Affordable Upstates launches new property management arm
August 15, 2024
One of the region’s leaders in creating affordable housing solutions, Affordable Upstate, has launched a new company to relieve many of the burdens facing renters in the current market.
Naturally Occurring Affordable Housing Property Management (NOAH) was created by Affordable Upstate to manage its 23 apartment communities, representing more than 3,550 residents in the Greenville-Spartanburg region. NOAH’s mission is to go beyond traditional property management by fostering a sense of community and enhancing the quality of life for its residents.
Matt Foster, an experienced leader in property management, will serve as the new company’s CEO.
“Our unwavering dedication to serving affordable workforce housing communities and creating structural pathways for nonprofit partners to drive economic mobility outcomes is at the core of what we do,” Foster said. “NOAH has partnered with Leadwell 360, Front Porch Housing, and United Housing Connections to ensure that our residents not only have a place to live but also access essential services that help them advance economically and build a better future.”
NOAH was born from a desire to create a tech-oriented property management solution that economically mobilizes residents at 60-80% of the Area Median Income (AMI). This solution delivers high-quality management with dignity, enabling residents to achieve greater economic mobility while partnering with nonprofits like Front Porch Housing, Greenville Homeless Alliance and the Southeast Affordable Housing Administration. Leveraging A.I. technology, NOAH empowers its property management team to have more resources to pour into its residents thus creating a more personalized and impactful living experience.
“Matt brings a wealth of experience to this role, and we deeply appreciate his unwavering commitment to the community,” said Mario Brown, Co-Founder & Principal at Affordable Upstate. “We understand the importance of fostering a strong sense of community and inclusiveness among affordable housing residents, nonprofits, and multifamily service providers. It’s one thing to inform our residents about the incredible organizations in town; it’s another to seamlessly integrate those community nonprofits into their renting experience, making support and resources a natural part of their daily lives.”
Under the banner “WHERE COMMUNITY COUNTS,” NOAH Property Management has launched innovative programs designed to meet residents where they are, fostering both financial stability and personal growth. These programs are at the heart of NOAH’s mission to create thriving communities through practical, supportive, and forward-thinking solutions:
- Flex Pay: Understanding its residents’ diverse financial situations, NOAH introduced Flex Pay. This program allows residents to split their rent into two equal payments due on the 1st and 15th of each month, helping them avoid late fees and manage their finances more easily.
- Deposit Alternative: Moving can be financially burdensome. NOAH’s Deposit Alternative program alleviates this strain by offering residents the option to skip traditional deposits and save money for what matters most.
- Positive Credit Reporting: NOAH is committed to helping residents build a positive financial future. With Positive Credit Reporting, all on-time rental payments are reported to credit bureaus, aiding residents in establishing and improving their credit history.
- Rent Relief: Life is unpredictable, and financial challenges can arise unexpectedly. NOAH’s Credit Alternative program, known as Rent Relief, offers 0% interest rental loans of up to $5,000, providing residents with a lifeline during short-term income loss and helping to reduce delinquencies and avoid costly evictions.
- Home Purchase Incentive: NOAH believes in supporting residents’ long-term goals. Through the Home Purchase Incentive program, residents can connect with licensed real estate agents and receive a $500 bonus when they purchase a home, making the dream of homeownership more attainable.
“Community is at the heart of everything we do. We believe that every individual deserves a comfortable and secure living environment,” Foster said. “Our passion for people and our commitment to creating a welcoming, safe, and supportive community for all our residents is at the core of who we are.”
About Affordable Upstate
Affordable Upstate is a real estate investment firm focused on redeveloping and redefining naturally occurring affordable housing in the Upstate of South Carolina. Since 2017 they have placed over $50 million of investor equity into socially responsible, environmentally enhanced workforce housing assets, resulting in a diverse and thriving portfolio with over 1,450 apartment units that satisfy the expectations of residents, investors, and communities. Learn more at Affordable Upstate.
About NOAH PM
The mission of Naturally Occurring Affordable Housing Property Management (NOAH) is to provide affordable housing for our self-managed communities across the Upstate of South Carolina, while creating a sense of community among our residents. For more information about NOAH Property Management and its resident-focused programs, visit www.NOAHpm.com or call 864-580-NOAH.
