7 Ways You Can Mitigate Risk at Your Affordable Properties [eBook]

Affordable properties come with a unique set of challenges that range anywhere from tenant safety to federal compliance. The smallest mistake can cost you big. Reduce mistakes and mitigate risks with these seven solutions from RealPage Affordable Property Management Software: 1. Use a property management platform for the affordable market Property management software should be based on Fair Housing regulation criteria, easy to use, helpful for your staff and be able to handle income limits that come with each property. It should also include a built-in HUD waiting list with a congruent applicant screen and a tax credit compliance waiting list. Pair these features with the proven industry standard of RealPage software and you will have help to protect you from Fair Housing violations. 2. Utilize built-in document management Major changes are coming for assisted housing programs, especially with how they are required to report their data at the site level. Is your property ready? Uploading and tracking documents in a secure, tamper-free location allows your property to streamline the verification process while keeping tenants personal information secure. The most important documents are available anytime, standardized, compliant with your business practices and easily backed up to avoid disaster. This ensures that required reports are ready in a moment’s notice, saving you time and money while mitigating the risk of noncompliance. 3. Complete screening customization Finding qualified, quality tenants in the affordable housing market can be challenging. This is why it’s important to have the ability to customize the screening process. Among other features, the software includes a criminal classification system and an annual re-screening feature that looks for new criminal offenses on tenant records. 4. Leverage a compliance monitoring service In affordable housing, meeting resident expectations and managing day-to-day business while ensuring...