Asset and Property Management
As a nonprofit developer and operator of affordable housing, CHI is responsible for managing the needs and expectations of many people and groups. Above all, our first responsibility is to the people who choose to live with us, our residents across the state. But in addition, we must meet financial performance expectations set by our investors and regulators, in addition to our internal standards for financial sustainability.
CHI's asset and property management department is charged with overseeing the broader performance picture of our rental housing, starting with how we care for and maintain our apartments and buildings, and rising to the level of the overall financial health of our investment partnerships.
The way we approach this challenge is closely governed by our relationship with NeighborWorks America
, a national network of organizations like ours striving to exhibit strong financial performance and ultimately provide quality service to residents and communities. NeighborWorks believes in three main principles of asset management, which are quoted here:
- A strong financial and operational foundation are necessary for organizations to handle the complex activities involved in developing and maintaining rental properties.
- Good asset management allows organizations to borrow and lend money, invest in new facilities and dedicate resources to resident services.
- Strategic asset management makes it possible to earn a "triple bottom line" of profitability, environmental sustainability and positive social impact.