The Future of Affordable Housing

By 365 Connect, Special for USDR

365 Connect, a leading provider of award-winning marketing, leasing, and resident technology platforms for the multifamily housing industry, announced today the release of a comprehensive industry study on the utilization of resident services in affordable housing. The study, Affordable Multifamily Rental Housing Resident Services – Twenty-First-Century Solutions, brings into focus the future of delivering services through web-based platforms.

The study encompasses extensive research related to the state of the affordable housing industry and the pressing need to evolve the delivery of compliance-required resident services. It explores the complexities of on-site programs, which have a history of poor attendance and high maintenance costs, before proposing how technology platforms can be leveraged to reduce this costly burden and generate more affordable housing units to better serve residents.

Kerry W. Kirby, CEO of 365 Connect stated, “The supply of affordable rental units has not kept pace with the significant demand in the market. Due to fluctuations in the tax credit market, costs of meeting compliance requirements, restrictions on rent, and continuously increasing operating expenses, developers are building new rental units designed for the upper end of the rental market where rents are higher.”

He suggested, “Utilizing technology to deliver resident services can redirect financial resources into efforts such as creating a safe, stabilized community, funding mandated repairs, marketing to future residents in search of affordable housing, and delivering more targeted services to residents that they will genuinely use. More importantly, it can open the gates to fund more affordable housing units, which is a vital need across the nation.”

The study is one of the most complete compilations of data, independent research, and industry survey participation to ever be produced on this subject. Countless organizations, affordable housing operators, and industry advocates contributed tremendous guidance, insights, and resources throughout the development of this expansive, in-depth report. The resulting research builds a complete picture of how people are engaging with current programs and suggests how technology can redefine an outdated program by a modern, twenty-first-century solution.

“The core of resident service programs is based on getting information into the hands of residents; therefore the key to providing a successful program is delivery. Through the progression of technology and the declining cost of Internet access, a large percentage of the population is now connected online. We must deliver a consistent experience throughout every step of the housing process while providing cohesive solutions that focus on the entire resident lifecycle,” Kirby concluded. “As we continue to look at innovative methods to simplify onboarding practices and serve residents, it is crucial that affordable housing operators realign their strategies to accommodate the next generation of renters. We are excited to share our knowledge of this subject with our industry peers.”

The complete industry study is available at:  www.365connect.com

ABOUT 365 CONNECT:  365 Connect was founded in 2003 with an unwavering commitment to transforming how apartment communities market, lease, and retain residents. As a leading provider of award-winning technology platforms for the multifamily housing industry, 365 Connect delivers a fully-integrated suite of comprehensive solutions that automate marketing, simplify transactions, and serve residents after the lease is signed. The 365 Connect Resident Lifecycle Platform allows its clients infinite expansion, robust integrations, and the ability to revolutionize user experiences. Explore:  www.365connect.com

SOURCE 365 Connect

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.
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