Asset Management

For those interested in our Asset Management Program, we’ve provided some helpful documents which you can view by clicking on below.

Rhode Island Portfolio Management Sustainability Initiative (RIPMSI)

The core activities of this Initiative involve the convening of two ‘Best Practice Work Groups’ to work on parallel tracks to create ‘culture change’ at both the organizational and regulatory levels to implement a statewide asset management system. One track will develop and improve the RI CDC industry’s collective capacity for sound asset management practices that financially strengthen their organizations and affordable housing portfolios. The second will focus on Rhode Island’s affordable housing regulatory and oversight process in order to provide useful, relevant, real-time information to enhance decision-making, build system capacity, cover CDC asset management costs and generate sustainable earned income for the system’s stakeholders.

RIPMSI Executive Summary

RIPMSI Project Overview

Asset Management Best Practices:

Early Warning Systems for Affordable Housing Properties: Identifying and Communicating Property Risk

Enterprise’s ‘Early-Warning Systems for Affordable Housing Properties’ provides guidelines for developing an early-warning system designed to help a developer’s board of directors and senior management recognize and manage the risks of development and long-term property ownership.

Seattle Office of Housing – Housing Preservation Guide

‘A Guide to Preserving and Restructuring Affordable Housing’ has been developed to help owners and sponsors of affordable housing extend the longevity of their existing rental housing portfolios. [It offers] a full range of preservation strategies, from creating forward thinking asset management plans to completing financial restructures and property improvements.

Long-Term Viability and Affordability of Multifamily Rental Housing, Jeffery Lubell

Can long-term affordability likewise be used as a strategy for serving more families at current funding levels if applied to affordable multifamily rental housing?  This Center For Housing Policy article explores this critical question and others involving long-term sustainability of affordable housing.  It also links to important tools for sustainability, particularly a functional Capital Need Assessment aid.

Asset Management Tools

Asset  Management  requires proper planning  and  reporting to  demonstrate portfolio performance.  Proactive asset  management should involve practical management  tools  rather  than reporting narratives.  These  asset  management  tools  should be  working  documents and should  tie  to  existing  financial  reporting  and management systems.  For this  reason sample documents are supplied to help guide each organization in developing its own forms.

Property Sustainability Tool

The Property Sustainability Tool is intended to provide a framework for thinking about a property’s current financial condition as well as the financial options and challenges of maneuvering them into long‐term operational sustainability.  It has been adapted from a NeighborWorks American initiative and some of the references in the guide are specific to NWA reporting requirements.

APS Sustainability Report Memo

APS Tool

APS Tool, macros disabled

Asset Management Plan

Owning and managing affordable housing projects requires many activities related to Asset Management. There can be serious consequences if a property and/or project deteriorates or fails. It is, therefore, prudent to create a written plan for each real estate project that outlines roles and responsibilities, reporting requirements, goals, etc…

Asset Management Plan Sample 1

Asset Management Plan Sample 2

Deal Books

Deal Books are  brief  documents designed to  help  managers  and  new  staff understand  each  deal  in very practical  terms. They  should summarize  in a few pages the financial  and  regulatory requirements  for  each  deal  or partnership for  all properties: including,  at  minimum, the  ownership  structure,  operating benchmarks  and  fees, cash  waterfall,  tenancy  served ,  key compliance requirements,  insurance  requirements, and exit terms.

Deal Book Sample 1

Deal Book Sample 2

Portfolio Dashboard

A Portfolio Dashboard is a tool that collects important information from each property in one  simple document.  The information should include relevant performance data (occupancy rates, turnover time, etc…), fiscal information ( budget variances, replacement reserves, etc…), and evidence of compliance (re-certification, DSCR, etc…).

Portfolio Dashboard Sample 1

Portfolio Dashboard Sample 1, xls

Portfolio Dashboard Sample 2

Portfolio Dashboard Sample 3

Portfolio Dashboard Sample 4


Watchlists are typically intended to be internal documents that highlight properties that are experiencing difficulty.  Criteria for individual performance indicators may be set which would trigger the property to be placed on the watchlist.  Watchlisted properties should be given special attention in an effort to correct the issues.  It is important to note that not all properties are able to perform equally and the watchlist can be an important resources when evaluating properties for disposition.

Watchlist Sample 1

Watchlist Sample 2

Regulatory Information From Rhode Island Housing

RIH Annual Tenant Certifications- HERA 2008