Preliminary Lessons Learned 1. Federal programs must be improved: As with many bureaucratic solutions, relief such as the CARES Act must be more easily attainable, move at a quicker pace and be less administratively burdensome. In a nutshell, deploy broadly available emergency rental assistance faster. 2. Resident Services are vital: With most properties shifting their resident services to focus on providing meals, PPE, etc. rather than in-person programming, the pandemic validated more than ever the importance of on-site service provision. The study also points to another benefit of resident services: 83% of respondents report evidence that participation in such services programs helps prevent skips and evictions. Finally, a study of educators conducted by The NHP Foundation and Enterprise Community Partners in 2020 further concluded that “housing and service providers should work collaboratively with schools to develop formal service provider partnerships so schools can more easily connect students and their families with the assistance they need.” 3. Landlords and management companies need to rethink how they provide resources to help renters stay housed. Property owners view themselves as a key provider of resources for renters, however few renters rank owners as highly as they do family and friends. What does this discrepancy tell us? Owners may want to probe deeper on this issue. We have all learned that residents in affordable housing are resilient, looking to find any way they could to pay rent during these difficult times. Property owners and managers need to continue to foster good relations with residents which will put everyone in a better place for the next health or financial crisis. 4. The industry can survive with less travel. This is a big takeaway for a couple of large providers in the survey, Anecdotal conversations within the industry have reported the same finding. While nothing will ever totally replace in- person contact, it has become clear that constructive, productive work can be accomplished working remotely. NHPF successfully pivoted to an all virtual format for its 4th annual Symposium “Growing Up & Out of Poverty: Why Housing Matters” which successfully drew 91 corporate sponsors and over 400 attendees during a year when Covid-19 prevented most live events. 5. Short and long-term business strategies must be adapted. Additional comments from respondents as well as other industry conversations point to this: In the short-term developers, must factor in additional care for residents, fluctuating collection rates, and resulting cash flow concerns. In the long- term, the industry must take more care on the construction side to make
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THE NHP FOUNDATION
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