As an approved HPD Marketing Agent of the Affordable Housing Lottery, we offer automated applicant evaluation processes powered by CompliBuddy. Our proprietary software automation workflows ensures we conduct lotteries with speed and efficiency to always remain in compliance with HPD regulations.
HPD requires substantive documentation to prove an applicant’s household size, income and assets in order to show eligibility for an affordable unit. Gathering this documentation and arranging eligibility appointments is the most arduous part of the marketing process. Evaluating these documents along with background checks and other information is time consuming for the marketing agent and HPD.
CompliBuddy is proprietary software that efficiently evaluates lottery candidates in order to rent affordable units with absolute speed by:
CompliBuddy also evaluates applicants on FICO score, employment, income and disability verification, as well as criminal and Housing court history.
Only HPD approved applicants can sign a lease for an affordable unit. An applicant must submit all requested documentation and undergo a background check in order to obtain HPD approval. After HPD grants approval, then a lease is prepared for the applicant to sign.
It is essential to evaluate applications expeditiously to determine which applicants qualify and reject ineligible ones. Since some projects with 130% AMI yield rent amounts near free or current market rates, it is challenging to find eligible applicants in these cases. Therefore, no eligible applicants may be found through the lottery. Then, potential tenants that meet HPD’s household and income requirements can be found outside of the lottery with HPD’s permission. This provides a larger pool of people that qualify for the units and allows eligible applicants outside of the lottery to apply.