As we know, public housing funding for April is at a 73% proration level. HUD plans to issue a second funding to bring the April proration level up to 79%.
The business of owning and managing affordable housing in decent, safe, and sanitary condition and in good repair remains our mission. PHAs need to plan more strategically than ever before. So, as all businesses must ask in tough times: How can we maximize dollars and cut costs?
Tip #2: Set performance standards for each property.
The target we all want to hit is a 98 percent overall occupancy rate in order to get those 16 points under PHAS. But we all know that one property will do well to reach a 95 percent occupancy rate, while another property needs to consistently hit 99 percent or above.
The executive team should set expectations for each property in regards to occupancy rate and rent collection rate. If a property is underperforming, the property manager and asset manager should develop an improvement plan. Some improvement strategies will take longer to implement than others; the plan should include both the bang-for-the-buck improvements that can be implemented quickly, and the long-term strategic goals. The plan should be monitored by the executive team.
Next: Working with sequestration in the public housing program: Tip #3
NMA senior associate Cara Gillette trains, consults, and provides technical assistance nationwide in fair housing, public housing management, hearings, economic self-sufficiency, and governing boards. Prior to joining NMA, Ms. Gillette served at the San Diego Housing Commission, administering its public housing and Section 8 waiting lists, serving as hearing officer, managing public housing, and overseeing resident economic development programs. She has previously written for the NMA blog about blended occupancy projects.
If you find that you need staffing help during sequestration, NMA can assist your agency with recertifications (done remotely), quality control, outsourced hearing officer services (done remotely), HQS inspections, and more. Email sales@nanmckay.com for more information.
