Citing the company’s professionalism, responsiveness and diligence in managing affordable apartment properties throughout the state, the Washington State Housing Finance Commission has honored Indigo Real Estate Services, Inc., of Mercer Island with a Proud Partner award.
Presented recently at the annual joint convention of the Affordable Housing Management Association of Washington and the Affordable Rural Housing Council, the award is the first in a new yearly tradition of recognizing outstanding property management.
“Property management is the key to the long-term success of affordable housing,” said Paul Fitzgerald, director of the Housing Finance Commission’s Asset Management and Compliance Division.
“Indigo is a standout because they believe in ongoing training for their staff and they understand the best practices of management.”
Indigo Real Estate Services manages a large portfolio of affordable housing in Washington, Hawaii, and Georgia on behalf of the properties’ owners. Indigo’s Washington state portfolio of more than 3,000 apartments ranges from the Canadian border to Vancouver, Wash.
The Commission has helped to finance more than 97,000 apartments statewide since 1983 through housing tax credits and housing revenue bonds. These units are subject to various requirements for the long term (10 to 40 years), such as limits to tenant income and rent charged, as well as proper maintenance.
The Commission’s Asset Management and Compliance Division monitors almost 900 of these properties statewide for compliance and conducts on-site inspections. The division also trains property owners and managers like Indigo in complying with numerous rules and reporting requirements.
The Indigo compliance team has 34 years combined experience in the affordable housing industry. Each onsite team member is required to attend training annually. Managers and leasing agents work collaboratively with the home office to monitor certifications—such as income certifications for residents—and stay in compliance.
“We love management companies that respond quickly to the Commission, to residents, and to property owners,” Fitzgerald added. “This award for Indigo is well deserved and we look forward to continuing our partnership.”