Kcg Property Management
Kcg Property Management – The use of technology in the asset management industry is not new. Technological solutions have been available since at least the 1990s – before email and the internet were widely available. But even 5 years ago, there was hardly a quantity or demand for these technology solutions, especially for the industry as a whole, to tie them to a particular type of technology. Now, PropTech
But it’s not just software companies that are driving the growth of the PropTech portfolio. The explosion of technology solutions would not have been possible without the growing appetite of property management companies for cost-effective, efficient technology solutions. and improve the resident experience. Technology is only strong when it generates a return on investment. With this context as the backdrop, the NAA Apartmentalize session, “
Kcg Property Management
“Focus on educating asset management companies on how to evaluate new technology solutions and how to strategically manage their ‘tech stack’.
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Team members, including Jennifer Staciokas, CEO, Wealth Management at Western Wealth Communities, Lucas Haldeman, CEO at SmartRent, Ellen Thompson, Founder and CEO at Respage, Guntram Weissenberger, Owner/Chairman at Westover Company, highlighted several points to keep in mind when evaluating new technology:
The need to constantly evaluate your technology stock: Perhaps a decade or more ago, you could “put it and forget it” when it came to the technology you use to run your assets and its property management company. This is no longer the case. Technology is evolving at a rapid pace, and while adding and changing software isn’t seamless and easy for your organization or your employees, you need to continually review your existing solutions. yourself and monitor the market to find new solutions to the challenges you are facing or you will fall behind your competition. It is recommended by the panelists to assemble a kind of technology steering committee composed of different groups within your organization that are responsible for defining and evaluating your existing technology platform and new solutions. that you want to consider.
Meticulously identify the problem(s) you expect the new technology to solve: Before diving into the evaluation process, it is important to define the problem that the technology is expected to solve and the goals goal or the result you expect it to bring. Whether you’re adding a new solution or changing an existing solution, you want to make sure you understand exactly how the solution you choose will solve the specific problem you’re facing. This will guide your evaluation and selection process and measure the initial results as you begin implementing your new solution.
Conduct a thorough assessment of the solutions and suppliers you are considering: Walking around the Apartmentalize showroom, it is easy to get excited about the vendors you meet and the new technology you see. Sales teams are always pushing you forward, but it’s important that you take the time to evaluate solutions and vendors thoroughly to avoid any unpleasant surprises. You will want your team to be involved in the assessment process and to pay careful attention to the following:
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While the NAA’s Apartmentalize conference isn’t known for delivering Specialty Affordable Housing content, the organization is trying to up its game in this area. Thursday session, “Affordable isn’t all bad. YIMBY From the perspective of a young company! ” presented by Karla Burck, EVP Development at KCG Companies and Kimberly Hurd, EVP, Property Management, KCG Civil, LLC, provided some great insight into how Affordable Housing developers have can work with “NIMBY” (Not in My Back Yard) communities and get support for the desperate need for new affordable housing.
During the session, Karla and Kimberly conducted two case studies – one in Anderson, SC and the second in Ellenwood, GA, sharing insights into the opposition they faced and how they came to be. change attitudes and win the support of government, industry, and the community. for projects. They talked about how it was important to understand the components and their concerns and priorities and then worked to address those concerns and structure the project in a way that addressed some of the community’s priorities. , so that everyone benefits. Below, we cover three types of components that KCG worked with and how they were able to move them from NIMBY to YIMBY.
In the case of KCG’s Anderson, SC project, the local government knew they needed affordable housing in the city to attract more businesses but faced resistance from the community. The government also knows they have a problem with the water system (a concern shared by the community) and desperately needs funding to improve. Plumbing issues provide an opportunity to build linkages and make the project win-win.
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For the Ellenwood, GA project, the local government opposes “Affordable Housing,” but at least one councilor understands that there is a need for apartments as the area becomes unsustainable. paid and many workers are being forced further and further away from town. The priority for parliamentarians and local authorities in general is to bring health offices to the community, which KCG knows will be difficult to do without nearby housing available for those who will be working in the offices. there. In order to get the councilor, KCG was able to demonstrate that many workers in the area (bus drivers, custodians, government employees, etc.) eligible to live within a reasonable planned cost. housing community. The KCG also recommends that the councilor call the medical providers he hopes will engage the community to understand what has stopped them from coming. It turns out that housing for their employees is a top concern. Bringing a board member on board is an important turning point.
As with most LIHTC projects, the community is concerned that when affordable housing comes to the community, it will bring killers, thieves, rapists, child molesters, and poor people with problems burdening the community. Property values will drop, schools will fall, and communities will be less secure. Citing studies that refute these concerns is often ineffective because participants do not believe those studies are relevant to their particular community. KCG focuses on working directly with community leaders and influencers by being very open and transparent with them. They take them through a tenant selection plan so they understand the profile of someone who is qualified (and unqualified) to live in the community – income level, criminal history, etc. They also compare qualified wages with those of already-existing workers. in the community so that they see that it is a home for them and not for the poor elsewhere.
In Anderson, SC in particular, the Season 8 housing experience shaped their perception of affordable housing, and KCG was able to demonstrate that Section 8 offers represent only 10% of the population. tenants in the communities they manage. They also share the requirements they make for the affordable properties they manage to ensure the grounds and buildings are well maintained and in line with what the community expects. They talk about how they enforce policies and the consequences if tenants break them.
In addition to addressing concerns, KCG goes a step further to understand the needs of the community. In Anderson, SC, residents were concerned about the water system, and KCG allocated $1,000 per unit to improve the water system — funding the water company desperately needed. In Ellenwood, GA, the community wanted a restaurant. KCG invited restaurateurs and operators to talk about what it takes to make a community a viable place to open a restaurant – number of households and housing for workers are key criteria.
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Perhaps those most at risk are those whose properties border the affordable housing community. KCG met with neighbors to understand their specific concerns and what they could do to address them. In the case of the Ellenwood, GA property, the neighbors didn’t realize that the vacant land had been converted to commercial use, so it was helpful for them to understand that regardless they would have other people. Neighborhood is not a family residence. Neighbors are most concerned with preserving trees and minimizing traffic. KCG was able to preserve an area on the property where trees would remain, and they agreed to put a gate at the second entrance that would only be accessible to emergency personnel.
The KCG believes that the approach they have taken in engaging local governments and communities in dialogue, tailoring the project to deliver something those members want, while providing visibility into the future. Publicity and transparency about how tenants will be selected and how properties will be managed are critical to gaining approval for projects. They look forward to continuing to build affordable housing where it is needed using this blueprint and hope that others can do the same.
ResMan Provides Affordable Housing Real Estate Management and Compliance for HUD, LIHTC and Countryside
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