Compliance services are provided as part of our standard property management services package. We also offer our expertise in this area on a contract basis to owners of properties that we don’t manage.
Given the importance of government funding and the diverse nature of the affordable housing properties we manage, we have developed a strong working relationship with a number of government funding agencies. These funding agencies and programs include HUD, the MHFA, Hennepin and Dakota Counties, the Minneapolis Housing Authority and Community Planning and Economic Development Department, The St. Paul Housing Authority and the Federal Home Loan Bank. The high quality of our relationship with these government funding agencies is demonstrated by the number of affordable housing properties in our current portfolio resulting from agency referrals.
In order to provide the best possible management for affordable housing, we have developed an expertise in understanding and complying with various complex funding program requirements. We have become highly skilled at verifying the income and assets of applicants and residents, and have designed systems that enable us to provide accurate and timely information to various funding organizations.
Our Occupancy Manager maintains a strong working relationship with all of our funding agencies and stays current with the changes in funding program requirements. The occupancy manager trains all new staff members, keeps current staff updated on new guidelines and reviews all applications for compliance with housing and funding regulations. For Tax Credit, HOME, and Section 8 properties, all recertifications are reviewed for accuracy. Our Occupancy Manager tracks recertification dates to assure timeliness of annual recertifications.
In addition to making sure the properties we manage are in compliance, we also provide tax credit verifications and monitoring for owners of other properties that we don’t manage. We also act as consultants to assist owners and managers to bring their affordable housing properties back into compliance with funding program requirements.