Neighborhood Pay Services /NPS Rent
Newton Upper Falls, MA 02464, US
NPS Rent Assurance® is Rent From Payroll®, the only 100% direct deposit platform delivering improved payment reliability from renters w/sub-par credit and a proven solution for landlords to offer more affordable lease options w/o high upfront costs.
Neighborhood Pay Services is the leader in payment assurance for the $400B Rental Housing industry, serving property owners and managers of all sizes (2,500 to 60,000 units) and the 30 percent of all rental applicants with less than perfect credit (10MM+) who need assistance qualifying for a lease and delivering their rent on time. We solve for timely and assured rent delivery from this higher risk renter segment (based on credit) and are the only rent budgeting tool tied to payroll deposits.
NPS improves reliability and delivery of on-time monthly rent 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 costs and convert more prospects through conditional lease offers. We complement resident credit screening by shifting the landlord tenant dynamic in the tenant’s favor with a new metric in credit worthiness based on participation in rent budgeting via rent from payroll. For property clients, NPS helps improve lead to lease conversion rates by more than 50% and reduce renter defaults and/or write-offs due to non-payment by more than 75%, mitigating the risk in serving this growing renter segment that has the financial wherewithal to contribute to bottom line performance when committed to the financial discipline that makes rent the number one monthly payment priority. Our program enables properties to expand and sustain their resident population, directly impacting revenue. For renters with less than perfect credit, including the estimated 50+ million under-banked consumers in the U.S., NPS Rent Assurance is a practical and affordable solution to gain access to professionally managed rental housing w/o prohibitive security deposits at move-in charged by communities as a hedge against future payment risk.
Products / Services
NPS Rent Assurance / Rent From Payroll
Proven rent budgeting tool based on 100% ACH driven platform for rent.
President Business Development
Rich Levitan has 25+ years of extensive experience in the development and management of distribution partnerships in the financial services industry with a focus on program and product development for credit challenged and underbanked consumers. Prior to joining Neighborhood Pay Services, he served as a Managing Director and a Limited Partner of the Kessler Group, the premier strategy, consulting, marketing and investment-banking firm in the payment products industry. At Kessler, Rich helped to develop and manage the relationship and directed marketing activity for several of the industry’s largest distribution partnerships and their partner banks including MBNA, HSBC, Bank of America, and American Express. He led the company’s international expansion in Australia and multiple European markets and helped originate over 10 million new customer relationships across hundreds of endorsed and non-endorsed partnerships.
Chief Operating Officer
Richard Calmas brings 25+ years experience in financial analysis, manufacturing, consulting, and real estate management and development to his role as Founder and Chief Executive Officer at Neighborhood Pay Services. He is responsible for corporate strategy, business development, and systems operations. Prior to launching NPS, Richard was a private real estate developer in the Boston area and President of a privately-held multifamily property company serving outlying areas. From 1990 – 1997, he served as Director of International Marketing for the COMDEX computer trade shows, specializing in development of exhibitor programming and strategic sales alliances. He helped launch the COMDEX-Israel Connection, and supported sales and programming for COMDEX Europe and Asia. For COMDEX parent company, The Interface Group, Richard evaluated acquisition opportunities in the gaming industry throughout the U.S., complementing his work at Arthur Anderson Consulting in the mid-1980’s, where he evalu
Executive Vice President Sales & Marketing
Ellen brings 25+ years marketing communications experience with Fortune 500 and entrepreneurial companies to her role in strategic planning and marketing and sales support for Neighborhood Pay Services. She is also responsible for brand positioning, outbound marketing and digital networking as well as coordination of partner programs. Ellen has held senior management positions for marketing communications firms serving such clients as GlaxoWellcome, Bausch & Lomb, Avon Products, Heinz USA, AT&T, The House of Seagram, among others. She actively supports numerous health, civic and arts organizations throughout the Boston area and currently holds board positions for Silent Spring Institute, a leading research and advocacy group dedicated to identifying links between women’s health and the environment. For the Beth Israel Deaconess Medical Center, Ellen chairs the Women’s Cancers Advisory Committee, serves as a member of the Trustee Advisory Committee and the Foundation Board, and helped l
Vice President Business Development
Bill Stout has 25+ years experience in financial services, real estate finance, capital markets and business development. Prior to joining Neighborhood Pay Services, he spent the majority of his career at Sun Life Financial where he was Vice President in charge of the US mortgage division where he oversaw the servicing of a $5 billion commercial mortgage portfolio and annual production of $1.2 billion of commercial mortgages. He also initiated and led $1.7 billion of profitable structured mortgage sales. More recently Bill was a principal responsible for new business development at Coventree Capital, a Canadian investment bank specializing in securitization that was the largest non-bank issuer of asset backed commercial paper in Canada. He was also a Senior Managing Director at Market Shield Capital where he co-developed a multifamily finance program intended to become a public REIT implementing a patented finance method.