Affordable housing owners have very broad asset management responsibilities, ranging from tracking property performance to providing direction to property management and resident services to long-term capital planning. Asset managers need to be able to address real estate operating issues, but they also need to make the owner is meeting its obligations to partners, lenders, regulators, communities, and residents, all while advancing the organization’s goals and priorities for the portfolio. Fully outsourcing asset management is not a practical solution for owners. But they can outsource some of those very broad responsibilities.
