Auction company Hudson & Marshall has developed an outreach initiative called the Alliance Network Program, which seeks to attract more buyers and tenants by leveraging relationships with local organizations in cities where the company conducts auctions.
The program was first launched at a January auction in Detroit and will be offered in other cities throughout the year, including at an upcoming auction in Atlanta.
As part of the initiative, Hudson & Marshall will encourage investors attending the Atlanta auction to list their properties with the Atlanta Housing Authority (AHA) database.
Through its Quality of Life Initiative (QLI), the AHA no longer places low-income families in conventional public housing projects but instead offers families housing throughout mixed-income neighborhoods in Atlanta. As part of the QLI, the Department of Housing and Urban Development provides families with Section 8 rental vouchers for up to 80% of a monthly market rate rent, which is paid directly to a landlord.
Other components of Hudson & Marshall's community outreach program in Atlanta include inviting property managers and contractors to the auction as resources for investor buyers who need to make improvements to their properties. Several banks also will be at the auction to offer finance options to prospective buyers and answer questions about home loans.
"The program reflects the company's growing desire to help communities turn around their local housing markets by providing greater access to housing opportunities to people in need of homes," says Dave Webb, principal, Hudson & Marshall. "This is a complete housing solution, connecting home buyers with homes and investors with resources they need to turn their purchases into revenue generating properties."
SOURCE: Hudson & Marshall