Strengthening the Senior and Affordable Housing Industries

The phrase, “It takes a village to raise a child,” is relevant to navigating the affordable and senior housing industries. That’s not to suggest that either rental housing sector is green behind the years – affordable began crawling in the 1930s when given birth by the federal department now known as HUD. But each has become so complex that it takes the communities within to work through the many challenges.   So what are the challenges and opportunities for operators in the affordable housing industry?   That, says RealPage Senior Vice President Gustavo Sapiurka, is the million-dollar question. Actually, $7 million question – a buck for each low-income apartment that the industry lacks to meet demand. The need is so great that the current system of building and renovating housing can’t possibly keep up, experts say.    “It’s imperative that we create public/private partnerships,” Sapiurka said in an interview at RealWorld 2019.   Finding and Retaining Talent a Top Priority The senior market has challenges, too.    “There is a major concern about the ability of people to pay for good care,” he added. “And also our customers have major challenges on the operational side as we’re seeing a major need for new talent.”   That need also exists on the affordable side as well. Finding and retaining talent is a top priority. Sapiurka has been visiting colleges and universities that offer housing courses to appeal to upperclassmen to consider a career in student or affordable housing.   Other challenges for the senior and affordable markets include managing all the paperwork involved and just trying to understand what federal agencies need.   It’s a lot to manage and overcome. And that village is stepping up.   Understanding Needs and Providing Solutions At RealWorld, a few representatives from the...