July 30, 2024
Affordable Homes & Communities (AHC) and a team from Georgetown University’s Executive Master of Business Administration program in Dubai set out to show the impact of AHC’s Resident Services and develop a plan to help AHC reach its five-year goals. On July 18, after months of collaboration, the students presented their findings to AHC and other guests.
The students — Ahmad AlDashti, Eman Al Madani, Fahad Abdulrahim Kazim, Kristina Luck, Mai Yousseff, and Maitha AlAli — collaborated with a team of AHC staff to learn about AHC’s Resident Services, operations, and finances. The team analyzed data and developed steps AHC can take to expand in many areas, including fundraising, sustainability, and communications.
“This brilliant group brings a variety of skill sets and a high level of expertise – from across the world,” Cindy Rozón, AHC Senior Director of Resident Services, said. “Their hard work and recommendations will ultimately help AHC elevate our resident services, reinforce this essential component of our affordable housing communities, and raise capital so we can continue to expand our work.”
Their research looked at leading U.S. affordable housing companies nationwide that offer diverse resident services. They found that the most common services – provided by more than 50% of the organizations researched – are eviction prevention/financial capability services, health and well-being services, food security services, and long-term supportive housing.
The less common services – and an area of strength for AHC – are K-12 education, workforce development, child development, and tax preparation services.
Drawing on research from a Mercy Housing/Enterprise study and AHC information, the group found:
Resident services improve resident well-being, which in turn leads to longer tenancies, increased satisfaction, and stronger community cohesion—ultimately enhancing property value.
Investing in resident services reduces turnover rates and nonpayment issues. This leads to lower costs and increases occupancy. Again, this fosters stable communities, which enhances property value.
The Georgetown team also recommended ways to further boost value and revenue. For example, they recommended integrated retail spaces “to enhance convenience, fund resident services, and support local entrepreneurship.” This idea would provide funding for Resident Services programming and opportunities for residents to achieve economic independence.
The group encouraged AHC to continue and expand its focus on sustainability and energy-efficient efforts, both to improve resident well-being, support access to green financing and grants, and increase savings.
Enhancing communication was another area of focus for the team. They recommended:
Diversifying communication channels with stakeholders, in particular AHC residents.
Improving communication with investors, leveraging more consistent and expanded outreach.
Leveraging technology to streamline and track communications, for example a customer relationship management (CRM) system.
The students shared ways to address resident needs and gather partner feedback, such as regular surveying and analysis. They emphasized the importance of flexibility and embracing new technology.
“It’s important to adapt and be agile in adopting new technologies or even business models,” Ahmad said. “We have to be very agile with the market — otherwise, we will lose our clients.”
Following the presentation, Paul Bernard, AHC President & CEO, asked what the students envision for AHC’s future. The team was optimistic about the opportunities for growth and increased communication with residents.
“I see more growing, more units, more buildings coming in, and more partnerships,” Kristina said.
Before the presentation, the students toured AHC communities and spoke with residents. Their recommendations aim to enhance resident experience across AHC's communities.
“Placemaking is one thing that I find very important,” Fahad said. “With the eight properties we visited, a lot of fantastic things were happening there. If we're able to standardize services across the board with the new properties coming in and build it as part of the [resident] journey, I think this is a great opportunity for AHC to take advantage of.”
AHC is excited about the next steps, possible pilot initiatives, and the ways to incorporate new ideas to better support residents and communities.
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