The affordable housing industry has been navigating a dynamic landscape, marked by both challenges and innovative solutions. Last week, the Lynx team had the opportunity to attend the Spotlight on Affordable Housing session at YASC in San Diego, where a range of pertinent topics were discussed. The insights shared provided a glimpse into the collaborative strategies and forward-thinking approaches shaping the future of this vital sector.
Key highlights of the discussion are below.
Power BI and Affordable Data
A development in the industry is the inclusion of affordable data within Power BI. This feature is now built into the system, eliminating the need for a separate add-on.
Understanding AI Technology
The discussion also touched on the topic of artificial intelligence (AI) technology. AI is defined as the simulation of tasks that a human would perform using a computer, highlighting its ability to learn and adapt. However, there are concerns that AI is often misunderstood as a perfect or independent solution, whereas it still requires programming and data to function effectively. The evolution of chatbots over the past five years was noted, indicating significant improvements in their interactivity and response accuracy. The future possibilities for AI include automating document sorting and guiding users through processes.
Enhancement of Verification Services
Yardi Verification Services helps to reduce the costs and complexities of affordable housing compliance. It helps site staff to save time with the verification process so they can focus on other areas such as asset management and resident relations. To further address this issue, it was decided that verification services can now be accessed directly through Voyager, providing a more streamlined process for all properties.
Onboarding and Training for Site Teams
To improve the onboarding process for new site team hires, a new curriculum has been introduced in partnership with the Aspire team. This focus on role-specific training from day one is expected to enhance the preparedness of site teams. Supervisors are encouraged to monitor the progress of team members through the Aspire training pathways to effectively prepare them for future promotions.
Career Aspirations of Gen Z and Millennials
The industry is also addressing the career aspirations of Gen Z and Millennials, who are looking for jobs that allow them to change the world and have a sense of purpose. With the growing need for affordable housing, linking homes to those in need is a key area of interest.
HUD Guidance and Implementation Updates
The affordable housing industry has been eagerly awaiting updates from the Department of Housing and Urban Development (HUD), but the process seems to have slowed down. The last written guidance from HUD was received in February, and since then, no finalized map guidance or forms have been published.
Conclusion
The session discussion reflected the industry’s ongoing efforts to streamline operations, enhance resident experiences, and cultivate a skilled and motivated workforce. If you’re looking to integrate these insights into your day to day business operations, get in touch to find out how we can help.
