Rainbow Housing Assistance Corporation (Rainbow) provides service-enriched housing programs to residents of rental housing communities throughout the country. We work with owners and investors to design and implement programs and services which meet regulatory requirements and promote service-enriched housing for low-income and market-rate communities. Tailored programming stabilizes resident populations, reduces key expense line items, and more importantly, improves the bottom line performance of operations.
When a resident’s economic or family emergency is addressed in a timely manner, they are less likely to fall behind on rent, vacate their apartment, be evicted, or create other problems for managers and owners.
Along with service-enriched housing program delivery, Rainbow is well-versed in Section 42 compliance requirements and maintains good relationships with state housing agencies. Rainbow has a broad array of experience serving communities which are a blend of Section 8, affordable, and LIHTC properties.
Skilled in changing the culture of a property when required, Rainbow acknowledges investor risk and provides significant oversight ensuring financially beneficial partnerships.
Owner/Investor Benefits
- Reduce delinquency
- Decrease bad debt losses
- Reduce turnover costs
- Lower concessions
- Improve occupancy
- Decrease repair and maintenance costs
- Lower security costs
- Reduction in legal/eviction costs
As a national nonprofit, Rainbow is a preservation leader in the affordable housing industry with specialized experience as a General Partner. In this capacity, Rainbow upholds its commitment to its partners by participating with an ownership stake in the property through a long-term supportive services agreement. Partnering in this way helps stabilize the resident population, ensure compliance with all regulatory bodies, and secure property tax exemptions where available.
Currently, Rainbow and its affiliates bring this unique approach to 76 communities across the country, maintaining over 11,700 units as affordable housing and securing over $4 million in property tax abatements.
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WHAT OWNERS AND INVESTORS SAY ABOUT RAINBOW
Since Rainbow Housing joined the Copeland Creek community, we have seen residents become more active, social, and interested. They have been instrumental in creating a sense of community and providing a better quality of life for our residents.
Dan Lisenby
Regional Manager, Pacific West Management
I am a believer in affordable housing, Rainbow’s mission in my heart and in my mind. I am glad to have added more communities with Rainbow services and are reaching more people.
Joshua Allen
Sr., J Allen Management
The services Rainbow Housing offers its resident are of great need and therefore of great value to the community. Rainbow Housing is making a difference in the lives of those they serve.
Joshua Schirr
Manager of Asset Oversight and Compliance, Texas State Affordable Housing Corporation
As a result of their programs and services during the past three years, our residents have enjoyed an improved sense of community and a better overall environment to call their home. This ultimately has led to better resident retention, improved customer satisfaction, and improved overall financial performance of these assets.
Ridge Robertson
Regional Vice-President, Sunchase American
