Yardi clients can see immediate benefit by adopting its virtual leasing and paperless compliance solution for applicants and residents
SANTA BARBARA, Calif., May 27, 2020 –A game-changing announcement from the U.S. Department of Housing and Urban Development (HUD) creates significant benefits for affordable housing providers.
On May 26, 2020, HUD issued a notice stating that it now allows electronic signature, storage and transmission of compliance and leasing documents associated with multifamily Section 8 affordable housing properties.
Digital signatures and file storage are core components of RENTCafé® Affordable Housing, which is Yardi’s online solution for virtual leasing and affordable housing compliance. RENTCafé eliminates the need for in-person meetings for transactions that formerly required physical paperwork, such as waiting list management, certifying eligibility for housing assistance, ongoing recertification of resident eligibility, payment processing and more.
“Eliminating the need for original, wet signatures on compliance documents is a big step for the affordable housing industry. With this announcement, HUD has made many compliance processes faster, easier and safer considering the current need for social distancing,” said Chris Voss, vice president of sales at Yardi® .
Yardi clients using Yardi Voyager® can implement RENTCafé Affordable Housing for Section 8 properties at no cost through the end of 2020. Yardi offers proven, leading-practice workflows and forms that affordable housing providers can have up and running in less than two weeks.
“This is a great opportunity for our affordable housing clients to see how RENTCafé can help reduce the cost and complexity of compliance by saving staff time, reducing paperwork and simplifying the certification process,” said Voss.
Yardi has advocated acceptance of digital signatures at the federal level for several years and looks forward to working closely with other agencies to expand the acceptance of electronic signatures and storage for more affordable housing programs.
Learn more about RENTCafé Affordable Housing by visiting Yardi.com/RENTCafeAH
Yardi develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, California, and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.