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CLIENT SUCCESS STORY
The NRP Group
The NRP Group is a full-service developer, builder and manager of multifamily housing, with a portfolio spanning market-rate and affordable communities across the United States.
Being able to outsource our compliance has been very beneficial just as a company – and that integration with Compliance Manager and RightSource has been a huge benefit. They’re able to communicate with their auditors and see real-time updates to the status o their files.
Ashley Field
IT Business Solutions Project Manager, The NRP Group
ID Verify has been pretty impactful for us. We’re seeing upwards of 30% of our applicants – we’re catching fraud on the front end, which is huge for us an an operator.
Ashley Field
IT Business Solutions Project Manager, The NRP Group
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The benefits
The NRP Group saves hours of staff time and shortens vacancy losses with multiple components of the Yardi Affordable Housing Suite. NRP’s affordable housing compliance workflows are more streamlined and instances of fraud on the front-end of certifications are far fewer, while applicants and residents gain the convenience of completing certifications online.
The company
The NRP Group is a vertically integrated real estate developer, builder and manager. Its portfolio includes more than 100 affordable housing properties. As an IT-forward organization, NRP continually evaluates software solutions to support its site teams and ensure efficient, compliant operations.
The challenge
Paper-heavy processes slowed compliance & burdened applicants
Before leveraging Yardi’s online tools, NRP’s affordable housing teams relied heavily on paper-based applications and manual processes. During lease-ups, construction delays meant applicants had to physically return to the office and restart the application from scratch, sometimes as many as four times for a single file. With certifications expiring every 120 days, the burden fell on both staff and applicants alike, while vacancy loss accumulated at over $30 per day per unit.
The solution
Yardi’s integrated affordable housing platform brings together Compliance Manager, RentCafe, ID Verify and RightSource into a single connected workflow. Applicants can complete and update their applications online from any device, while automated income verification eliminates the need to wait for manually submitted documents. ID Verify screens applicants on the front end, catching potential fraud before files are processed. RightSource integration provides real-time file status updates and direct communication with auditors.
The story
A single platform eliminates the need to leave Yardi
For Ashley Field, IT Project Manager at The NRP Group, the most meaningful measure of a software platform is whether her site teams can do their jobs without ever leaving it. To achieve that level of efficiency, NRP has adopted Yardi solutions across its affordable housing operations. “Yardi provides an end-to-end product that fits nearly all of our daily operational needs. It’s rare that our site team members have to ever leave Yardi to complete a task,” says Field.
The impact has been felt most acutely in compliance. Before moving to Compliance Manager, lease-up delays forced staff to call applicants back to the office repeatedly. Ashley recalls one lease-up where nearly 100 families had to redo paper applications four times due to construction delays. Now, staff can simply reopen an application and direct the applicant to update their portal without having to come into the office.
Subhead: Automated income verification shortens processing time & reduces vacancy loss
NRP estimates that vacancy losses can total more that $30 dollars per day, per unit. Mitigating those lost revenues peed matters in affordable housing. With vacancy loss calculated at just over $30 per day per unit, anything that accelerates application processing translates directly to financial performance. NRP uses ID Verify to automatically pull income verification rather than waiting on applicants to submit pay stubs manually. “It shortens that time from when we get an application to when we have it ready to go to RightSource,” Ashley explains. The integration between Compliance Manager and RightSource also gives site teams a real-time window into file status and auditor communication.
ID Verify flags fraud before it reaches the file
With ID Verify, NRP now is able to catch fraud attempts on the front end of the application process, before they progress through compliance. Ashley notes they’re seeing potential fraud flagged on roughly 30% of applicants, a figure that underscores the value of screening at the point of application rather than discovering issues later in the review process.
Aspire saves 40 hours of staff training development per rollout
Efficiency gains extend beyond the application process. Adopting the Yardi Aspire learning management solution helps NRP’s learning and development department reduce the burden of creating training materials from scratch. Developing such resources in the past could take more than 40 hours of staff time, or more for a large rollout like Compliance Manager. “That’s time given back to our trainers,” Ashley says, “to do the more meaningful things.”