ProLink Solutions has developed a Case Study on Virginia Housing Asset Management. ProLink Solutions is proud to say that we are a Platinum sponsor of the HFA Institute of 2021, supporting the Affordable Housing industry as well as the National Council of State Housing Agencies (NCSHA).
Who is Virginia Housing?
Created in 1972, Virginia aimed to provide Virginians with quality, affordable housing. They provided mortgages for first-time homebuyers and financed apartment communities and neighborhood revitalization efforts. Virginia Housing receives no state taxpayer dollars to fund our programs. Instead, they contributed a significant portion of the net revenues each year to help meet Virginia’s most difficult housing needs.
Kara Nickerson, the Asset Manager at Virginia Housing, states, “Asset management can be defined as the process of monitoring the health of your individual assets and maximizing the collective value of your portfolio.”
How does Virginia Housing use ProLinkHFA?
“Virginia Housing uses ProLinkHFA as our “one-stop” for tracking all asset management activities – physical inspections and full-on financial monitoring. ProLink provides functionality for each step along the way. We are able to keep related inspection notes and track follow-ups as well as corrective action replies from owners and management agents, all in one spot.” says Kara.
What else does ProLinkHFA do?
Kara continues, “Asset Management activities and functions are only a link in the chain of Virginia Housing’s use of ProLink in an integrated way. Multifamily development and underwriting, capital markets, federal tax credit allocation, tenant compliance, and loan servicing work are all represented. This all sums to the advantage of ProLinkHFA as a beginning to end, usable system. We couldn’t turn back to a steppe process now that ProLinkHFA has paved the way and added lots of efficiency! It’s very valuable to our operation.”