The current crisis is demonstrating that housing is healthcare and so much more for each of us. It is our homeschooling classroom, our eldercare facility, and, if we are fortunate, our telework office. Folks who have a safe, secure, affordable place to call home are better positioned to avoid exposure to Covid19, to take care of their children and their parents, to telework where that is possible and to rejoin the workforce as jobs open up. So stable access to affordable housing is fundamental to our families and to our communities.
This crisis is also demonstrating the importance of partnerships – and for HPET that means our best-in-class nonprofit partners, who have good, strong teams on the ground, with deep local experience and strong asset management capability. Our partners’ expertise is enabling them to respond in real time to meet changing property conditions.
While this crisis is unprecedented in so many respects, we at HPET can draw on our experience from previous real estate downturns, from the savings and loan crisis of the 1990s to major natural disasters like Hurricane Katrina and Super Storm Sandy to the housing bubble and collapse of 2008, 2009, and 2010. Key lessons that continue to be relevant include act quickly, stay nimble and evolve your strategy, communicate often, and be prepared to do more than you ever thought you might need to do. In our case, we quickly moved to virtual operations and have been able to seamlessly conduct business remotely. We have been engaging more than ever with our partners and stakeholders and other housing leaders. And we are working together to meet the needs of our residents, our properties, our investors and our communities.
This crisis is also reminding us that we always have more to learn. So, we’d like to hear from you. What are you doing? What is working and what is falling short? How can we engage with you to help our communities? Email me at email@example.com and let’s start a conversation.