Low Income & Affordable Housing
Kingfisher Management Corporation. is committed to providing the highest quality of management services to our clients. Our management structure is key to the success of our subsidized and affordable portfolio. We understand that the mission of our clients is fundamental in how we manage. KMC has built flexibility into its management process to allow each contract to be managed with our Client’s mission as the motivating factor.
With over 25 years of Low Income Housing Tax Credit (LIHTC) consulting and Management experience and over 25 years of HUD and Rural Development (RD) experience, our portfolio of affordable and subsidized properties is ever expanding. Many of the properties in our portfolio involve mixed funding sources that require extensive knowledge of multiple programs and their regulations. We understand the complex structure of subsidy layering.
KMC Management with its highly skilled employees is dedicated to handling program compliance requirements. The Compliance Team trains and supports staff in all aspects of program compliance including Fair Housing, agency reporting and ongoing training. Our dedication to affordable housing management has created strong and enhanced services in areas of Marketing, Compliance, Accounting and Property Management. Our flexibility and strength of supervision provide the foundation for all we do.
KMC is based on fundamentals of “hands-on” management. This approach is accomplished by a team relationship between onsite staff and supervisory staff from our Central Office. KMC’s team approach is company-wide across all departments and our Corporate Office. Teamwork is necessary to provide consistent quality management services. Consistency of purpose and clarity are essential to our success.
KMC has a good working relationship with agencies, CDC’s, syndicators and lenders who work with us in partnership to assist in the development and review of policies and procedures. KMC has extensive protection integrated within our procedures to assure the ultimate accuracy of every tenant file and has never had a tax credit recaptured.
The sophistication of KMC’s marketing department has given us a significant advantage in the industry. Our ability to provide outreach efforts to the community, track lease up progress, and coach employees daily has allowed us to lease properties in our portfolio within the time limits provided by the general partners an syndicators. This adds significant value to our clients including positive credit adjustments and early rental income upon construction completion. We are cautious in this approach to actively lease units quickly with good residents who are successful in their tenancy. We are also able to track occupancy on a daily and weekly basis, which leads to better management decisions and peace of mind for our clients.
Project Based Section 8
KMC manages and provides consulting services to Project Based Section 8 properties including properties that have undergone HUD Preservation and the Rental Assistance Demonstration Program (RAD). KMC administers all Project Based Section 8 contracts from its Central Offices including all certification and voucher transmittals.
KMC is the industry leader in HUD project management and manages HUD projects under almost all HUD regions in the country. KMC also provides assistance in HUD’s Department of Enforcement proceedings. We understand there are many nuances with managing HUD programs, which is why KMC has a dedicated team under an experienced leader assigned to working with HUD and tracking all regulatory changes.
In recent years, HUD Compliance has become increasingly difficult and complex. This not only affects existing residents, but also places a large time demand on site staff. Our compliance team takes great pride in working with site staff and supporting them through this process. To this end, many of our recent HUD lease-ups have occurred within a timely manner. Coordination and experience in key positions allows this to happen efficiently and correctly. Lastly, KMC is very well versed in the processes necessary for obtaining HUD approval for a management agent transition.
KMC very well understand the intricacies of the Rural Development Program requirements. Working with residents to comply with current regulations requires experience and capacity. KMC has a dedicated compliance team who is charged with Rural Development program compliance KMC is familiar with the Management Agent Interactive Network Connection (MINC) for all purposes including the transmission of tenant data. All MINC transmissions occur out of KMC’s central office.
Home Funding
KMC has extensive experience with HOME funding under the Home Investment Partnership Program. The majority of these properties are funded with Tax Credits, State allocating agency financing or other funding sources. KMC has the flexibility and staff expertise to provide HOME specific leases, forms, unit inspections and reporting mechanisms and complying with the HOME unit mix in the building.
KMC is the industry leader in HUD project management and manages HUD projects under almost all HUD regions in the country. KMC also provides assistance in HUD’s Department of Enforcement proceedings. We understand there are many nuances with managing HUD programs,KMC serves the mixed income resident populations. The marketing department within KMC carefully evaluates each property to make sure each market is clearly identified with a strategy in place for each. Identification and implementation of a plan for each of these markets is critical to not only an efficient lease-up, but also to creating long term tenancy, both goals to maximize the long term investment to our Owners. KMC has been successful in leasing and retaining residents at all income levels between 30% and 80% of area median income. We have succeed due to our close agency relationships and traditional marketing efforts. Additionally, a sense of pride, ownership and consistency from onsite staff is crucial to ensure success. KMC serves the mixed income resident populations. The marketing department within KMC carefully evaluates each property to make sure each market is clearly identified with a strategy in place for each. Identification and implementation of a plan for each of these markets is critical to not only an efficient lease-up, but also to creating long term tenancy, both goals to maximize the long term investment to our Owners. KMC has been successful in leasing and retaining residents at all income levels between 30% and 80% of area median income. We have succeed due to our close agency relationships and traditional marketing efforts. Additionally, a sense of pride, ownership and consistency from onsite staff is crucial to ensure success.
KMC has further specialized in management of special needs populations. In addition at KMC we know how to take care of disabled, veterans and senior residents. The flexibility of our systems allows KMC to provide enhanced property management services that allow long term financial success of the properties while developing a supportive community for our residents. Maximizing existing relationships with agency partners greatly enhances our ability to provide a long term housing community for our residents.
KMC works closely with clients, housing partners and service providers to deliver custom property management services that match the unique property characteristics and intended housing goals of the projects we manage. As the affordable housing programs have become increasingly “layered” over recent years, and as Illinois and Indiana in particular have created programs aimed at supporting and housing hard-to-house populations, building, managing, and maintaining successful relationships with service providers participating in programs like Fresh Start has become increasingly important. Likewise, opening the door to applicants that have graduated from the Ready to Rent program not only helps to meet a housing providers goal of providing a home to a person or family with housing barriers, but is also a great leasing tool. We have also been involved in partnerships that require an even greater level of customization, such as the thorough tuning of criminal history limitations or the creation of pre-screening criteria to be utilized by the participating service providers prior to referral.
One of the benefits of having worked in affordable housing for as long as we have has been the partnerships and relationships that we’ve had the chance to forge with the various non-profit agencies, HUD, IHDA, IHCDA, WEDA, City of Chicago that are committed to affordable housing.