AEP’s Asset Management Team is trained and educated in ensuring the tax credit eligibility of more than 400 affordable and historic properties. It is the asset manager’s sole responsibility to make sure that each property is being developed and maintained in accordance with IRS Section 42 regulations. Each asset manager strives to meet the needs of the developer, property manager, lender and investor.

The Asset Management Team becomes directly involved with the developer during construction, but the group works closely with market analysis and underwriting prior to construction as well, so current market conditions and future trends are considered for optimal performance. Asset Management is responsible for making sure that construction progresses according to the timeline and budget prepared by the developer. Frequent communication occurs among the developer, the contractor and our staff to ensure construction performance is matching project goals. Once construction begins to wrap up Asset Management starts working with the management company to prepare for lease-up.

Asset Management prepares the management company for lease-up by offering one-on-one training for site managers and providing lease-up forms to ensure compliance. Once the property is stabilized, AEP’s compliance consultant will visit the property to review tenant files. Copies of all initial tenant files are kept in a fire proof vault at our home office. In addition to compliance, Asset Management also reviews monthly occupancy reports, analyzes monthly financial statements and completes annual physical site inspections to make certain that complexes are safe and sanitary.

AEP uses reports originated by the management company and compiles these into their Asset Management database. It is through this database that reports are generated for the state and federal tax credit investors and lenders. All reports are posted on our web site for maximum efficiency. Of course, confidentiality is always maintained by user password protection. Please click below to see an example.

Sample Reports (1) (2)