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Navigating the maze of regulatory differences in blended occupancy projects: Part I

Posted by NMA on Oct 24, 2012 1:58:46 PM

blended occupancy projectsWith aging housing stock and dwindling resources, it's not uncommon to manage projects with two, three, or more separate sources of funding and/or subsidy, each with different oversight agencies and compliance requirements.

These blended occupancy projects, also referred to as mixed-finance projects, have multiple funding and/or subsidy sources, creating a maze of complicated and often conflicting regulations. In addition to being proficient in the HCV and public housing programs, PHA managers and staff must now be knowledgeable in a variety of other programs such as project-based vouchers (PBV), Low-Income Housing Tax Credit (LIHTC) and HOME.

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Topics: Blended Occupancy, Combined Funding, HQS, Inspections, LIHTC, Mixed Financing, PBRA, PBV, UPCS

Achieving maximum occupancy: Tip #5

Posted by NMA on Oct 18, 2012 11:23:17 AM

Tip #5: Plan for the future.

In Tip #2, I mentioned that the property manager should track the occupancy rate on a monthly basis. In doing so, your PHA will know whether the rate is improving, getting worse, or staying the same. But tracking is an ongoing process, and as your PHA approaches the end of its fiscal year, it will need to set new goals and plan for the following year, taking into consideration the identified problems and strengths.

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Topics: Asset Management, Blended Occupancy, LIHTC, Mixed Financing, Occupancy, PHAS, Knowledge Base

Achieving maximum occupancy: Tip #4

Posted by NMA on Oct 15, 2012 12:07:59 PM

Tip #4: Take marketing into account.

Marketing involves "closing the deal," and PHAs often fall short in this area.

Conditions that contribute to successful marketing include meeting the specific needs of your customers, effective outreach, good curb appeal (including what the family has heard about maintenance performance), and positive applicant perceptions regarding security.

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Topics: Blended Occupancy, LIHTC, Maintenance, Mixed Financing, Occupancy, PHAS, Seniors and Elderly, Knowledge Base

Achieving maximum occupancy: Tip #3

Posted by NMA on Oct 8, 2012 11:46:11 AM

Tip #3: Check the occupancy rate against the fiscal year goals and identify problem areas.

Once you know your occupancy rate, the next step is to match it against the occupancy goals for the year. You should ask yourself whether the development is on track to meet the goals that were set at the beginning of the year, and if not, what the reasons might be.

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Topics: Blended Occupancy, Inspections, LIHTC, Maintenance, Mixed Financing, Occupancy, PHAS, Seniors and Elderly, Knowledge Base

Achieving maximum occupancy: Tip #2

Posted by NMA on Oct 1, 2012 11:43:18 AM

Tip #2: Know your current occupancy rate, and track it on a monthly basis.

Another important step in achieving maximum occupancy involves not only knowing your current occupancy rate, but tracking it on a monthly basis. The property manager will be interested in the occupancy rate for the development, whereas the asset manager will be interested in the occupancy rates for all public housing developments in the PHA's portfolio.

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Topics: Blended Occupancy, LIHTC, Mixed Financing, Occupancy, Knowledge Base

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