MRI Software (“MRI”), a global leader in real estate software solutions, announces the launch of MRI Affordable Housing, an innovative property management and compliance solution for owners and operators of affordable housing and mixed portfolios in the United States. Its range of breakthrough features enables an unprecedented level of usability, compliance management, mobile access and integration with third-party technologies. The launch reinforces MRI’s leadership position in the US Affordable Housing sector, where its software is used to manage the property operations and equity for more than 50 percent of the market – 1.8 million units in 21,000 properties, worth $67 billion in equity.
“MRI’s introduction of the most advanced end-to-end solution for managing and investing in affordable housing today represents a new era for this historically underserved market, which is in vital need of greater support in the face of growing complexity and a severe shortage of available inventory,” said David Carner, senior vice president, residential solutions at MRI Software. “The launch of MRI Affordable Housing provides features and functionality that will simplify life for anyone operating in this sector.”
MRI Affordable Housing is an intuitive, hosted solution that draws on the company’s multifamily property management software experience and incorporates decades of expertise from several key acquisitions, beginning with Bostonpost in 2011. Over the last two years, MRI has acquired HAB Software, HAPPY Software, IPM Software, and Tenmast Software – all innovative software providers in the affordable and public housing space – and TCAM, a provider of asset management and consulting services to affordable housing owners, investors and public agencies. MRI now provides software and expert consulting services for all major stakeholders in the affordable housing lifecycle – from financing and development to asset, investment, subsidy and property management.
“Owners and managers of affordable housing face growing complexity today, increasingly handling multi-layered subsidies and mixed portfolios – including buildings containing both affordable and conventional units,” Carner noted. “It is absolutely critical for these organizations to have tools to more effectively manage housing inventory and track compliance rules across all of those layers. MRI Affordable Housing’s comprehensive functionality allows users to automate compliance for HUD Multi-Family, Tax Credit, HOME, and USDA Rural Development.”
MRI Affordable Housing is fully integrated with the company’s conventional multifamily property management and financials solutions, simplifying management for owners and operators with mixed portfolios and providing advanced reporting capabilities. MRI’s open architecture and vast partner network give organizations the freedom to easily integrate proprietary and third-party technologies to meet their unique needs. As a web-based solution, MRI Affordable Housing eliminates the headache of hardware and system maintenance while providing 24/7 accessibility from any location.
Other key features include:
- Comprehensive compliance engine that automates the resident certification process and allows easy submission of data;
- At-a-glance tenant files that provide quick access to household contact information, status, important notes and outstanding tasks;
- Assistance Connect online portal integration that allows for self-service certification, application intake, payment and service requests; and improved communication with applicants, residents and owners;
- MRI Financials native integration offers a single source for property and financial data to reduce errors and maintain accuracy.
- Process management dashboards drive efficiency and workflow and highlight key performance indicators;
- Role-based dashboards that display a snapshot of work to be completed and actionable insight into data;
- Global search makes finding information in the system a breeze;
- Centralized reporting using MRI Report Gateway delivers program insight to key stakeholders and allows for combined reporting on both conventional and affordable properties.
“On a very practical level, owners and managers don’t need to make multiple entries per household, and they have quick access to critical information and tasks to be completed,” Carner explained. “Other up-front benefits include more manageable online waitlists with better integration of eligibility data – which was traditionally a paper-based process – and a hassle-free way to complete background checks without leaving the software.”
