Homeport’s Asset Management Team is a participant in the Asset Managers Users Group, a nationwide group of Asset Management and Finance/Accounting CFOs, directors and staff from NeighborWorks America (NWA) and Housing Partnership Network (HPN) organizations who conference monthly to discuss issues and ideas in the Asset Management area that will be of benefit to all organizations. During one of these monthly conference calls, Homeport’s Director of Asset Management, Bill Brett, shared a tool that Homeport developed that allows a quick view of individual property and category performance at a glance, using color-coded performance benchmarks. This led to a request to present the tool during a future call.
Bill, Valorie Schwarzmann (Homeport CFO) and Glen Arbogast (Homeport Staff Accountant) presented this tool, called The Watch List, during a conference call in 2012. Participation in this call included over 90 people from organizations across the country. The success of this presentation led to additional presentations of the material to CEOs, CFOs, and training course attendees at a NeighborWorks Training Institute held in New Orleans, LA in May, and has generated continued interest in the tool since.
The Watch List measures key performance areas in evaluation of Asset Management’s rental portfolio. Using both financial indicators and management assessments, it provides a grid of colors for each property and each measurement category on a single page that enables the Asset Managers to immediately identify properties or categories of concern that need priority attention. Since implementing this tool, Asset Management has been able to identify positive performers as well as negative trending performance and take immediate action to institute corrective actions to deficiencies. This has resulted in improved performance in our affordable housing rental portfolio, not to mention additional national recognition for Homeport and their team.