Affordable Compliance: Speed vs. Accuracy in Certifications

Affordable compliance is a tricky dance when you have vacant units that are not bringing in rent. On one hand, getting people in quickly stops the bleeding and helps address a desperate backlog of housing requests. On the other, recklessly qualifying residents can put owners at risk of penalties. Walking the line between speed and carefulness when certifying applicants is stressful enough under favorable economic conditions. Toss in a sudden turn in the economy, dwindling incomes and job losses, and affordable housing operators have some very difficult decisions to make when filling apartments. “We’re in an affordable housing crisis,” said Celeste Slater, Vice President of Compliance Services for RealPage, during a recent webcast titled ‘Compliance Monitoring in the New Age.’  “It’s important to get those units filled as quickly as possible. A unit that sits vacant represents about $30 to $60 per day that an owner will never see in rent.” But Slater, a veteran of the affordable housing industry, cautions that fast isn’t always better if the proper certification steps aren’t taken. It’s more important to make sure residents are qualified, because oversights can cost the owner lost credits, subsidies or both. “It's a balance between getting people in the door as quickly as possible and making sure they're qualified,” Slater explained. Speeding affordable compliance without compromising quality The affordable housing qualifying process has come a long way since Slater began compliance monitoring 20 years ago. Qualifying residents meant driving to sites, pulling files and reviewing every certification. She could count on spending a day or more just compiling the information. As the industry evolved, email reduced review times, but following the communication chain was tedious and time-consuming. And the process can still drag out, occupying from three to five business days, accordi...