduce operational expenses, improve bottom-line revenues and overall asset value of its multifamily apartment communities.

About NWP Services Corporation:

Headquartered in Irvine, California, NWP Services Corporation (NWP) serves the multifamily housing industry as its leading financial transaction processing provider. NWP is known for its industry expertise delivering proven results and exceptional quality in resident billing, resident payment processing and utility management.

Resident billing by NWP helps property owners offset their utility expenses. The company's utility cost recovery team allocates utility charges to residents and prints and sends the bill; NWP's billing options now include convergent-or "rent-inclusive"-billing through its Resident OneBill service. Complementing its billing services, the company's electronic resident payment processing service; called Resident ePay; enables residents to pay their rent, utilities and other monthly charges online or at the rental office with funds transferred to the property's bank account electronically. Resident ePay gives residents convenience and choice and enables owners to access cash faster. In addition, with its UtilityPay Manager program, NWP processes and pays invoices sent to customers' properties by utility companies. UtilityPay Manager helps customers reduce time spent on administrative bill payment work and provides them with valuable utility data and additional cost management opportunities, including recovering expenses from residents when they fail to transfer utilities into their own name.

NWP's offerings are available as individual services or as a fully integrated solution and are designed to accelerate the financial performance of our customers, allowing them to recover and reduce operating costs, create operational efficiencies, improve NOI and FFO and boost resident satisfaction. Additional information is available at www.nwpsc.com.

Contact Information

  • Contact for NWP Services Corporation:
    David Collins
    949-253-2589
    Email Contact