Why Partners Works
Partners' work in supportive housing has focused on providing housing for special needs populations (persons with mental illness, substance abuse history, AIDS/HIV, physical/development disabilities, or domestic violence). Linking social services with affordable housing provides a stable environment within which an individual can rebuild a life. A property manager who understands this population is the key to providing that stable home. Not only has Partners stepped up to the challenge of housing this population, but the organization has also developed a method to address the requirements of the various funding streams necessary to sustain it.
We do not contract with a third party to provide property management services. Partners has substantial knowledge and experience about the people we serve, which can contribute to the longevity of our housing projects. For-profit property management companies typically do not fully understand our residents and the practical realities of the issues they face. In addition, the management of supportive housing is run on an extremely tight budget due to low rents. This requires creative management, which often does not fit the mold created by large property management companies.
The purpose of our mission-driven approach is to deliver high-quality property management to supportive housing units for individuals at the lowest incomes (below 50 percent of area median income). Our operating objective seeks to meet the criteria of a “double bottom line:” financial operating success for the organization and satisfaction and success of the resident.
Financing
Partners In Housing is a development corporation and always will see development as its primary role in ending homelessness. But we have also learned over the years that for-profit property management companies do not understand the different between running a property which offers units at market rate and our communities which offer units to a different clientele at half the market rate, sometimes even less.
Supportive housing is cost effective. If not for our efforts, most of our tenants would be scattered among local shelters, jails, and mental health facilities, all relying on taxpayer dollars. Supportive housing requires the responsibility of tenants to pay rent and maintain housing while providing resources and encouragement to live up to those expectations. Although Partners is a not-for-profit, we avoid taking on debt in order to finance projects. Because of this, we must turn to other sources. We have traditional financial partners, including banks, investors, and others. Partners’ basic funding sources include tax credits, grants, and donations. We also work with government programs to fund some of the units we create.
Teaching Others
Partners In Housing has developed a cost-efficient, practical approach to creating affordable housing. Our staff works with organizations looking for successful examples of supportive housing concepts. Please contact us to discuss how Partners can help you meet the housing needs of special populations in your region.
