Scattered Site Rental Toolkit:

Business Planning for Development & Management

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VII.D. A Mission-Based Approach to Property and Asset Management

As mentioned above, whether or not you hire a third party property manager, you will have to allocate significant time and resources to property and asset management. These will be expanded or new lines of business for your organization. We recommend a mission-based approach to management in which you intimately connect your goals for your neighborhoods, families and organization to your management approach.

It is critical that your staff, contractors and board can clearly communicate:

1.    Why you are taking on portfolio management

2.    What your property and management objectives are

3.    How the objectives fit within your overall mission

4.    How your management approach is shaped by your mission.

Following is an example of a mission-based management company.

 

Mission-Based Property Management: Community Properties of Ohio

Community Properties of Ohio (CPO) Management Services is the nonprofit property management company created to manage units renovated via the Community Properties Initiative, a $100 million low-income housing preservation project that rehabilitated 1,300 affordable housing scattered site units in seven neighborhoods. (www.cpoms.org)

CPO’s focus is “community based management empowering residents.” Mission: “CPO is a tenant-endorsed, community-based property management company committed to stabilizing families by providing quality affordable housing, encouraging residents to be good neighbors and by linking residents to community services.

CPO aims to meet the needs of residents and communities. CPO implements a “highly responsive customer service management model to assist residents with economic, social and educational support. CPO helps families, strengthens communities and empowers residents to lead stable, successful lives.”

CPO believes its property management work transforms communities through:

 

Next: VII.E. Management Planning