2015 rjtcf asset management summit

WINTER 2015
2015 RJTCF ASSET MANAGEMENT SUMMIT
INSIDE THIS ISSUE
Portfolio Realignment
2
New Processes
2
Compliance Corner
3
Native American News
3
Marketing—The Importance of Outreach
4
Property Spotlight
5
Avoiding Trouble On Site
6
Important Information
8
ASSET MANAGEMENT TEAM
Brad Bartlett, Asset Manager
Joe Bassford, Business Technology Analyst
Mark Bieberbach, Senior Asset Manager
Missy Covington, Director of Compliance
Lori Dobson, Asset Manager
Caroline Ennis, Compliance Specialist
Josh Gilles, Portfolio Manager
Kent Gordon, Senior Asset Manager
Charles Gumucio, Asset Manager
Mary Hammond, Asset Manager
Chuck Kane, Partnership Distributions Manager
Barbara Knapp, Administrative Assistant
March 26—27, 2015
RJTCF Home Office &
Renaissance Vinoy Resort
Please plan to join us this March for our Annual Asset Management Summit.
Over two (2) days in the Florida sunshine,
plan to be provided with networking
opportunities and
receive in depth
information through stimulating topics and
be given new ideas on improving
operations.
RJTCF is excited to announce one of our confirmed guest presenters at the
upcoming Summit via this Newsletter.
Jeffrey A. Wilhite of Play2Win Seminars will be giving a rousing presentation on
fair housing as well as a breakout session in conjunction with our own Director of
Compliance, Missy Covington.
Jeffrey A. Wilhite is an attorney with a practice substantially representing landlords
for over twenty-five years. Wilhite’s firm represents thousands of units across all
ranges of the market, from high end to low end to Section 42 and 8 across the
country. Wilhite regularly defends landlords in Fair Housing litigation and teaches
landlord-tenant issues to owners, property managers, leasing agents, and
maintenance personnel.
For more information, please visit our website
RJTCFSummit.com. There, you will be able to register
for the Summit as well as be provided with hotel
information and additional Agenda items. Please check
back regularly as the Agenda will continue to be updated.
Hope to see you there!
RJTCF Asset Management Team
Robert C. Landis, VP, Portfolio Asset Management
Ric Langford, Portfolio Manager
Brian Lynch, VP, Portfolio Asset Management
Melissa Melvin, Transitional Operations Manager
Vickie McCrillis, Compliance Specialist
Sylvia Perez, Senior Asset Manager
Pamela Rich, Support Specialist
Wednesday, March 25, 2015
Evening Welcome Reception—Renaissance Vinoy Hotel & Resort
Thursday, March 26, 2015
General Session—Raymond James’ Home Office
Friday, March 27, 2015
Breakout Sessions—Renaissance Vinoy Hotel & Resort
RJTCF PORTFOLIO REALIGNMENT
A Team Effort...
By Ric Langford, Portfolio Manager
RJTCF has always prided itself on the stability of our Asset
Management staff. There are 11 asset managers on our staff
that work with our partners and their properties totaling over
1,100 partnerships. Four (4) asset managers have over 11
years’ service and only two (2) have less than 4-years with
RJTCF. Combined, our team has close to 100 years’ experience
with just RJTCF. We have maintained a long relationship with
the partners in each of our individual portfolios. As an example, I
joined RJTCF in 2004 and after my initial
training, I was assigned a portfolio. Until
our recent realignment many of the
properties in my portfolio have been there
since 2005. I am not unusual in that
regard.
Many asset managers have
maintained the same portfolio for many
years. I am sure that many of our partners have talked and
visited with the same asset manager for multiple years.
Relationships and bonds form, and hopefully, a sense of trust has
been built between our asset managers and your staff members.
We met with each asset manager to discuss their individual
portfolio and the specific needs of each. We discussed each
partner and their portfolio to make
sure we understood those needs.
Then we realigned the portfolio to
try to meet these needs going
forward with a new asset manager.
We met again with each asset
manager to outline our plan and
assignments. Some had concerns and did not want to leave
many assignments. We worked to meet those desires while still
keeping within our original intent for the realignment. The
process was hard on the asset managers. The relationships built
over the years are hard to move on from. We kept many of our
prior partners, but where geography would now not permit, we
were assigned some new partners.
As we move forward with our new assignments we will appreciate
all the work by our partners that are no longer in our individual
portfolios, and we will look forward to building new relationships
That is why realigning our portfolio was a difficult task that we did with new partners in the future. RJTCF is committed to providing
not undertake lightly. Changes in our asset management any resource available to help our portfolio remain successful.
resource needs, the regional locations of our new projects, the
If any of your properties have been affected by these changes,
many northern properties that require site visits in cold months,
your new Asset Manager will be reaching out to you. Please feel
and a need to balance the portfolio more equally among the
free to contact us (email links are on Page 1) with any questions.
current staff were many of the reasons for our recent
realignment.
ANNOUNCING NEW RJTCF PROCESSES!
Annual Business Reports
RJTCF is pleased to announce the new and improved online
submission of Annual Business Reports.
Please follow the following links (provided via email recently,
along with the Property Code & Partnership Information) to
submit your 2014 Annual Business Report(s) as well as upload all
of the supporting documentation!
September 30 Year-End Annual Business Report Link
October 31 Year-End Annual Business Report Link
December 31 Year-End Annual Business Report Link
09/30 fiscal year-end DUE DATE = October 31
10/31 fiscal year-end DUE DATE = November 30
12/31 calendar year-end DUE DATE = January 31
GP Certificates & Rent Rolls
In an effort to simplify the Quarterly General Partner Certificate
process and provide an easier means to send in Rent Rolls, we
have established a new procedure to enable just one signature,
quarterly, to serve as Certification for those of you who have
multiple Partnerships. In addition, as this Certification takes
place, you will now have the option to upload the specific quarterending rent roll along with this document.
An email will be sent prior to the end of Q1 with details so please
be on the lookout for how to complete this process. Here’s the
link for you to become familiar with the new form:
Quarterly General Partner Certificate & Rent Roll Upload
All Quarterly Reporting is due within 30-days of each quarter-end.
If you have any questions or concerns about these new processes,
please contact Pamela Rich directly or via the following email address:
RJTCFAssetManagementReporting@RaymondJames.com
Thank you!
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COMPLIANCE CORNER
-
Excellence in Compliance
What to remember:
On October 31, 2014 HUD issued Notice H
2014-15 changing the imputed rate for
assets from 2% to .06%.
This rate change is effective February 1,
2015. Be sure that you are using the new
rate of .06 when imputing assets for all certifications.
The RJTCF compliance team understands
and appreciates the amount of work required
in submitting initial tenant files. In an effort to
recognize those that go above and beyond to
submit the highest quality files we would like
to recognize the following recent recipients of
The Certification of Compliance Excellence:
What to look for:
HAND Property Management
The past few years have seen the release of new income
limits in December. For 2015, the
income limits are not expected to
be published by HUD until
February 2015. RJTCF will send
out a compliance alert when the limits are released. Be
sure to implement them within 45 days.
Yakima Housing Authority
Be.Group
CONGRATULATIONS and thank you for
submitting such excellent tenant files. Keep
up the good work!
NATIVE AMERICAN NEWS
By Mark Bieberbach, Sr. Asset Manager
The Zuni Housing Authority in Zuni/Black Rock, NM is RJTCF’s latest
Native American partner.
The Zuni Housing Authority was allocated credits in 2014 and has agreed
to partner with RJTCF in the rehabilitation of 8 apartment buildings with a
total of 38 units. The existing dwellings house 42,780 SF of 1st and 2nd
floor space. The existing construction was completed between 1975 and
1977 with rehabilitation in the 1990’s.
The project sites are located in the Blackrock Community of the Zuni
Pueblo. There are a wide variety of locational amenities and employment
opportunities in the area surrounding the project sites. These include a
Food Distribution Services Building, radio station, hospital that serves a 30 mile radius, fire and EMS services, ZHA, and Zuni’s
construction services. A little further southwest down Avenue B is the high school, four-year college, Zuni Home Healthcare, Zuni
Senior Center, and Zuni Healthy Lifestyle Building that includes the food stamp program and Women, Infant, and Children (WIC)
Program.
John Fischer, Acquisitions Manager with Raymond James Tax Credit Funds, along with representatives from nine different agencies
participated in the groundbreaking ceremony held in October 2014. The Construction and lease-up is scheduled to be completed in
2016.
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THE IMPORTANCE OF OUTREACH
How to Effectively Outreach
Written by Sprout Marketing and published in Rent and Retain
If you outreach market effectively, they will come. So what’s the
secret to being effective? It starts with a smile, includes targeted
marketing pieces and fun goodies and ends in follow up. Let’s
take a closer look at these ingredients:
Befriend the Gatekeeper
Smile, then smile some more.
Walking into a business can be
daunting, however, hardly anybody
can resist returning a nice smile.
Your attitude towards outreach
marketing makes a difference as
well. Always remember that you’re not bothering them- you
represent the buying power of hundreds of families in the
community and you’re offering a mutually beneficial partnership.
So smile like you mean it!
was the last time you drove around the neighborhood or googled
surrounding businesses? Where do your residents work and
play? What is important to the demographic- location, price,
amenity or lifestyle? Armed with this information, you can create
collateral that targets your demographics.
Make Yourself Memorable
Would you go to a dinner empty handed? Never! So why would
you visit a business without a little hospitality? Goodies open
doors and make friends and they also get you remembered. What
kind of goodies? The trick is for them to be unexpected and/or
unconventional. Make sure you get credit for them and label each
item with your community information. Anything that helps you
stand out from the crowd, can help you get your foot in the door.
You also want to be memorable in a good way. Be sure to dress
for success! We recommend dressing one step above the
A smile will only get you so far. Your objective is much more than businesses you’re visiting.
leaving a stack of flyers. You’ll want to practice your presentation
Follow Up Fun
so you’re comfortable and able to overcome potential
You can’t follow up if you don’t document, document, document!
conversation stoppers. Not only do you want to become the
Taking good notes is paramount. You’ll want to record the
gatekeeper’s friend, you want to see if anyone is currently looking
business name, location, time of visit, what is left, whom you
for a new home, as well as branding your community and building
spoke with and any personal details about the person or
repertoire. It’s also a great time to locate support for your resident
conversation. Don’t be afraid to ask for their business card either!
events through cross-promotional activities.
Now, make sure you schedule time to follow
Your first visit might feel like a total disaster. Perhaps you
up on interest. You’re creating a sustainable
muddled through it. Whenever I make pancakes, the first one is
route. This is not a one-time deal where you
always a failure. So if you mess up on the first visit, toss it out like
can expect a rush of instant traffic. Outreach
the first failed pancake and try again. Just remember, people will
marketing is about branding your community
forget what you say, but they will never forget the way you make
in the surrounding area and staying on their
them feel. So if you show a genuine interest in them, arrive and
mind. Feel like you’re done? It’s time to do it
leave with a smile, you’re doing better than you think!
all over again!
Bulls eye
Please visit WatchYourBusinessSprout.com to subscribe to
Since each business or niche demographic is different, your
Sprout Marketing’s free Newsletter.
message must be different. One flyer or marketing campaign
does not fit all. In order to influence purchasing, you must pull at
their heart strings. This first requires you to identify and create a
definable marketing strategy so you’re not striking the air. When
YOUR INPUT IS VALUED
If you have an idea for an article or would like your property to be spotlighted in an upcoming issue of
“Outlook on Asset Management”
please feel free to contact
Pamela Rich at (800) 438-8088
Pamela.Rich@RaymondJames.com
Any and all comments are welcome!
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PROPERTY SPOTLIGHT
HELP Genesis Clinton Avenue
Newark, New Jersey
By Lori Dobson, Asset Manager
On a former cracked, bare asphalt lot surrounded by a dull, rusty fitness area, common area hallways are
chain link fence on the east-west frontage of Clinton Avenue, a enhanced
with
cheerfully
playful
new multi-family residential community slowly took shape – its patterned wallpaper. Primary colors
steel frame, modular construction covered by a modern, art- decorate the large, airy central atrium
inspired façade of large, bright windows set in smooth walls of seating area with soaring views to the
blended, primary colors – earth tones of blue, red and cool cream. large, rooftop skylight. A second floor
A mixed-use community of multi-family
outdoor seating area
residential, retail and commercial, Newark, NJ
also features generous garden plots to give
HELP Management
welcomes its newest LIHTC development,
residents the opportunity to not only enjoy
Company, a Not for Profit
Genesis Clinton Hill
green space right in their community but grow
with over 18 years’
Apartments.
healthy vegetables for home consumption, right
experience managing LIHTC
in their own “backyard”. Genesis Clinton Hill
Genesis Clinton Hill is a
developments, completed
also participates in the NJHMFA Green Future
4-story midrise with 55
the initial lease up ahead of
Program and maintains an array of solar panels
apartment homes in
schedule and by early
on the roof, providing for more than 75% of the
one, two and three
September, 2012, the
community’s common area energy needs. The
community was fully
bedroom configurations
project is the first LEED Platinum building in the
occupied with a wait list.
set on a .87 acre site in the densely populated
area.
Clinton Hill area of New Jersey. The new
apartment homes were eagerly anticipated in an
HELP Management Company, a Not for Profit
area where the average LIHTC vacancy rate is 1.59% and waiting with over 18 years’ experience managing LIHTC developments,
lists stretch into the thousands for families in need of affordable completed the initial lease up ahead of schedule and by early
housing. Developed by NY and NJ-based Not-for-Profit HELP September, 2012, the community was fully occupied with a wait
Development, the project completed construction in late April of list. HELP Management continues to manage the project along
2012. HELP, the leading provider of jobs and services for with a sister Newark NJ property developed by HELP
homeless veterans and families, continues to pursue every Development.
opportunity to provide service-enriched housing to people in
Total development costs of $15.5 million were financed with tax
need, with a goal of 200 units of new housing each year.
credits and funding from the Make It Right Foundation and TD
Genesis Clinton Hill is designed with families in mind – the Bank. Raymond James Tax Credit Funds (“RJTCF”) syndicated
apartment homes provide generous living space and kitchens the tax credits, which were purchased by TD Bank. Another great
with glowing, warm mahogany-tone cabinets and energy-efficient project built with YOUR help here at RJTCF!
appliances. Baths feature the latest in ADA-compliant design and
fixtures. The community is also a transitional housing facility;
providing pre-furnished units that are available to meet the needs
of homeless families in the area. HELP Social Services also
provides various social services on-site to the residents.
Common area amenities are innovative – along with typical
features such as a computer room, covered parking garage and
WHO IS RAYMOND JAMES?
Raymond James Tax Credit Funds (RJTCF) is a wholly owned subsidiary of Raymond James Financial, Inc. (NYSE-RJF). Since
1969, subsidiaries of RJF have been among the leading syndicators of affordable housing. Raymond James Tax Credit Funds has
raised over $5 billion in equity for more than 1,600 properties in 46 states since the inception of the tax credit program in 1986. Our
firm has closed over 90 funds with investors and each of our funds has been successful.
Our corporate culture revolves around a philosophy known as “Service 1st,” which pervades everything we do, especially in how we
cultivate and manage our relationships with partners and investors. We have a deeply experienced Asset Management Team who’s
portfolio continues to grow with recent closings in New York, California, Utah, Tennessee and Illinois.
5
AVOIDING TROUBLE
Dealing with Safety Issues at Your Location
By Bob Landis
Although managers do not want to ever state that they are
providing a “secure” living environment in lease documents,
leasing presentations, newsletters, website or any other publically
available media, there are a number a things that managers in

our portfolio cite as good practices to avoid trouble. Here are just
a few:

As part of the resident application process always perform
criminal background screening on all lease holders and adult
occupants. Have a firm policy on what you will and will not
accept with regard to convictions that are
found.

Make sure that your lease documents
have strong language on what will happen
if a current resident is convicted of a major
crime. Also make sure that the conduct of
guests and invitees on the property is addressed, as well.




Many of our new and rehab properties have employed
electronic access control systems using key fobs to limit
access to amenity areas, laundry rooms, building entrances,
parking areas, fitness rooms, etc. Costs continue to decline
and retrofitting an existing property may be worth
considering. Managers particularly cite the ability to “turn off”
access if a current resident is not performing to the standards 
of their lease and the ability to automatically have time limits
on access to common areas without a staff member having
to physically “lock up”.
Key control on the property is a property management basic.
No property should have any “master” keys and there should
be some type of key control system, manual and electronic
systems are available, that will enable tracking of keys that
have been checked out. Experts cite that there should be at
least three levels of control for site keys when the onsite
office is closed: a locked office, a locked room or closet
containing the key box, and a lock on
the key box itself. A coding system
should be used and no keys should
have an apartment address on the
key tag. The code book or list should 
not be kept near or in the key box for maximum security.
Property managers say that discrete numbered parking
stickers, without the property name, are worth considering so

that resident vehicles that belong or don’t belong on the
property can be identified. Guest parking passes for
overnight parking require discipline to maintain but enable
quick identification of vehicles that are parked illegally.
Some of our developers have installed extensive video
surveillance systems as a deterrent to illegal and unwanted
activity and to provide a record that could help authorities
apprehend perpetrators. The very best systems in our
portfolio cover all public areas of the property, including each
apartment entrance, have enough recording capacity to
cover up to a month of activity, and in some cases can be
directly accessed by police via an internet connection even
from a police cruiser. While many locations may not warrant
such extensive systems, a number of our managers at least
want to track who is accessing secured building entrances
and who is entering and leaving the property in a vehicle.
Many local police forces have crime prevention or community
police officers who will speak to resident groups on staying
safe in a multi-family living environment. A periodic meeting
onsite with your residents may also help you to meet
supportive service requirements of your state tax credit
allocating agency. Residents also will appreciate direct
access to the professionals.
The use of “courtesy officers”, off duty police or other after
hour’s representatives of management
requires very careful planning and
coordination for maximum effectiveness
and to minimize risks. Costs can be
significant and consideration of what
you are trying to accomplish is
important. Some of our managers have
set up “sub-stations” or a place on the
property where local law enforcement
can take a break. At a minimum,
maintaining open communication with the local authorities
and welcoming them on your site is considered a very good
practice. Research best practices thoroughly before
implementing.
Educating and encouraging residents to report suspicious
activity promptly to the onsite staff and/or the authorities as
part of the move-in process and in newsletters and other
communications.
Train all of the onsite staff frequently on how to respond to
different safety issues on the property.
Continued on Page 7
6
AVOIDING TROUBLE, continued
Dealing with Safety Issues at Your Location, continued
This is a very large and important topic in the property
management industry and all aspects are not covered here.
Also consult with professional trade associations for relevant
publications and articles including:
Most experts stress that management has a
lot of tools at their disposal if they choose to
be proactive, not the least of which is the
power of the lease agreement and its terms to
maintain control over the living environment
and onsite management staff training.
National Apartment Association: www.naahq.org
Institute for Real Estate Management: www.IREM.org
National Affordable Housing Management Association:
www.nahma.org
For further research, consider the following sources:
www.crimedoctor.com – a lot of articles, resources, tips on
premises liability and pro-active steps management can take.
www.morsewatchmans.com – key control discussion
www.propertymanagementinsider.com—brief article on property
management tips
REGISTER HERE!
2015 RJTCF
Asset Management Summit
MARCH 26—27, 2015
St. Petersburg, FL
**Welcome Reception Wednesday, March 25, 2015**
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RJTCF REPORTING DUE NOW AND ONGOING DUE DATES
Funds with December 31 Closing:**
PERIOD
DOCUMENT TYPE
DUE DATE
Financials; GP Certificates; Rent Roll
April 30
Financials; GP Certificates; Rent Roll
July 30
Financials; GP Certificates; Rent Roll
October 30
GP Certificates; Rent Roll
January 31
Monthly
Financials (for pre-stabilized and Watchlist properties)
16th of Following Month
Annual
Budgets
November 30
Annual
Business Reports
January 31
Annual
Tax Returns
February 15
Annual
Audits
March 1
Annual
Agreed Upon Procedures (20% Tenant File Testing)
March 1
Annual
Insurance Certificates
Upon Renewal
Quarterly
Q1 – 03/31
Quarterly
Q2 – 06/30
Quarterly
Q3 – 09/30
Quarterly
Q4 – 12/31
**If you need Reporting Due Dates for Funds with either a 09/30 or 10/31 year-end,
please contact Pamela.Rich@RaymondJames.com.
WHERE DO I SEND MY REPORTING??
RJTCFCompliance@RaymondJames.com
Quarterly Reports (Balance Sheets and YTD P&L Statements)
Rent Rolls, GP Certificates—NEW! ONLINE LINK—JUST ASK!
Insurance Renewal Certificates
Monthly Financials
RJTaxCreditDocs@RaymondJames.com
Tax Returns
Audits—Year-End Financial Statements from CPA’s
RJTCFAssetManagementReporting@RaymondJames.com
Annual Business Reports—NEW! ONLINE LINK—JUST ASK!
Budgets
RJTCFTenantFiles@RaymondJames.com
Initial Tenant Files & Corrections
Agreed Upon Procedures (20% Tenant File Testing)
880 Carillon Parkway
St. Petersburg, FL 33716
800-438-8088
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