Strategies for Making the Conceptual Sale
1. Position SSR as investment rather than poverty housing.
2. Remind Folks that SSR will pay local real estate taxes.
3. Make the case that quality, well-managed rental housing contributes to stabilization.
4. Illustrate how SSR can be done right via a solid Business Plan for Production and Management.
5. Address push-back from neighborhoods not wanting any more low-income housing.
To Your Board
1. Plan with your Board how to add SSR as a new line of business whose risks can be managed.
2. Illustrate how SSR can be done right via a solid Business Plan for Production and Management.
To The Neighborhood
1. Demonstrate the stabilization impact of your project.
2. Dispel misperception that this is public housing or Section 8 housing.
3. Show neighbors your tenant profile so they can see who will be moving in.
4. Manage units to demonstrate that they are good neighbors.
5. Select tenants carefully.
6. Show how you are adding to the tax base.
To Local Government Subsidy Providers
1. Some local governments avoid SSR because they:
- Don’t know how to underwrite rental deals
- Worry about long-term compliance requirements
2. Others are realizing that some rental does not fit the LIHTC model.
3. Establish systems for ongoing compliance management.
4. Show government how you will ease their regulatory burden.
To Lenders and Other Funders
1. Provide details on costs to make the case for reducing debt and providing reserves to meet higher annual operating costs.
2. Show them your business plan.
3. Be specific about the type of financing you need (long term debt, revolving line of credit, etc.).