Somerset Pacific, founded in July 2003, is an asset management firm specializing in the management of Multi-Family housing with an emphasis on Low-Income Housing Tax Credit Program (LIHTC) properties.  Somerset Pacific’s corporate office is located in Caldwell, Idaho.

Its current portfolio consists of 925 units and it is under contract to manage an additional 305 units which are currently under construction. These properties are located throughout Idaho, Montana, Utah, Nevada, Arizona, and Wyoming.
 
Management responsibilities include budgeting, hiring, supervising, payroll, the transfer and maintenance on all financial accounts, maintaining insurance and bonding on the properties, handling accounts payables and receivables, monitoring tenant eligibility for compliance.

Somerset Pacific gives special emphasis on marketing and pre-leasing of properties which are under construction.  Its marketing techniques have lead to numerous successful lease-ups in a time frame of less than 30 days.

Somerset Pacific’s staff has extensive education and experience in fair housing laws, ADA, the required compliance issues that govern the LIHTC, RD, HOME, and the HUD Programs.  The staff is very knowledgeable and experienced with the reporting requirements for owners, syndicators, lenders, and state and federal agencies.