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Year 15 Dispositions: Navigating the Challenges with Purchase Options and Rights of First Refusal
September 20, 2020
Asset management is, quite simply, achieving the owner’s goals. But what are our organizational goals in a world shaken by the pandemic and riven by inequity and injustice?
Our traditional asset management infrastructure did not link our goals well. Our usual practice and measures such as data trending, projections, and analytics served financial outcomes but, often, not human outcomes. Now our goals and tools must work together. The survival of our residents, our communities and our properties are at stake.
This webinar featured the work of three outstanding nonprofit owners and where they believe asset management should be going in the next few years. Be inspired by bold ideas about how our work and perspectives may change around racial equity, resident health, community needs, disaster planning, technology, investment, reserves and more.
Listen to the recording to hear about:
- Resident services quickly pivoting to meet urgent needs, such as food security and internet connectivity
- Measuring resident outcomes that demonstrate impact
- Stress testing, cash flow analysis and financial planning
- Taking care of your front line workers
- Providing “grace, space and safe place” to discuss, address and creative solutions
- Communicating openly and regularly with residents, community, staff and stakeholders
- Forging new partnerships around services and funding
- Focusing on racial equity and assuring inclusion in their programs
Greta, Josh and Priya challenged us to be courageous leaders – to understand our full history; take calculated risks for the greater good and community change; and challenge and invite cross-sector partners to right wrongs that our communities’ experience. They encouraged us to change our approach and scale in order to address systemic change — through structuring deals, enhancing cash flow, addressing reserves and engaging residents.