Multifamily Housing

As the real estate industry becomes faster-paced, demand for services grows, and the market continues to become more competitive, the multifamily market presents unique challenges to owners and operators attempting to maximize the profitability of their multifamily enterprises. As a multifamily management company, you are concerned with many key factors that influence the performance of multifamily portfolio, such as:

Real-time access to centralized data
Fully integrated accounting
Comprehensive reporting with drill-down to underlying data
Dynamic marketing capability, including an integrated Web presence
Online resident services and rent payments
Tracking of resident status and services
Optimized rents
Automatic calculation and posting of resident charges
Automatic notification of scheduled tasks
Role-based dashboards to increase efficiency and productivity
New WiLife Surveillance Products

Affordable Housing

Affordable housing management companies face a variety of challenges to meet and maintain compliance in an industry where regulations frequently change. Managing HUD project-based 50059 properties, Low Income Tax Credit properties, HOME Fund properties, RHS Section 515 properties—and properties that combine all of these subsidies—requires strict adherence to government regulations and meticulous resident screening.

An affordable housing management company, you are confronted with many key challenges, such as:

Qualifying tenants, certifying incomes, and determining tax credit eligibility
Integrating accounting and compliance functions, and keeping resident ledgers current
Reconciling subsidy payments for multiple residents, and applying rental assistance funds
Sending and tracking verification letters, and monitoring waiting lists
Submitting required reports on a timely basis
Tracking rental assistance units and unit transfers
Tracking basic rents and overages, administering utility reimbursement payments, and processing special claims
Maintaining properties and responding to work orders
Creating multiple required reports including Project Status Reports, Notice of Payment Due Reports, and HUD reports

Military Housing

In recent years, privatized military housing has become the norm for all branches of the armed services, creating new opportunities for those in the private real estate industry. Along with these opportunities come challenges, however, as property managers used to administering “civilian” housing are presented with the unique requirements of this specialized segment of the housing market.

There are many primary concerns for a management company of military housing, such as:

Efficient wait list processing
Resident-landlord relations tracking
Sharing resident/unit information among different posts
Tracking and updating BAH rates
Interfacing with multiple content systems, such as MAC, DEERS, and DFAS
Timely, accurate reporting on essential military housing requirements

Public Housing

Public housing management companies face a variety of challenges to qualify applicants, maintain compliance, and efficiently manage conventional low-rent public housing, project-based leased housing, housing choice vouchers, and many special state and locally subsidized programs.

Key challenges confronting public housing management companies include:

Qualifying participants for the Family Self Sufficiency (FSS) and Welfare to Work programs
Managing case loads and recording information for Mod Rehab, Homeownership, FSS, and Earned Income Disallowances
Handling residents under portability, and issuing vouchers
Calculating Housing Assistance Payments, Tenant Rent, and Total Tenant Payments
Posting payments and charges
Producing required reports to maintain compliance with government regulations
Sending verification letters
Submitting the 50058 and SEMAP reports to HUD
Meeting PHAS financial requirements
Creating utility usage schedules, paying utility reimbursements, and billing for excess consumption
Managing waiting lists

Condo, Co-op, and Homeowners Associations

Condominium, Co-op, and Homeowner Association (HOA) management companies face a variety of challenges to track and transfer ownership of units, calculate charges, collect payments and fees, enforce bylaws, and maintain properties, among other important tasks.

Key challenges confronting Condo, Co-op, and HOA management companies include:

Tracking in-progress purchases and changes of ownership
Managing scheduled and one-time charges, and transferring charges when ownership changes
Calculating scheduled charges based on percentage of ownership (condo) or number of shares (co-op)
Collecting payments from residents and fees from owners
Fulfilling work orders and processing vendor invoices
Enforcing property rules and bylaws
Maintaining a list of board members, and creating sign-off sheets for board meetings
Generating one-time charges for retroactive fee changes
Associating owners with multiple units, and units with multiple owners
Managing purchasing and payables, and controlling inventory
Creating reports, including availability, receivables, payables, and financial statements