Boston Capital

Boston Capital’s leadership, running one of the largest multifamily housing investment companies in the country, recognized the need to innovate their property inspection and compliance processes. “Timely, detailed reporting on the status of our properties are critical to our investors and our general partners. It’s also vital in demonstrating our compliance with Section 42 of the Internal Revenue Code, the low-income housing credit,” says Lauren Roy, Boston Capital’s Vice President of Asset Management.

Boston Capital’s previous paper-based inspection process was easily recognized as inefficient and too time consuming. After spending weeks on the road completing property inspections and meeting with management companies, Boston Capital’s inspectors returned to the office and faced the laborious task of translating their hand-written notes and recollections into formal documentation. Once finally complete, email and other basic tools were used to manage findings to resolution. The result was a process that took too long and was difficult to track and manage.

“It’s critical that upon completing a property inspection that we document, escalate, and communicate in writing our findings as quickly as possible,” states Roy. “Due to our outdated process, it was taking my team much too long to complete an inspection—this extended timeline was no longer acceptable and certainly wasn’t meeting our high standard of excellence.”