SANTA ANA, Calif., Jan. 21, 2003 -- Utility billing and resident care services provider National Water & Power today announced it has begun implementing water usage billing for nearly 4,500 of Fath Properties units in Texas.
Fath Properties has 18 properties in the Dallas Metroplex. With nearly 7,000 residents who depend on the efficiency of its operations, identifying and eliminating inefficiencies that may exist across Fath Properties' more than 9,000 units can save the company hundreds of thousands of dollars.
"Fath Properties has always strived to provide our residents with clean, quiet and well-maintained properties and to do that we need to manage our expenses wisely," said Ted Broadfoot of Fath Properties. "With National Water & Power managing billing of water consumption on our properties, our staff is able to concentrate on their main focus of providing residents with the best quality of life we can offer."
To help Fath Properties meet the Texas Commission on Environmental Quality's end of year deadline for implementing billing systems for water usage, National Water & Power began incorporating RUBS (Ratio Utility Billing Systems) to measure and allocate water consumption to individual units. National Water & Power will handle billing and vacancy monitoring for the properties.
"Fath Properties took advantage of the brief window provided by the TCEQ to implement water allocation billing without facing additional costs," said Bob Wolpert, National Water & Power's president. "Our vast regulatory expertise and experience in Texas and across the country has provided us the resources to assist a number of Texas property owners in meeting the TCEQ's deadline."
Fath Properties made the decision to outsource the water measurement and billing process to National Water & Power in a drive to increase efficiencies on its properties, as well as encourage conservation of water. According to the National Apartment Association and the National Multi Housing Council, residents who pay for their water consume 6 to 39 percent less water than those whose water costs are included in their rent. If the 25 million apartment units in the U.S. implemented submetering of water consumption, 225 million to 1.4 billion gallons of water could be saved each day, saving owners and residents $500 million to $3 billion annually.
About National Water & Power
National Water & Power, a division of NWP Services Corp. headquartered in Santa Ana, Calif., provides a broad range of billing and customer care solutions to the multifamily real estate industry. National Water & Power's billing and sub-metering operations service more than 650,00 units in 39 states for some of the country's largest real estate investment trusts (REITs), fee managers, real estate partnerships, and individual property owners. Additional information is available at www.nwpco.com.
About Fath Properties
Fath Properties is a professional real estate company that specializes in owning, rehabilitating and managing quality apartment communities. The current portfolio consists of 36 apartment communities containing more than 9,000 apartment homes located in Cincinnati, Ohio and Dallas, Texas. For over 30 years, Fath Properties has been owned and operated by Harry Fath.
About NWP Services Corporation
Headquartered in Santa Ana, Calif., NWP Services Corporation is the privately held parent company of National Water & Power and Open-c Solutions. National Water & Power is the fastest-growing national provider of billing and customer care services for the multi-family and commercial real estate markets. Open-c Solutions delivers systems and services to utilities and energy companies to enhance operating efficiencies and ensure long-term profitable customer relationships utilizing their state of the art Open-cIS platform. As a combined company, NWP Services Corporation provides the regulatory expertise, technology infrastructure and high quality services that property owners, utility companies, and energy providers need to preserve resources and thrive in a complex deregulated environment. Additional information is available at www.nwpsc.com.
