Technology can help owners manage affordable housing portfolios, which can contribute to the proliferation of more dwellings. Affordable housing is one of the most challenging property classes to manage, and if IT tools can make management more efficient, then the affordable housing sector can become more attractive for investment.
Affordable housing programs carry strict regulations, requiring much more compliance with local and federal guidelines than conventional residential projects. Technology helps expedite compliance including automating parts of the leasing process, such as generating income certifications, doing income calculations, and tracking set asides. One housing experts advises affordable housing owners to start with adopting electronic systems of record that track leasing activity and information about tenants and individual units.
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