Keeping pace with change is the new mantra for subsidized housing providers
Subsidized Housing providers (Section 8 housing), have changed substantially over the years, with many also becoming house builders (or working closely with house builders). And the sector is still going through massive change meaning that providers are having to do more with less. These changes are due to a number of factors:
- Demand continues to outstrip supply due to increased populations.
- Property portfolios have become more diverse.
- Supply of labur and the materials needed to increase the build-rate has been affected by the pandemic and energy and fuel markets.
- New regulations and policy shifts are introduced.
- Budgets are under mounting pressure with high inflation and significantly higher cost bases impacting operating costs.
- Acquisitions and mergers in the sector is driving transformation where organizations end up with disparate, fragmented systems.
- Increasingly ambitious targets in terms of energy efficiency and sustainability.
and often a mixture of the above.
Subsidized Housing providers play a critical role in providing affordable homes, but in recent years, policy changes have heightened pressure to grow income from non-traditional sources – from providing social services, to partnering with commercial enterprises – that has resulted in an increasingly diverse set of operations and increasing demand on managing suppliers and contracts.