The Property Sisters

Identical twins Morgan and Mallory Musgrove share many of the same passions. They both enjoy being entrepreneurs and began investing in rental properties at a young age. They both decided to create their dream homes from the ground up, building houses next door to each other. They also share a passion for helping Alaskans transform their lives through housing, whether that means finding their financial footing in an affordable rental property or purchasing their own home. As property managers, Morgan and Mallory say that housing vouchers offered through Alaska Housing Finance Corporation can play a part in this journey to success.

Morgan and Mallory have operated the property management department of Century 21’s Kenai Peninsula office for eight years. Since taking over the department, they have grown the property portfolio from 25 units to more than 300 units across the Kenai Peninsula. They estimate that at least 20 of their renters utilize housing vouchers.

“Not understanding how housing voucher programs worked was a concern for us at first,” Mallory said. “We wanted to make sure we really understood the programs ourselves so we could provide good information to the property owners. Once we got educated on the programs, we felt like it was a beneficial thing all the way around.”

For the property owners, Mallory said the best part of housing vouchers is a guaranteed rent payment.

“There’s not a lot of risk for the landlord,” she said. “The Alaska Landlord & Tenant Act is still in place and we always make sure the tenant is a good fit for the property, like we would for any other renter. The voucher payment is just there to ensure that the tenant can financially afford the property.”

From their perspective as property managers, Mallory and Morgan say that accepting vouchers has helped them to fill empty units. They also appreciate being able to play a part in a tenant’s journey to financial stability.

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“There are tenants we have worked with for many years and during times when they were in tough spots, they were able to benefit from Alaska Housing’s programs. It has transformed some of our tenants’ lives. It’s great to see families succeed and be part of their journey.”

- Mallory Musgrove, Property Manager, Century 21

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Recently, Mallory and Morgan said that they had one tenant who was coming to the end of her lease and could not afford to renew it. The tenant was eligible for one of AHFC’s housing voucher programs and because of the new Landlord Appreciation program, the landlord benefitted from a sign-on bonus of $1,000 when they signed up to accept the voucher. 

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“There can be misconceptions about renters who use vouchers, but in our eyes it’s a sign that a tenant is being responsible during a time when cost of living has gone up. The tenant realizes that they might not be able to provide housing for their family so they proactively seek assistance in order to fully pay their rent, which we appreciate.”

- Morgan Musgrove, Property Manager, Century 21

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Over the years that they have worked with property owners to accept housing vouchers, Morgan and Mallory said they have come to appreciate the work that the tenants put in through their STEP and Jumpstart program participation.

“There’s more to it than just a monthly payment on behalf of the tenant,” Mallory said. “That tenant is in touch with staff at Alaska Housing and going through a whole program that the property owner might not really know is happening in the background. The program can help tenants to better understand their financial situation and plan ahead in order to be successful.”

“The tenant is not signing up for free money,” Morgan agreed. “They’re also signing up for financial education and getting help setting goals. It’s really great to have this resource that we can recommend to our tenants if we see that they are struggling.”

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Alaska Housing does not endorse lenders or real estate licensees, but we are pleased to highlight individual relationships. Thank you to Mallory Musgrove and Morgan Musgrove, The Property Sisters (License ID: AK.122776), of Century 21 Realty Solutions for participating in this blog post.