1. You recently assumed the role of Director of Rental Management. How big is the portfolio and what is MassHousing's role in overseeing apartments it financed as well as HUD properties?
I began as Director of Rental Management in March 2023. The last few months have been an exciting time for me as I have had the opportunity to work directly with Division leadership to develop our goals and objectives for the upcoming fiscal year. We have set an ambitious agenda to engage staff creativity to develop process improvements and efficiencies across the Division.
The Rental Management Division is comprised of the Asset Management, Subsidy Administration and Quality Assurance departments. We provide oversight to the Agency's portfolio of more than 1,000 developments with approximately 100,000 units of affordable housing across the Commonwealth. Each team plays an integral role in providing effective portfolio oversight. During the past fiscal year, our Asset Management team conducted 346 Asset Management Reviews (AMRs), 250 Management and Occupancy Reviews (MORs) on behalf of the U.S. Department of Housing and Urban Development (HUD) and addressed more than 300 resident concerns. Subsidy Administration processed $1.1 billion dollars in subsidy payments providing support for the shared mission of MassHousing and HUD to provide safe, affordable housing to the thousands of residents in our Section 8 portfolio. Finally, the Quality Assurance team collaborated with staff and successfully monitored Division performance in all aspects of the Performance Based Contract Administration (PBCA) portfolio.
2. What issues and initiatives are on the front burner for your team right now?
In addition to identifying areas to develop greater efficiencies and process improvements, our team is preparing for the implementation of two significant HUD initiatives that directly impact our multifamily portfolio. The first is the Housing Opportunity Through Modernization Act of 2016 (HOTMA). We are partnering with our friends at the New Hampshire Housing Finance Authority to provide a virtual joint staff training on this important HUD initiative. This will allow our staff to collaborate with their peers in New Hampshire, discussing challenges and trading ideas for effective implementation.
The second HUD Initiative that has our focus is implementing the National Standards for the Physical Inspection of Real Estate (NSPIRE). The new NSPIRE model prioritizes health and safety issues, and the inspection protocol better reflects the physical condition of the property with a more direct focus on housing units. HUD plans to implement NSPIRE for the Multifamily portfolio on October 1, 2023. We are engaging a consultant to provide in-person training so that all Rental Management staff will have a solid foundation and understanding of the NSPIRE protocol.
3. What goals do you have for the Rental Management team in the coming months and years?
In my role as Director of Rental Management, I work with each Department to develop process improvements and create efficiencies that directly impact our business partners. Over the last few months, our team has developed a series of Division goals that center on the concept of the three Departments working collaboratively to provide effective portfolio oversight and exceptional customer service. We have developed strategies and process improvements to further our goal of positive engagement, which include full implementation of our new Asset Management Review (AMR), developing alternative reporting schedules for our financial statement submission requirements and implementing a process for soliciting feedback from the industry.
Working in various roles during my career at MassHousing, I have been fortunate to develop many positive working relationships with owners and management agents across the portfolio. I hope to expand my reach and have set as a goal for myself to meet with members of the industry and hear from them how the Rental Management Division can continue to be an effective partner in providing quality affordable housing across the Commonwealth.