In the last 12 years, we’ve seen two major housing crises – the mortgage crisis in 2008 and the COVID-19 pandemic in 2020. Even though the circumstances were wildly different for each crisis, both of these disasters highlight the importance of affordable housing plans.
Knowing what we know now, we can collectively move forward to prevent future collapses by implementing affordable housing training at all levels of property management and adhering to constantly changing guidelines.
How Affordable Housing Training Benefits Your Business
Affordable housing is part of the public sector. It encompasses low-income housing as well as housing for the elderly and disabled. That means there are numerous guidelines and regulations for working with tenants.
Training is the most effective way to ensure your property managers are equipped to handle the compliance standards that HUD created.
Here’s what your business needs to know about training and the benefits it provides to your business:
- Training improves employee satisfaction and performance.
- Training encourages employees to learn from their mistakes.
- Training ensures employees are up to date on new regulations.
With a solid affordable housing training program, you can set your property managers up for success while ensuring your multifamily property meets all compliance standards.
3 Affordable Housing Training Programs to Invest In
The right affordable housing training program will depend on what type of multifamily property you have – that is, whether you’re operating a LIHTC property or a Section 8 property, for example.
1. Housing Credit Certified Professional
The HCCP certification is available to individuals who have at least two years of experience in the low-income housing tax credit (LIHTC) industry plus 10 additional hours of LIHTC training. This specialized certification is for property developers, property managers, and asset managers.
2. HUD Service Coordinator Training
Property managers who work in multifamily properties for the elderly and people with disabilities can take the HUD Service Coordinator Training program. This program is designed exclusively to teach Service Coordinators how to provide security, social connections, and community support for the tenants in its complexes.
3. Certified Occupancy Specialist – Public Housing
The National Center for Housing Management offers an extensive selection of training courses and certifications for people in the affordable housing industry. Some of the most practical NCHM course certifications include the Certified Occupancy Specialist – Public Housing and the Certified Voucher Specialist. They also offer tax credit training in addition to affordable housing training.
How to Combine Affordable Housing Training with Compliance Standards
Affordable housing training is only part of the solution for professionals who want to be industry leaders. You need on-the-job training, professional certifications, and a comprehensive plan for managing affordable housing compliance standards.
With the right combination of training and compliance standards, your multifamily property can be a leader in the affordable housing industry at a time when the rental market needs a leader.
Ready to merge your professional certifications with a comprehensive compliance strategy? The team at Sanchez Compliance & Consulting is your partner in rising to the top.