Five Key Areas to Cut Costs in Affordable Housing [eBook]

Affordable housing, while providing an invaluable service across the country, can prove challenging when tasked with the uniqueness of offering quality residences with limited resources. Keeping up with payroll, maintenance, inefficient utilities, overhead costs and  various other tasks can cause property owners to struggle to provide an ideal community. With the right software however, properties can minimize and manage expenses while also saving time and money on operations. Here are five key areas to cut costs in affordable housing. Automate your utility invoice processing When utility systems are automated, property owners can easily manage rate changes and manage them with greater accuracy. Automated processing ensures a keen eye is kept on utility usage, allowing for regulation of energy spikes and close monitoring of potential utility theft. Invoices can be expedited and fees can be collected more quickly, thus avoiding unnecessary shut-offs. Adopt an integrated mobile maintenance app Get more efficiency from your maintenance staff with an integrated Mobile Facilities App. Maintenance apps allow staff to document repairs, update progress and send communications from the field. The property manager also stays informed of every step of the job with real-time visibility. The app can also simulate HUD REAC (Housing and Urban Development Real Estate Assessment Center) inspections and MOR (Management Occupancy Review) findings, letting property owners, managers and maintenance staff know the details of what needs to be fixed. More so, it will tell you when things need to be fixed to avoid costly surprises down the road. Standardize your vendor selection With the right Spend Management Software, you can gain access to a list of approved vendors and products custom matched to your property. All vendors and products on the list provided would have online purchasing and invoicing capabilities to ensure property managers know where to buy and what to sp...