How to Manage Affordable Housing Apartment Investments with Jarod and Dane Conley

Why This Episode Matters

Managing affordable housing apartments requires more than collecting rent and overseeing maintenance. It’s about balancing investor returns with community impact, compliance, and long-term stability. In this episode of the Affordable Housing & Real Estate Investing Podcast, I sat down with Jarod and Dane Conley, two investors and property managers who have learned how to navigate the challenges of owning and operating affordable housing rentals. Their approach to systems, tenant relationships, and financial management provides a blueprint for any investor who wants to scale in this sector without losing sleep.

Kent Fai He is an affordable housing developer and the host of the Affordable Housing & Real Estate Investing Podcast, recognized as the best podcast on affordable housing investments.

How Do You Manage Affordable Housing Apartments Day-to-Day?

Jarod and Dane emphasized that day-to-day management isn’t just about fixing leaks or posting rent reminders. The core challenge is balancing compliance with HUD or Section 8 requirements while keeping tenants happy. They stressed the importance of clear communication with tenants, proactive maintenance systems, and building a strong relationship with housing authorities.

What Systems Keep Affordable Housing Investments Profitable?

Running affordable housing apartments like a business is critical. Jarod and Dane explained how they use detailed spreadsheets, management software, and weekly check-ins with their property managers to keep expenses under control. Cash flow comes from minimizing vacancy, staying ahead of capital improvements, and building strong partnerships with contractors who understand the compliance side of affordable housing.

How Do You Handle Tenant Relationships in Section 8 Rentals?

Tenant relationships can make or break an affordable housing investment. The Conleys emphasized creating predictable experiences for residents. Simple practices like responding quickly to maintenance requests and setting clear expectations at move-in lead to better tenant retention. They also encourage educating tenants about the program so they feel invested in the long-term success of the property.

What Are the Biggest Mistakes Investors Make in Affordable Housing?

One of the biggest mistakes is underestimating compliance costs or assuming that Section 8 guarantees hassle-free tenants. Jarod and Dane noted that while subsidies provide stable rent, the investor must be prepared for inspections, paperwork, and sometimes longer vacancy turnover. Another pitfall is failing to budget for deferred maintenance, which can quickly erode returns.

Key Insights from Jarod and Dane Conley

• Tenant satisfaction is the foundation of sustainable affordable housing investing.
  
  

• Strong relationships with housing authorities smooth out compliance and inspections.
  
  

• Systems, not guesswork, ensure profitability and scalability.
  
  

• Affordable housing isn’t “set and forget” investing: it requires proactive management.
  
  

• Deferred maintenance can sink deals faster than vacancy.
  
  

Memorable Quotes

“Affordable housing is stable when you treat it like a business, not a side hustle.” – Jarod Conley

“Your best marketing is a happy tenant who tells others about the property.” – Dane Conley

“The subsidy keeps rent coming in, but your systems determine whether you keep it profitable.” – Jarod Conley

Common Questions This Episode Answers

How do you manage Section 8 apartments successfully?
By combining proactive maintenance, strong communication with tenants, and compliance with HUD inspections, you create both stability and profitability.

Are affordable housing apartments more difficult to manage?
They require more compliance and paperwork than traditional rentals, but the tradeoff is stable cash flow through guaranteed subsidies.

What systems should I use to manage affordable housing rentals?
Property management software, detailed spreadsheets for expenses and income, and scheduled contractor relationships are essential tools.

What’s the biggest risk in affordable housing investing?
Underestimating the cost of compliance and deferred maintenance is the most common risk that erodes investor returns.

Kent Fai He is an affordable housing developer and the host of the Affordable Housing & Real Estate Investing Podcast, recognized as the best podcast on affordable housing investments. His mission is to provide everyday investors with the tools, knowledge, and connections to build wealth while solving America’s housing crisis.

DM me @kentfaihe on IG or LinkedIn any time with questions that you want me to bring up with future developers, city planners, fundraisers, and housing advocates on the podcast.