EDITOR ' S QUESTION
It might surprise people to learn that technology is playing a significant role in alleviating the housing crisis and improving affordability . Surprise probably stems from a common assumption that technology is a luxury beyond the budgets of subsidised housing organisations . Until recently , many of these organisations would have shared this view . But more and more are recognising that technology can optimise financial performance and increase efficiencies , saving both money and staff time .
Addressing compliance regulations , for example , is a notoriously complex , time-consuming process . Today housing organisations can use technology to automate the completion and submission of forms that demonstrate compliance with federal programmes like LIHTC or HUD Multifamily . Process wizards can handle initial resident certification and subsequent recertifications , and other software tools can track and report on the different financing sources that subsidise a community .
Technology is also streamlining the application process , through tools that screen applicants , verify income and employment , and facilitate waitlist management . Such tools , many of which use AI , reduce reliance on manual , labourintensive , paper-based tasks .
Property management is benefiting from technology too . Online portals allow residents and managers to exchange information . Residents can also use the portals to place work orders or pay rent online , eliminating the need for employee bank runs .
In some communities , phone services equipped with speech recognition technology provide similar services . Whether online or offline , these tools enable staff to devote their time and energy to more complicated or pressing issues and address them in person as needed . And mobile apps give them the flexibility to do their job remotely , encouraging employee retention in an industry with high turnover .
Another advantage of technology is the ease with which housing organisations can collect and analyse data on operations and finances . On the operations side , asset managers can identify areas where performance can be improved and risks can be better managed . Imagine a situation where asset managers could view data on utility usage . Perhaps a resident ’ s water usage is far above the norm . That could indicate a leak , and maintenance could take care of it immediately , well before the leak causes widespread damage .
To conclude , technology isn ’ t solving the housing crisis overnight , but it is helping housing organisations save money and time . The results include a better bottom line , happier employees , and happier residents . In a cash-strapped industry where every dollar matters , technology has morphed from a luxury to a necessity .
ALLEN FELIZ
VICE PRESIDENT OF US AFFORDABLE HOUSING , MRI SOFTWARE
www . intelligentbuild . tech 27