Hilton Realty is a privately owned real estate development and management company based in Princeton, NJ. They manage approximately 2,700 multifamily units and 4.4 million square feet of commercial space.
“We are so pleased with how efficient PayLease made our utility management. PayLease showed performance and loyalty by doing everything they said they would for us. We feel confident they will replicate this for us on the commercial level too.”
Hilton Realty was processing utility bills for all of their multifamily units in house. When the utility bills arrived in the mail, it was a race to ensure each one was paid on time. Bill Chast, Controller of Hilton Realty recalled their previous billing process saying, “Managing our utility AP was extremely laborious. We had one full-time person on our team handling the task, and it took up about 65% of her time.”
Each month, the process began by opening all of the bills and inputting the charges into a spreadsheet that could be analyzed month-over-month. There were also several hours spent on the phone each month with their utility providers. “With over a thousand bills each month, we always had questions on a few invoices or found billing errors,” said Chast. Once their billing questions were answered, checks had to be printed, signed and mailed to each utility provider. “There were too many steps from start to finish and we wanted to make the process much more efficient. We overheard another property management company speaking highly of PayLease’s utility management services, which ended up being exactly what we needed,” said Chast.