by Jill Cromartie, HCCP
Managing Director
Simple Asset Management
Technology continues to reshape how we manage affordable housing assets. For owners and property managers in the LIHTC space, new tools are not just about automation — they’re about accuracy, insight, and proactive decision-making. When used strategically, technology becomes a force multiplier that supports financial performance, compliance, and resident satisfaction.
Technology in Action
When people think of “technology” in asset management, software solutions often come first to mind. These systems have largely replaced the cumbersome network of Excel spreadsheets that once dominated the industry — saving time, reducing human error, and providing real-time visibility into operations.
Modern asset management platforms can now support everything from construction oversight and equity pay-ins to project management, compliance tracking, and stakeholder reporting.
Recently, artificial intelligence (AI) has emerged as a powerful addition to the toolkit. AI can assist with file reviews, financial analysis, checklist automation, and even Limited Partnership Agreement (LPA) abstraction. The intersection of asset management software, AI, and operational data forms a “trifecta” of innovation that enables LIHTC stakeholders to work more efficiently and with greater confidence.
Technology also supports risk mitigation and proactive maintenance, essential pillars of sound asset management. Beyond financial tools, hardware-based solutions can help protect property health and minimize costly surprises:
Solar panels can offset operating expenses by powering mechanical systems and appliances.
Water leak detection systems identify leaks early and alert stakeholders immediately — potentially saving thousands in damage and wasted utilities.
Electrical smart sensors detect overloaded circuits, preventing electrical fires and equipment failures.
In real estate, an ounce of prevention truly is worth a pound of cure.
Turning Data into Decisions
Data is one of the most underused assets in affordable housing. When gathered and analyzed effectively, operational data can guide smarter underwriting, strengthen financial projections, and improve property design and resident experience.
Industry groups such as NCSHA and NAHB publish benchmarking data on operating expenses by construction type, size, and region — valuable references for assessing performance. However, internal data can be even more powerful. Developers who consistently build similar products accumulate a wealth of historical insights that can enhance underwriting accuracy and identify efficiency gaps.
For example:
Internal pro formas should reflect actual operating costs based on comparable properties, not just standardized assumptions required in HFA applications.
If an owner uses multiple management companies across similar assets, per-unit annual expenses can highlight operational efficiencies — or reveal areas for improvement.
Asset managers, through site inspections and collaboration with property teams, can also relay valuable qualitative data back to developers. Feedback from residents and staff often reveals which amenities and design features add real value.
One notable example: a Georgia developer, after observing how seniors engaged with community spaces, successfully petitioned the Georgia Department of Community Affairs to substitute a required amenity for a grand piano. That piano became a gathering point for residents, enhancing connection and quality of life — a perfect illustration of data-informed design.
Design Feedback from the Field
Asset managers are often the first to spot how design choices play out in real-world conditions. Their feedback helps developers and owners make better long-term decisions.
Ventilation issues: Sustainable construction practices can create air-tight buildings that inadvertently trap moisture, leading to mold or material degradation. Asset manager reports can prompt design adjustments to improve air circulation and preserve building integrity.
Appliance fit and efficiency: In smaller units, the choice between side-by-side, stackable, or all-in-one laundry systems has cost and resident comfort implications. Feedback about performance — for example, machines requiring multiple drying cycles — can guide future product specifications and energy planning.
These insights not only inform future developments but also safeguard the health and longevity of existing assets.
Better Information, Better Outcomes
Ultimately, technology’s greatest value lies in the quality of decisions it enables. By leveraging data, AI, and smart systems, owners and asset managers can:
Enhance compliance and reporting accuracy
Extend asset life and preserve capital
Optimize operating expenses
Improve resident experience and satisfaction
When technology and asset management intersect thoughtfully, they don’t just make operations easier — they make communities stronger, more resilient, and more responsive to the people who call them home.
Disclaimer
NAHB is providing this information for general information only. This information does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such.
The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question.
None of this tax information is intended to be used nor can it be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer.
The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
This article was originally published in the December 2025 edition of The Credential, part of NAHB’s Housing Credit Certified Professional (HCCP) program.