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CLIENT SUCCESS STORY
Pennrose
Since 1971, Pennrose has improved the lives of working families by developing safe, vibrant housing communities. Its legacy includes the neighborhoods it enhances, the residents it serves, and the employees who uphold its core values. Pennrose holds a national reputation for excellence in real estate development and multifamily property management.
Our RightSource account manager meets with us weekly. It’s not just support, it’s mentorship.
Sam Lopez
Director of Yardi Systems, Pennrose
Products featured
The benefits
With Yardi RightSource, Pennrose achieves greater accuracy and faster certifications through effective communication tools. The organization maintains complete audit trails for every certification file. It also gains confidence knowing that adding new properties will not overload compliance staff.
The company
Pennrose has a national reputation of excellence in real estate development and multifamily property management. Founded in 1971, Pennrose has a mission to improve the lives of working families by creating safe, secure housing communities. Pennrose has demonstrated an exceptional ability to develop and manage high-quality, affordable, conventional, mixed-income, mixed-use and master planned communities.
The challenge
Finding the right fit
Staying compliant with evolving regulations across multiple programs and regions is complex and critical to Pennrose’s long-term growth strategy. Pennrose sought to streamline affordable housing management, finance and compliance while relying on scalable support and personalized service delivery.
The solution
Yardi RightSource
Yardi RightSource assists Pennrose with compliance auditing and documentation management. RightSource offers fast file reviews performed by a team of expert affordable housing professionals as well as integrated tools, centralized records and direct support from Yardi compliance experts.
The story
Pennrose manages many affordable housing programs across multiple states. Industry challenges grow with each new property added to its portfolio. Pennrose has implemented technology to help alleviate the work burden from its team, including Yardi RightSource.
RightSource provides Pennrose with fast compliance reviews to assure compliance with applicable affordable housing regulations and up-to-date forms for household certifications.
Full visibility into the review process
RightSource gives Pennrose a full audit trail, from when an auditor enters a finding to how team members respond. Nothing gets lost, and accountability is built in, according to Sam Lopez, director of Yardi systems at Pennrose.
White glove support
Pennrose holds weekly calls with their RightSource account manager, creating a mentorship model that benefits internal staff and helps train them on best practices. “Our account manager meets with us weekly. It’s not just support, it’s mentorship,” says Lopez.
Compliance confidence while scaling
According to Lopez, RightSource is a key component of Pennrose’s future portfolio plans. With RightSource, Pennrose has the structure it needs to implement an expansion plan, including new properties and regions served, without compromising its compliance performance and with mitigated risk of program mandates hindering growth plans.