Education, training can elevate the status of affordable housing

COVID-19 had many impacts on real estate, and arguably, nowhere would that be truer than when it comes to affordable housing. 鈥淭he problem pre-COVID was primarily one of more demand than supply,鈥� says Shannon Heath-Longino, CPM®, a senior vice president and asset manager with Truist in Atlanta.
Then, as this year鈥檚 聽reports, 鈥淗ousing affordability worsened during the pandemic as the rise in both home prices and rents barely paused during the brief recession and then quickly accelerated as the economy reopened. Prices and rents are still climbing at some of the highest rates ever tracked, well ahead of relatively modest wage gains.鈥� The end result of that trend, of course, was a further demarcation between the haves and the have-nots.
And that doesn鈥檛 take into account a problem exacerbated by 鈥渢he added issues of pending evictions and government subsidies for rental assistance not being disseminated quickly enough,鈥� says the Atlanta-based Heath-Longino. With slow-to-process governmental relief, she says, 鈥渢he landlords 鈥� and, therefore, the property managers - got caught in the middle.鈥�
Heath-Longino is not a stranger to these issues, neither professionally nor personally. She manages some 65 affordable housing properties in Georgia and North and South Carolina, all with market-rate units included. But she also knows firsthand what life is like in what was once called substandard housing.
鈥淚 was born and raised in affordable housing in the East Lake area of Atlanta,鈥� says Heath-Longino, who is the 2022-23 vice president for 乐竞体育赛事直播鈥檚 Region 4. Her passion for the sector came from that experience, with a special emphasis added by her grandmother, who 鈥渁dvocated for better housing.鈥�
Heath-Longino, who was last year鈥檚 chair of 乐竞体育赛事直播鈥檚 Federal Housing Advisory Board, and served on the board鈥檚 task force, continues that advocacy today, because, as she says, 鈥淲e have to keep the needle moving forward.鈥� This is especially true for low-income families and the misconceptions typically attached to affordable housing.
鈥淧overty is always a part of the dynamic of our residents,鈥� she says. 鈥淭he perception has always been that affordable housing brings crime and drugs and undesirables.鈥� It鈥檚 also wrongly linked to people suffering with mental illness.
These misconceptions play into the level of market interest. As a result, 鈥淧otential developers worry that they won鈥檛 get the rents they want,鈥� she says. The reality of the red tape necessary to get into the market only made a bad situation worse.
Happily, it seems that federal agencies governing such programs as Low-Income Housing Tax Credits and Section 8 vouchers are streamlining their processes, Heath-Longino says, and 乐竞体育赛事直播 has been working with legislators to alleviate the disconnects of federal, state and local regulations that clog up the delivery of rent relief payments. (Heath-Longino and 乐竞体育赛事直播 director of Government Affairs Ted Thurn spoke on the issue in a 2021 webinar.)
In terms of misconceptions, 鈥淧eople forget that we do not choose circumstances such as poverty,鈥� she says. 鈥淪ome families are born into these circumstances. We all know someone who is one check away from the poverty level.鈥�
Much the same is true of mental illness, which knows no boundaries based on income level. The difference is, in most impoverished areas, ready access to resources that could help is almost non-existent. 鈥淵ou might have to take two or three buses to get to a hospital,鈥� she says, 鈥渨hich can lead to stress and neglect.鈥�
Decent affordable housing can change those perceptions and elevate 鈥渢he access to resources,鈥� Heath-Longino explains. 鈥淨uality housing brings schools, and it brings retail and healthcare resources,鈥� since a clean, well-run building is a magnet for area development. 鈥淧eople want to be part of a viable environment.鈥�
But this takes education, 鈥渁nd this is where 乐竞体育赛事直播 comes in,鈥� she says, especially in the professional management of the financials involved in a real estate asset. 鈥淧roperty managers are really the CEOs of their assets. They watch the checkbook for the developers and owners, and they know how every decision impacts the overall performance of the property.鈥�
This ability, gained in large part through the 乐竞体育赛事直播 educational curriculum, allows professionals to 鈥渨alk in and manage any property without qualms,鈥� she says. And it鈥檚 that hands-on, strategic partnership of manager, owner, and resident that will change the perceptions and elevate the status of affordable housing.
鈥淎s managers, and as a culture, we need to remember that we are all human, and all humans want better opportunities,鈥� she says. 鈥淲e all deserve that. We cannot progress on the assumption that someone looking for affordable housing is part of a problem. Someone鈥檚 economic class and circumstance do not always dictate who they are as a productive citizen.鈥�
Changing that perception clearly will not happen overnight. But Heath-Longino takes hope in the work 乐竞体育赛事直播 is doing on the legislative front, as well as in the ongoing education of its members and the market in general. She takes hope as well in the streamlining of the application process to gain access to affordable housing.
But there鈥檚 still much work to be done. 鈥淓ven a little progress is at least some progress,鈥� she concludes.